Tutor Perini (NYSE:TPC) was downgraded by analysts at TheStreet from a “b-” rating to a “c+” rating in a note issued to investors on Monday, TheStreetRatingsTable reports.
TPC has been the subject of several other research reports. Zacks Investment Research downgraded Tutor Perini from a “buy” rating to a “hold” rating in a report on Saturday, May 11th. ValuEngine downgraded Tutor Perini from a “sell” rating to a “strong sell” rating in a research note on Saturday, March 30th. MKM Partners set a $27.00 price target on Tutor Perini and gave the company a “buy” rating in a research note on Thursday, February 28th. KeyCorp set a $24.00 target price on Tutor Perini and gave the company a “buy” rating in a research report on Tuesday, January 29th. Finally, DA Davidson cut Tutor Perini from a “buy” rating to a “neutral” rating and decreased their target price for the company from $32.00 to $20.00 in a research report on Tuesday, January 22nd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. Tutor Perini currently has a consensus rating of “Hold” and a consensus price target of $22.17.
Shares of NYSE:TPC opened at $15.75 on Monday. The company has a market capitalization of $803.38 million, a P/E ratio of 8.25, a PEG ratio of 0.77 and a beta of 1.92. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.09 and a current ratio of 2.09. Tutor Perini has a fifty-two week low of $14.66 and a fifty-two week high of $22.02.
Tutor Perini (NYSE:TPC) last posted its earnings results on Wednesday, May 8th. The construction company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.06). The business had revenue of $958.49 million for the quarter, compared to the consensus estimate of $1.01 billion. Tutor Perini had a return on equity of 5.42% and a net margin of 2.17%. On average, analysts forecast that Tutor Perini will post 2.11 EPS for the current fiscal year.
In related news, CEO Ronald N. Tutor sold 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $16.55, for a total transaction of $827,500.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder N. Tutor Separate Prope Ronald sold 20,000 shares of Tutor Perini stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $16.51, for a total value of $330,200.00. Following the completion of the sale, the insider now owns 5,594,050 shares in the company, valued at $92,357,765.50. The disclosure for this sale can be found here. Corporate insiders own 24.30% of the company’s stock.
Several hedge funds have recently bought and sold shares of TPC. NumerixS Investment Technologies Inc purchased a new position in shares of Tutor Perini in the fourth quarter valued at about $32,000. Great West Life Assurance Co. Can boosted its position in Tutor Perini by 83.9% during the 1st quarter. Great West Life Assurance Co. Can now owns 7,002 shares of the construction company’s stock valued at $120,000 after acquiring an additional 3,195 shares in the last quarter. Covington Capital Management boosted its position in Tutor Perini by 90.2% during the 4th quarter. Covington Capital Management now owns 8,435 shares of the construction company’s stock valued at $135,000 after acquiring an additional 4,000 shares in the last quarter. BNP Paribas Arbitrage SA lifted its holdings in shares of Tutor Perini by 142.9% during the 1st quarter. BNP Paribas Arbitrage SA now owns 8,716 shares of the construction company’s stock valued at $149,000 after purchasing an additional 5,127 shares during the last quarter. Finally, New Jersey Better Educational Savings Trust purchased a new stake in shares of Tutor Perini during the 4th quarter valued at $160,000. Hedge funds and other institutional investors own 91.25% of the company’s stock.
Tutor Perini Company Profile
Tutor Perini Corporation, a construction company, provides diversified general contracting, construction management, and design-build services to private customers and public agencies worldwide. The company operates through three segments: Civil, Building, and Specialty Contractors. The Civil segment engages in the public works construction, replacement, and reconstruction of infrastructure, including highways, bridges, tunnels, mass-transit systems, and water management and wastewater treatment facilities.
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