StockNews.com Upgrades Tutor Perini (NYSE:TPC) to Buy

Tutor Perini (NYSE:TPC) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Thursday.

A number of other equities research analysts have also recently issued reports on the company. B. Riley upped their price objective on Tutor Perini from $38.00 to $40.00 and gave the stock a “buy” rating in a research note on Thursday. UBS Group boosted their target price on shares of Tutor Perini from $27.00 to $39.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd.

Tutor Perini Stock Down 8.2 %

Shares of TPC stock opened at $30.51 on Thursday. The firm’s fifty day moving average price is $26.08 and its two-hundred day moving average price is $22.76. The company has a current ratio of 1.65, a quick ratio of 1.65 and a debt-to-equity ratio of 0.50. Tutor Perini has a 1 year low of $6.86 and a 1 year high of $34.55. The firm has a market capitalization of $1.60 billion, a P/E ratio of -12.16 and a beta of 1.50.

Tutor Perini (NYSE:TPC) last released its earnings results on Wednesday, November 6th. The construction company reported ($1.92) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.78) by ($0.14). Tutor Perini had a negative net margin of 3.08% and a negative return on equity of 9.43%. The company had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.17 billion. During the same period in the prior year, the firm posted ($0.71) EPS. Tutor Perini’s revenue was up 2.1% compared to the same quarter last year. On average, equities analysts predict that Tutor Perini will post -1 EPS for the current fiscal year.

Institutional Trading of Tutor Perini

Hedge funds have recently made changes to their positions in the business. CWM LLC raised its position in shares of Tutor Perini by 142.8% in the second quarter. CWM LLC now owns 1,714 shares of the construction company’s stock valued at $37,000 after purchasing an additional 1,008 shares during the period. Allspring Global Investments Holdings LLC bought a new position in Tutor Perini in the 2nd quarter valued at about $51,000. Plato Investment Management Ltd bought a new position in Tutor Perini in the 3rd quarter valued at about $52,000. nVerses Capital LLC acquired a new stake in Tutor Perini during the second quarter worth approximately $63,000. Finally, EntryPoint Capital LLC bought a new stake in shares of Tutor Perini during the first quarter worth approximately $77,000. 65.01% of the stock is owned by institutional investors and hedge funds.

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 in the United States and internationally. It operates through three segments: Civil, Building, and Specialty Contractors.