Tutor Perini Corporation (NYSE:TPC) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Thursday.

According to Zacks, “Tutor Perini Corporation provides diversified general contracting, construction management and design-build services to private clients and public agencies worldwide. The company operates in four segments: Civil, Building, Specialty Contractors, and Management Services. The Civil segment engages in public works construction activities and the repair, replacement, and reconstruction of infrastructure. The Building segment offers services in specialized building markets, including hospitality and gaming, transportation, healthcare, municipal offices, sports and entertainment, education, correctional facilities, biotech, pharmaceutical, industrial, and high technology. The Specialty Contractors segment provides plumbing, HVAC, electrical, mechanical, and concrete services for the industrial, commercial, hospitality and gaming, and transportation markets. The Management Services segment offers construction and design-build services to the U.S. military and government agencies, and multi-national corporations. “

TPC has been the subject of several other reports. BidaskClub upgraded Tutor Perini Corporation from a “sell” rating to a “hold” rating in a report on Thursday, July 6th. Canaccord Genuity restated a “buy” rating on shares of Tutor Perini Corporation in a report on Friday, June 23rd. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $31.29.

Shares of Tutor Perini Corporation (TPC) opened at 28.00 on Thursday. Tutor Perini Corporation has a 12 month low of $18.05 and a 12 month high of $33.00. The company has a 50-day moving average price of $27.87 and a 200-day moving average price of $28.93. The company has a market capitalization of $1.39 billion, a P/E ratio of 14.94 and a beta of 2.42.

Tutor Perini Corporation (NYSE:TPC) last issued its earnings results on Monday, August 7th. The construction company reported $0.59 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.57 by $0.02. The company had revenue of $1.25 billion during the quarter, compared to analysts’ expectations of $1.42 billion. Tutor Perini Corporation had a return on equity of 6.60% and a net margin of 2.08%. The firm’s quarterly revenue was down 4.7% on a year-over-year basis. During the same period in the prior year, the business earned $0.43 EPS. On average, analysts forecast that Tutor Perini Corporation will post $2.29 EPS for the current fiscal year.

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Several institutional investors have recently made changes to their positions in the stock. LSV Asset Management raised its position in shares of Tutor Perini Corporation by 14.4% in the second quarter. LSV Asset Management now owns 1,964,456 shares of the construction company’s stock valued at $56,478,000 after buying an additional 247,500 shares during the period. Pinnacle Associates Ltd. raised its position in shares of Tutor Perini Corporation by 409.7% in the second quarter. Pinnacle Associates Ltd. now owns 32,875 shares of the construction company’s stock valued at $945,000 after buying an additional 26,425 shares during the period. Oppenheimer & Co. Inc. raised its position in shares of Tutor Perini Corporation by 2.0% in the second quarter. Oppenheimer & Co. Inc. now owns 26,000 shares of the construction company’s stock valued at $748,000 after buying an additional 500 shares during the period. Principal Financial Group Inc. raised its position in shares of Tutor Perini Corporation by 4,205.8% in the second quarter. Principal Financial Group Inc. now owns 384,639 shares of the construction company’s stock valued at $11,058,000 after buying an additional 375,706 shares during the period. Finally, IndexIQ Advisors LLC acquired a new position in shares of Tutor Perini Corporation during the second quarter valued at approximately $428,000. 81.17% of the stock is currently owned by institutional investors and hedge funds.

Tutor Perini Corporation Company Profile

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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Analyst Recommendations for Tutor Perini Corporation (NYSE:TPC)

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