Tutor Perini Corporation (TPC) Price Target Cut to $35.00

Tutor Perini Corporation (NYSE:TPC) had its price target dropped by investment analysts at from $37.00 to $35.00 in a report released on Wednesday. The brokerage presently has a “buy” rating on the construction company’s stock. ‘s target price would indicate a potential upside of 49.57% from the company’s previous close.

A number of other brokerages have also issued reports on TPC. Zacks Investment Research raised shares of Tutor Perini Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, October 11th. Seaport Global Securities lowered shares of Tutor Perini Corporation from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $40.00 to $31.00 in a research report on Wednesday, October 11th. BidaskClub lowered shares of Tutor Perini Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, July 19th. B. Riley reissued a “buy” rating on shares of Tutor Perini Corporation in a report on Wednesday, November 1st. Finally, Canaccord Genuity reissued a “buy” rating and issued a $35.00 price target on shares of Tutor Perini Corporation in a report on Saturday, August 26th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $33.63.

Shares of Tutor Perini Corporation (NYSE TPC) traded up $0.30 during mid-day trading on Wednesday, reaching $23.40. 246,500 shares of the company were exchanged, compared to its average volume of 350,100. Tutor Perini Corporation has a fifty-two week low of $22.60 and a fifty-two week high of $33.00. The company has a market capitalization of $1,170.00, a price-to-earnings ratio of 11.97, a P/E/G ratio of 1.27 and a beta of 2.39. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.07 and a quick ratio of 2.07.

Tutor Perini Corporation (NYSE:TPC) last announced its earnings results on Thursday, November 9th. The construction company reported $0.47 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.69 by ($0.22). Tutor Perini Corporation had a return on equity of 6.16% and a net margin of 2.03%. The company had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.54 billion. During the same period last year, the firm posted $0.57 EPS. The company’s revenue was down 10.0% compared to the same quarter last year. equities analysts anticipate that Tutor Perini Corporation will post 1.82 EPS for the current fiscal year.

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In other news, major shareholder N. Tutor Separate Prope Ronald sold 25,000 shares of the business’s stock in a transaction 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 sale, the insider now owns 5,923,120 shares in the company, valued at approximately $154,652,663.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Ronald N. Tutor sold 3,617 shares of the business’s stock in a transaction on Monday, September 11th. The shares were 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 a total of 175,000 shares of company stock worth $4,566,711 in the last three months. Insiders own 24.50% of the company’s stock.

Several large investors have recently modified their holdings of the company. Sterling Capital Management LLC boosted its stake in shares of Tutor Perini Corporation by 15.8% in the 3rd quarter. Sterling Capital Management LLC now owns 61,173 shares of the construction company’s stock valued at $1,737,000 after purchasing an additional 8,352 shares in the last quarter. California Public Employees Retirement System boosted its stake in shares of Tutor Perini Corporation by 7.4% in the 3rd quarter. California Public Employees Retirement System now owns 86,361 shares of the construction company’s stock valued at $2,453,000 after purchasing an additional 5,961 shares in the last quarter. Asset Management One Co. Ltd. boosted its stake in shares of Tutor Perini Corporation by 204.9% in the 3rd quarter. Asset Management One Co. Ltd. now owns 343,589 shares of the construction company’s stock valued at $9,827,000 after purchasing an additional 230,916 shares in the last quarter. Westside Investment Management Inc. boosted its stake in shares of Tutor Perini Corporation by 22.7% in the 3rd quarter. Westside Investment Management Inc. now owns 56,280 shares of the construction company’s stock valued at $1,618,000 after purchasing an additional 10,425 shares in the last quarter. Finally, Formula Growth Ltd. acquired a new stake in shares of Tutor Perini Corporation in the 3rd quarter valued at $7,526,000. Institutional investors own 81.53% of the company’s stock.

About Tutor Perini Corporation

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.

Analyst Recommendations for Tutor Perini Corporation (NYSE:TPC)

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