Tutor Perini Corp (TPC) Receives Consensus Rating of “Buy” from Brokerages

Shares of Tutor Perini Corp (NYSE:TPC) have been given an average recommendation of “Buy” by the eleven brokerages that are currently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $34.20.

Several research analysts have commented on the stock. B. Riley reissued a “buy” rating on shares of Tutor Perini in a report on Wednesday, November 1st. ValuEngine raised shares of Tutor Perini from a “hold” rating to a “buy” rating in a report on Friday, December 1st. Zacks Investment Research raised shares of Tutor Perini from a “sell” rating to a “hold” rating in a report on Wednesday, October 11th. Canaccord Genuity cut their price target on shares of Tutor Perini from $35.00 to $32.00 and set a “buy” rating for the company in a report on Friday, November 10th. Finally, lowered their price objective on shares of Tutor Perini from $37.00 to $35.00 and set a “buy” rating on the stock in a research report on Wednesday, November 15th.

Shares of Tutor Perini (NYSE:TPC) traded down $0.10 during trading hours on Tuesday, reaching $25.75. 286,506 shares of the company’s stock traded hands, compared to its average volume of 454,167. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.07 and a current ratio of 2.07. Tutor Perini has a 1 year low of $22.60 and a 1 year high of $33.00. The company has a market cap of $1,300.00, a P/E ratio of 13.34, a price-to-earnings-growth ratio of 0.96 and a beta of 2.37.

Tutor Perini (NYSE:TPC) last announced its quarterly earnings results on Thursday, November 9th. The construction company reported $0.47 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.69 by ($0.22). Tutor Perini had a net margin of 2.03% and a return on equity of 6.16%. The firm had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.54 billion. During the same period in the previous year, the business earned $0.57 earnings per share. The firm’s revenue for the quarter was down 10.0% on a year-over-year basis. sell-side analysts forecast that Tutor Perini will post 1.83 earnings per share for the current fiscal year.

In related news, major shareholder N. Tutor Separate Prope Ronald sold 25,000 shares of Tutor Perini stock in a transaction on Tuesday, December 5th. The shares were sold at an average price of $25.60, for a total value of $640,000.00. Following the transaction, the insider now owns 5,798,120 shares in the company, valued at approximately $148,431,872. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Dale Ann Reiss sold 4,829 shares of Tutor Perini stock in a transaction on Monday, December 18th. The stock was sold at an average price of $27.28, for a total transaction of $131,735.12. Following the completion of the transaction, the director now owns 20,625 shares in the company, valued at approximately $562,650. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 54,829 shares of company stock worth $1,400,985. Corporate insiders own 24.50% of the company’s stock.

Large investors have recently modified their holdings of the stock. Ameriprise Financial Inc. raised its position in Tutor Perini by 86.1% in the 2nd quarter. Ameriprise Financial Inc. now owns 162,956 shares of the construction company’s stock worth $4,682,000 after purchasing an additional 75,407 shares during the period. Parametrica Management Ltd purchased a new position in Tutor Perini in the 3rd quarter worth $688,000. TIAA CREF Investment Management LLC raised its position in Tutor Perini by 8.7% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 146,439 shares of the construction company’s stock worth $4,210,000 after purchasing an additional 11,708 shares during the period. State Street Corp raised its position in Tutor Perini by 4.7% in the 2nd quarter. State Street Corp now owns 750,365 shares of the construction company’s stock worth $21,576,000 after purchasing an additional 33,774 shares during the period. Finally, Principal Financial Group Inc. raised its position in Tutor Perini by 1.5% in the 3rd quarter. Principal Financial Group Inc. now owns 390,557 shares of the construction company’s stock worth $11,091,000 after purchasing an additional 5,918 shares during the period. Institutional investors own 81.78% of the company’s stock.

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About Tutor Perini

Tutor Perini Corporation is a construction company offering general contracting, construction management and design-build services to private customers and public agencies across the world. The Company operates through three segments: Civil, Building and Specialty Contractors. Its Civil segment specializes in public works construction and the repair, replacement and reconstruction of infrastructure across various geographic regions of the United States.

Analyst Recommendations for Tutor Perini (NYSE:TPC)

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