Tutor Perini (NYSE:TPC) Given New $39.00 Price Target at UBS Group

Tutor Perini (NYSE:TPC) had its price objective boosted by UBS Group from $27.00 to $39.00 in a research note issued to investors on Wednesday morning, Benzinga reports. They currently have a buy rating on the construction company’s stock.

Tutor Perini Trading Down 1.6 %

NYSE:TPC opened at $25.97 on Wednesday. The company has a market capitalization of $1.36 billion, a PE ratio of -12.73 and a beta of 1.50. Tutor Perini has a 52-week low of $6.86 and a 52-week high of $30.99. The stock’s 50 day moving average price is $25.02 and its 200 day moving average price is $21.83. The company has a quick ratio of 1.65, a current ratio of 1.65 and a debt-to-equity ratio of 0.50.

Tutor Perini (NYSE:TPC) last released its quarterly earnings results on Thursday, August 1st. The construction company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.17 by ($0.15). Tutor Perini had a negative net margin of 1.59% and a negative return on equity of 4.49%. The business had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.14 billion. During the same quarter last year, the company earned ($0.72) EPS. The firm’s revenue for the quarter was up 10.4% compared to the same quarter last year. On average, research analysts anticipate that Tutor Perini will post 1.12 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Quadrature Capital Ltd purchased a new stake in shares of Tutor Perini during the fourth quarter worth approximately $243,000. BNP Paribas Financial Markets lifted its stake in shares of Tutor Perini by 56.6% in the 1st quarter. BNP Paribas Financial Markets now owns 47,614 shares of the construction company’s stock worth $688,000 after acquiring an additional 17,204 shares during the period. Lesa Sroufe & Co boosted its holdings in shares of Tutor Perini by 3.7% in the first quarter. Lesa Sroufe & Co now owns 204,919 shares of the construction company’s stock valued at $2,963,000 after acquiring an additional 7,273 shares in the last quarter. Quantbot Technologies LP raised its holdings in Tutor Perini by 174.1% during the first quarter. Quantbot Technologies LP now owns 25,284 shares of the construction company’s stock worth $366,000 after purchasing an additional 16,061 shares in the last quarter. Finally, Empowered Funds LLC boosted its holdings in Tutor Perini by 17.3% in the 1st quarter. Empowered Funds LLC now owns 218,925 shares of the construction company’s stock valued at $3,166,000 after purchasing an additional 32,325 shares in the last quarter. 65.01% of the stock is currently owned by hedge funds and other institutional investors.

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