Analysts Set Tutor Perini Corp (NYSE:TPC) PT at $22.80

Tutor Perini Corp (NYSE:TPC) has been assigned an average recommendation of “Hold” from the eight ratings firms that are presently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating on the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $22.80.

A number of research firms recently weighed in on TPC. ValuEngine downgraded Tutor Perini from a “sell” rating to a “strong sell” rating in a research report on Thursday, May 9th. Zacks Investment Research upgraded Tutor Perini from a “hold” rating to a “buy” rating and set a $19.00 price objective for the company in a research report on Wednesday, March 27th. TheStreet upgraded Tutor Perini from a “c+” rating to a “b-” rating in a research report on Wednesday, March 20th. Finally, MKM Partners set a $27.00 price objective on Tutor Perini and gave the company a “buy” rating in a research report on Thursday, February 28th.

NYSE:TPC opened at $13.20 on Tuesday. The company has a market capitalization of $644.82 million, a P/E ratio of 6.84, a PEG ratio of 0.61 and a beta of 2.06. Tutor Perini has a 1-year low of $12.70 and a 1-year high of $22.02. The company has a quick ratio of 2.09, a current ratio of 2.09 and a debt-to-equity ratio of 0.49.

Tutor Perini (NYSE:TPC) last released its earnings results on Wednesday, May 8th. The construction company reported ($0.01) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.05 by ($0.06). The firm had revenue of $958.49 million during the quarter, compared to the consensus estimate of $1.01 billion. Tutor Perini had a return on equity of 5.42% and a net margin of 2.17%. On average, equities analysts forecast that Tutor Perini will post 2.11 EPS for the current fiscal year.

In other Tutor Perini news, major shareholder N. Tutor Separate Prope Ronald sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $16.51, for a total value of $330,200.00. Following the completion of the sale, the insider now owns 5,594,050 shares in the company, valued at $92,357,765.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Ronald N. Tutor sold 50,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 18th. The shares were sold at an average price of $13.31, for a total value of $665,500.00. The disclosure for this sale can be found here. Insiders sold 120,000 shares of company stock valued at $1,823,200 in the last quarter. Corporate insiders own 24.30% of the company’s stock.

Institutional investors have recently made changes to their positions in the stock. NumerixS Investment Technologies Inc bought a new position in shares of Tutor Perini during the fourth quarter valued at approximately $32,000. Covington Capital Management raised its holdings in shares of Tutor Perini by 90.2% during the fourth quarter. Covington Capital Management now owns 8,435 shares of the construction company’s stock valued at $135,000 after acquiring an additional 4,000 shares in the last quarter. BNP Paribas Arbitrage SA raised its holdings in shares of Tutor Perini by 142.9% during the first quarter. BNP Paribas Arbitrage SA now owns 8,716 shares of the construction company’s stock valued at $149,000 after acquiring an additional 5,127 shares in the last quarter. Metropolitan Life Insurance Co. NY grew its stake in Tutor Perini by 363.5% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 12,264 shares of the construction company’s stock worth $196,000 after purchasing an additional 9,618 shares during the period. Finally, Menta Capital LLC purchased a new stake in Tutor Perini in the fourth quarter worth $201,000. Institutional investors own 89.69% of the company’s stock.

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 worldwide. The company operates through three segments: Civil, Building, and Specialty Contractors. The Civil segment engages in the public works construction, replacement, and reconstruction of infrastructure, including highways, bridges, tunnels, mass-transit systems, and water management and wastewater treatment facilities.

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Analyst Recommendations for Tutor Perini (NYSE:TPC)

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