Tutor Perini (NYSE:TPC) Hits New 12-Month High – Should You Buy?

Tutor Perini Co. (NYSE:TPC)’s share price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $33.00 and last traded at $33.00, with a volume of 3931 shares traded. The stock had previously closed at $27.41.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. B. Riley upped their price objective on Tutor Perini from $38.00 to $40.00 and gave the company a “buy” rating in a research note on Thursday. StockNews.com upgraded shares of Tutor Perini from a “hold” rating to a “buy” rating in a research report on Thursday. Finally, UBS Group lifted their price target on Tutor Perini from $27.00 to $39.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd.

Tutor Perini Trading Up 9.8 %

The firm has a market cap of $1.74 billion, a price-to-earnings ratio of -13.24 and a beta of 1.50. The business has a fifty day moving average of $25.95 and a two-hundred day moving average of $22.64. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.65 and a current ratio of 1.65.

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

Institutional Investors Weigh In On Tutor Perini

Institutional investors and hedge funds have recently bought and sold shares of the stock. CWM LLC boosted its stake in shares of Tutor Perini by 142.8% during the 2nd quarter. CWM LLC now owns 1,714 shares of the construction company’s stock worth $37,000 after purchasing an additional 1,008 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in Tutor Perini in the 2nd quarter worth approximately $51,000. Plato Investment Management Ltd purchased a new position in shares of Tutor Perini during the 3rd quarter worth $52,000. nVerses Capital LLC acquired a new position in Tutor Perini in the second quarter valued at $63,000. Finally, EntryPoint Capital LLC purchased a new position in shares of Tutor Perini during the 1st quarter worth about $77,000. Hedge funds and other institutional investors own 65.01% 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 in the United States and internationally. It operates through three segments: Civil, Building, and Specialty Contractors.