Traders Buy Large Volume of Tutor Perini Call Options (NYSE:TPC)

Tutor Perini Corp (NYSE:TPC) was the target of some unusual options trading on Wednesday. Stock traders bought 3,400 call options on the company. This is an increase of 1,173% compared to the average daily volume of 267 call options.

NYSE TPC opened at $6.11 on Thursday. The company’s 50 day moving average is $10.72 and its 200-day moving average is $13.26. Tutor Perini has a 12-month low of $2.61 and a 12-month high of $20.37. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 0.50. The firm has a market cap of $299.29 million, a P/E ratio of -0.79 and a beta of 1.36.

Tutor Perini (NYSE:TPC) last released its quarterly earnings data on Wednesday, February 26th. The construction company reported $0.13 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.95 by ($0.82). Tutor Perini had a positive return on equity of 2.19% and a negative net margin of 8.71%. The business had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.27 billion. Equities analysts expect that Tutor Perini will post 1.8 EPS for the current year.

Several institutional investors have recently bought and sold shares of the company. Great West Life Assurance Co. Can purchased a new position in shares of Tutor Perini in the fourth quarter valued at $30,000. Tower Research Capital LLC TRC purchased a new stake in Tutor Perini during the 3rd quarter worth about $57,000. Bank of Montreal Can lifted its holdings in Tutor Perini by 27.7% during the 4th quarter. Bank of Montreal Can now owns 6,716 shares of the construction company’s stock worth $87,000 after purchasing an additional 1,455 shares in the last quarter. Public Employees Retirement System of Ohio boosted its stake in Tutor Perini by 19.5% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 10,741 shares of the construction company’s stock worth $154,000 after purchasing an additional 1,750 shares during the period. Finally, Stifel Financial Corp bought a new position in Tutor Perini in the 3rd quarter worth about $155,000. 92.65% of the stock is owned by hedge funds and other institutional investors.

A number of equities research analysts have issued reports on the stock. ValuEngine raised shares of Tutor Perini from a “sell” rating to a “hold” rating in a research report on Friday, January 3rd. DA Davidson dropped their target price on shares of Tutor Perini from $22.00 to $18.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. B. Riley cut their target price on Tutor Perini from $19.00 to $17.00 and set a “buy” rating on the stock in a research note on Tuesday, March 17th. Finally, Zacks Investment Research lowered Tutor Perini from a “hold” rating to a “strong sell” rating in a report on Tuesday, March 3rd. One research analyst has rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the stock. Tutor Perini has an average rating of “Hold” and a consensus target price of $18.00.

About Tutor Perini

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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