ValuEngine Downgrades Tutor Perini (TPC) to Strong Sell

Tutor Perini (NYSE:TPC) was downgraded by equities research analysts at ValuEngine from a “sell” rating to a “strong sell” rating in a report released on Saturday.

Several other brokerages have also recently issued reports on TPC. B. Riley dropped their price objective on Tutor Perini from $28.00 to $26.00 and set a “buy” rating on the stock in a research note on Wednesday, August 8th. MKM Partners set a $28.00 price objective on Tutor Perini and gave the stock a “buy” rating in a research note on Tuesday, August 28th. Finally, Zacks Investment Research raised Tutor Perini from a “sell” rating to a “hold” rating in a research note on Friday, August 10th. One analyst has rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $29.75.

Shares of NYSE:TPC opened at $20.05 on Friday. Tutor Perini has a 52-week low of $17.55 and a 52-week high of $29.90. The company has a market capitalization of $1.00 billion, a P/E ratio of 13.19, a PEG ratio of 0.92 and a beta of 2.08. The company has a current ratio of 1.97, a quick ratio of 1.97 and a debt-to-equity ratio of 0.46.

Tutor Perini (NYSE:TPC) last announced its quarterly earnings data on Tuesday, August 7th. The construction company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.18. Tutor Perini had a return on equity of 4.55% and a net margin of 2.58%. The company had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.17 billion. equities research analysts predict that Tutor Perini will post 2.17 earnings per share for the current fiscal year.

In other Tutor Perini news, CEO Ronald N. Tutor sold 32,574 shares of the company’s stock in a transaction on Tuesday, August 28th. The stock was sold at an average price of $20.10, for a total transaction of $654,737.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder N. Tutor Separate Prope Ronald sold 17,574 shares of the company’s stock in a transaction on Monday, August 27th. The stock was sold at an average price of $20.08, for a total value of $352,885.92. Following the sale, the insider now owns 5,626,601 shares of the company’s stock, valued at approximately $112,982,148.08. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 117,574 shares of company stock valued at $2,367,300. 24.50% of the stock is owned by company insiders.

Institutional investors have recently bought and sold shares of the business. Nomura Holdings Inc. purchased a new stake in shares of Tutor Perini during the 2nd quarter valued at $298,000. Sterling Capital Management LLC purchased a new stake in shares of Tutor Perini during the 2nd quarter valued at $930,000. OppenheimerFunds Inc. lifted its holdings in shares of Tutor Perini by 25.2% during the 2nd quarter. OppenheimerFunds Inc. now owns 18,761 shares of the construction company’s stock valued at $346,000 after purchasing an additional 3,781 shares during the last quarter. Citadel Advisors LLC lifted its holdings in shares of Tutor Perini by 43.2% during the 2nd quarter. Citadel Advisors LLC now owns 136,960 shares of the construction company’s stock valued at $2,527,000 after purchasing an additional 41,346 shares during the last quarter. Finally, DDD Partners LLC lifted its holdings in shares of Tutor Perini by 18.6% during the 2nd quarter. DDD Partners LLC now owns 491,825 shares of the construction company’s stock valued at $9,074,000 after purchasing an additional 77,296 shares during the last quarter. Institutional investors own 86.68% 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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