Tutor Perini Corp. (TPC) Upgraded at Standpoint Research
Tutor Perini Corp. (NYSE:TPC) was upgraded by equities research analysts at Standpoint Research from a “hold” rating to a “buy” rating in a report released on Monday.
Several other brokerages have also commented on TPC. Canaccord Genuity restated a “buy” rating on shares of Tutor Perini Corp. in a research note on Sunday, July 17th. TheStreet lowered shares of Tutor Perini Corp. from a “buy” rating to a “hold” rating in a research note on Wednesday, August 3rd. Zacks Investment Research lowered shares of Tutor Perini Corp. from a “hold” rating to a “sell” rating in a research note on Friday, August 5th. FBR & Co reiterated an “outperform” rating and issued a $26.00 target price (up from $22.00) on shares of Tutor Perini Corp. in a research note on Thursday, June 30th. Finally, MKM Partners upgraded shares of Tutor Perini Corp. from a “neutral” rating to a “buy” rating and raised their target price for the company from $23.00 to $28.00 in a research note on Wednesday, August 24th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $24.29.
Shares of Tutor Perini Corp. (NYSE:TPC) traded up 1.72% during midday trading on Monday, hitting $21.84. 581,220 shares of the company were exchanged. Tutor Perini Corp. has a one year low of $10.16 and a one year high of $25.98. The stock has a market cap of $1.07 billion, a PE ratio of 16.67 and a beta of 2.48. The stock’s 50-day moving average is $22.29 and its 200-day moving average is $20.88.
Tutor Perini Corp. (NYSE:TPC) last announced its quarterly earnings results on Tuesday, August 2nd. The company reported $0.43 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.51 by $0.08. Tutor Perini Corp. had a return on equity of 5.49% and a net margin of 1.32%. The business had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.40 billion. During the same quarter last year, the company earned $0.41 EPS. The business’s revenue for the quarter was down .3% compared to the same quarter last year. Equities research analysts anticipate that Tutor Perini Corp. will post $2.04 EPS for the current year.
A number of hedge funds have recently modified their holdings of the stock. Springbok Capital Management LLC bought a new stake in shares of Tutor Perini Corp. during the first quarter worth $120,000. Teacher Retirement System of Texas increased its stake in shares of Tutor Perini Corp. by 13.8% in the second quarter. Teacher Retirement System of Texas now owns 5,468 shares of the company’s stock worth $129,000 after buying an additional 665 shares during the period. BlackRock Inc. increased its stake in shares of Tutor Perini Corp. by 9.0% in the first quarter. BlackRock Inc. now owns 12,899 shares of the company’s stock worth $200,000 after buying an additional 1,064 shares during the period. Fox Run Management L.L.C. bought a new stake in shares of Tutor Perini Corp. during the second quarter worth $217,000. Finally, Coe Capital Management LLC bought a new stake in shares of Tutor Perini Corp. during the second quarter worth $236,000. 82.48% of the stock is owned by hedge funds and other institutional investors.
Tutor Perini Corp. Company Profile
Tutor Perini Corporation, formerly Perini Corporation, is a construction company offering general contracting, construction management and design-build services to private customers and public agencies. The Company operates through three segments. The Civil segment specializes in public works construction and the repair, replacement and reconstruction of infrastructure.
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