Analysts Set Tutor Perini Corp (TPC) Target Price at $31.17
Tutor Perini Corp (NYSE:TPC) has received a consensus rating of “Hold” from the eleven brokerages that are currently covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and seven have assigned a buy rating to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $31.17.
TPC has been the subject of a number of analyst reports. Zacks Investment Research lowered shares of Tutor Perini Corp from a “buy” rating to a “hold” rating in a research note on Thursday, July 6th. Canaccord Genuity restated a “buy” rating and set a $35.00 price objective on shares of Tutor Perini Corp in a research note on Saturday, August 26th. BidaskClub upgraded shares of Tutor Perini Corp from a “strong sell” rating to a “sell” rating in a research note on Tuesday, June 27th. Finally, KeyCorp restated a “hold” rating on shares of Tutor Perini Corp in a research note on Friday, August 25th.
In other news, major shareholder N. Tutor Separate Prope Ronald sold 25,000 shares of Tutor Perini Corp stock in a transaction that occurred on Wednesday, September 6th. The shares were sold at an average price of $26.11, for a total value of $652,750.00. Following the completion of the sale, the insider now directly owns 5,923,120 shares in the company, valued at $154,652,663.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Ronald N. Tutor sold 3,617 shares of Tutor Perini Corp stock in a transaction that occurred on Monday, September 11th. The stock was sold at an average price of $26.02, for a total transaction of $94,114.34. The disclosure for this sale can be found here. Insiders sold 175,000 shares of company stock valued at $4,566,711 over the last quarter. Company insiders own 24.50% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Ameritas Investment Partners Inc. purchased a new position in shares of Tutor Perini Corp in the first quarter worth approximately $101,000. Envestnet Asset Management Inc. boosted its holdings in shares of Tutor Perini Corp by 8.1% in the first quarter. Envestnet Asset Management Inc. now owns 4,516 shares of the construction company’s stock worth $144,000 after buying an additional 340 shares during the last quarter. Raymond James Financial Services Advisors Inc. purchased a new position in shares of Tutor Perini Corp in the first quarter worth approximately $218,000. BNP Paribas Arbitrage SA boosted its holdings in shares of Tutor Perini Corp by 239.8% in the second quarter. BNP Paribas Arbitrage SA now owns 8,112 shares of the construction company’s stock worth $233,000 after buying an additional 5,725 shares during the last quarter. Finally, OppenheimerFunds Inc. purchased a new position in shares of Tutor Perini Corp in the first quarter worth approximately $310,000. 81.11% of the stock is currently owned by institutional investors.
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Tutor Perini Corp (NYSE TPC) traded down 0.69% during midday trading on Friday, hitting $28.65. 405,948 shares of the stock traded hands. The stock has a market capitalization of $1.43 billion, a P/E ratio of 14.09 and a beta of 2.45. Tutor Perini Corp has a 52 week low of $18.05 and a 52 week high of $33.00. The stock’s 50-day moving average price is $26.32 and its 200-day moving average price is $27.83.
Tutor Perini Corp (NYSE:TPC) last issued its quarterly earnings results on Monday, August 7th. The construction company reported $0.59 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.57 by $0.02. The company had revenue of $1.25 billion during the quarter, compared to analyst estimates of $1.42 billion. Tutor Perini Corp had a net margin of 2.62% and a return on equity of 7.64%. Tutor Perini Corp’s quarterly revenue was down 4.7% compared to the same quarter last year. During the same period last year, the business earned $0.43 EPS. Equities research analysts expect that Tutor Perini Corp will post $2.26 EPS for the current fiscal year.
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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