Tutor Perini (NYSE:TPC) Shares Gap Up – Should You Buy?

Tutor Perini Co. (NYSE:TPC) gapped up before the market opened on Friday . The stock had previously closed at $21.87, but opened at $24.77. Tutor Perini shares last traded at $26.87, with a volume of 135,430 shares changing hands.

Analysts Set New Price Targets

A number of brokerages have weighed in on TPC. Vertical Research assumed coverage on shares of Tutor Perini in a research report on Tuesday, December 10th. They set a “buy” rating and a $38.00 target price for the company. StockNews.com downgraded shares of Tutor Perini from a “buy” rating to a “hold” rating in a report on Tuesday, January 28th. Finally, B. Riley boosted their target price on shares of Tutor Perini from $38.00 to $40.00 and gave the company a “buy” rating in a report on Thursday, November 7th.

Tutor Perini Stock Performance

The company has a 50-day moving average price of $23.87 and a two-hundred day moving average price of $25.15. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.53. The stock has a market capitalization of $1.54 billion, a P/E ratio of -11.73 and a beta of 1.52.

Tutor Perini (NYSE:TPC) last posted its earnings results on Thursday, February 27th. The construction company reported ($1.51) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($1.80). The firm had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.08 billion. Tutor Perini had a negative return on equity of 9.56% and a negative net margin of 3.08%. During the same quarter in the prior year, the company earned ($0.91) earnings per share.

Hedge Funds Weigh In On Tutor Perini

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TPC. Plato Investment Management Ltd purchased a new stake in shares of Tutor Perini in the 3rd quarter valued at about $52,000. FMR LLC raised its stake in Tutor Perini by 103.1% in the third quarter. FMR LLC now owns 4,725 shares of the construction company’s stock valued at $128,000 after purchasing an additional 2,399 shares in the last quarter. State of Wyoming lifted its position in Tutor Perini by 39.7% during the fourth quarter. State of Wyoming now owns 6,212 shares of the construction company’s stock valued at $150,000 after purchasing an additional 1,764 shares during the last quarter. Y Intercept Hong Kong Ltd purchased a new position in Tutor Perini in the 3rd quarter worth approximately $201,000. Finally, Optimize Financial Inc bought a new position in shares of Tutor Perini in the 4th quarter worth $221,000. 65.01% of the stock is currently owned by hedge funds and other institutional investors.

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.