Brokerages Set Tutor Perini Corp (TPC) Target Price at $31.00
Tutor Perini Corp (NYSE:TPC) has been assigned a consensus recommendation of “Buy” from the ten ratings firms that are presently covering the firm. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $31.00.
A number of equities research analysts have recently issued reports on the stock. Canaccord Genuity boosted their target price on shares of Tutor Perini Corp from $30.00 to $35.00 and gave the company a “buy” rating in a research report on Thursday, January 19th. Standpoint Research raised shares of Tutor Perini Corp from a “hold” rating to a “buy” rating in a research report on Wednesday, January 25th. MKM Partners boosted their target price on shares of Tutor Perini Corp from $31.00 to $34.00 and gave the company a “buy” rating in a research report on Wednesday, December 28th. KeyCorp assumed coverage on shares of Tutor Perini Corp in a research report on Friday, January 27th. They issued a “sector weight” rating for the company. Finally, FBR & Co boosted their target price on shares of Tutor Perini Corp from $35.00 to $38.00 and gave the company an “outperform” rating in a research report on Thursday, January 26th.
In other news, COO James A. Frost sold 110,000 shares of the business’s stock in a transaction dated Friday, March 17th. The shares were sold at an average price of $30.27, for a total value of $3,329,700.00. Following the completion of the sale, the chief operating officer now owns 534,661 shares of the company’s stock, valued at $16,184,188.47. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 23.40% of the company’s stock.
A number of large investors have recently bought and sold shares of the company. US Bancorp DE boosted its position in Tutor Perini Corp by 746.7% in the third quarter. US Bancorp DE now owns 5,199 shares of the construction company’s stock worth $112,000 after buying an additional 4,585 shares during the period. Dreman Value Management L L C boosted its position in Tutor Perini Corp by 4,694.1% in the third quarter. Dreman Value Management L L C now owns 8,150 shares of the construction company’s stock worth $175,000 after buying an additional 7,980 shares during the period. Sei Investments Co. purchased a new position in Tutor Perini Corp during the third quarter worth approximately $191,000. Bayesian Capital Management LP purchased a new position in Tutor Perini Corp during the fourth quarter worth approximately $216,000. Finally, A.R.T. Advisors LLC purchased a new position in Tutor Perini Corp during the fourth quarter worth approximately $242,000. 80.29% of the stock is owned by institutional investors and hedge funds.
Tutor Perini Corp (NYSE:TPC) traded up 0.16% on Monday, reaching $31.20. 577,277 shares of the company were exchanged. The stock has a 50 day moving average of $30.63 and a 200 day moving average of $27.31. The firm has a market capitalization of $1.54 billion, a PE ratio of 16.25 and a beta of 2.60. Tutor Perini Corp has a 12-month low of $14.95 and a 12-month high of $33.00.
Tutor Perini Corp (NYSE:TPC) last announced its earnings results on Thursday, February 23rd. The construction company reported $0.60 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.60. The company earned $1.25 billion during the quarter, compared to analysts’ expectations of $1.36 billion. Tutor Perini Corp had a net margin of 1.51% and a return on equity of 5.05%. Tutor Perini Corp’s quarterly revenue was up 3.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.18 earnings per share. Equities analysts anticipate that Tutor Perini Corp will post $2.28 EPS for the current year.
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About Tutor Perini Corp
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.
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