Tutor Perini (NYSE:TPC) had its price target lifted by analysts at B. Riley from $18.00 to $23.00 in a research report issued on Thursday, The Fly reports. The firm currently has a “buy” rating on the construction company’s stock. B. Riley’s target price indicates a potential upside of 24.53% from the company’s current price.
TPC has been the subject of several other reports. DA Davidson restated a “buy” rating and issued a $18.00 target price on shares of Tutor Perini in a research note on Monday, August 12th. Zacks Investment Research downgraded Tutor Perini from a “hold” rating to a “strong sell” rating in a research note on Wednesday, August 14th. ValuEngine upgraded Tutor Perini from a “strong sell” rating to a “sell” rating in a research note on Wednesday. Finally, TheStreet downgraded Tutor Perini from a “c” rating to a “d” rating in a research note on Thursday, August 29th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $21.67.
Shares of TPC stock remained flat at $$18.47 during mid-day trading on Thursday. The stock had a trading volume of 635,241 shares, compared to its average volume of 463,624. The stock’s 50 day simple moving average is $15.28 and its two-hundred day simple moving average is $14.20. Tutor Perini has a 1 year low of $9.24 and a 1 year high of $20.52. The company has a current ratio of 2.03, a quick ratio of 2.03 and a debt-to-equity ratio of 0.63. The company has a market cap of $928.67 million, a P/E ratio of 9.67 and a beta of 1.96.
Tutor Perini (NYSE:TPC) last issued its earnings results on Wednesday, November 6th. The construction company reported $0.38 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.63 by ($0.25). The firm had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.30 billion. Tutor Perini had a negative net margin of 5.70% and a positive return on equity of 4.66%. The business’s quarterly revenue was up 5.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.42 earnings per share. On average, equities analysts forecast that Tutor Perini will post 1.61 EPS for the current year.
A number of hedge funds have recently added to or reduced their stakes in the business. Kempen Capital Management N.V. boosted its stake in Tutor Perini by 39.8% during the 2nd quarter. Kempen Capital Management N.V. now owns 4,640 shares of the construction company’s stock valued at $64,000 after purchasing an additional 1,320 shares during the last quarter. Swiss National Bank boosted its stake in Tutor Perini by 2.2% during the 2nd quarter. Swiss National Bank now owns 74,500 shares of the construction company’s stock valued at $1,033,000 after purchasing an additional 1,600 shares during the last quarter. Point72 Hong Kong Ltd acquired a new position in Tutor Perini during the 2nd quarter valued at about $25,000. Zebra Capital Management LLC boosted its stake in Tutor Perini by 9.0% during the 2nd quarter. Zebra Capital Management LLC now owns 23,339 shares of the construction company’s stock valued at $324,000 after purchasing an additional 1,928 shares during the last quarter. Finally, Covington Capital Management boosted its stake in Tutor Perini by 23.7% during the 2nd quarter. Covington Capital Management now owns 10,435 shares of the construction company’s stock valued at $145,000 after purchasing an additional 2,000 shares during the last quarter. Institutional investors and hedge funds own 92.36% of the company’s stock.
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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