Tutor Perini Corp. (TPC) Upgraded by Zacks Investment Research to “Hold”
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. “
A number of other research firms have also issued reports on TPC. Canaccord Genuity reissued a buy rating on shares of Tutor Perini Corp. in a report on Sunday, July 17th. TheStreet downgraded shares of Tutor Perini Corp. from a buy rating to a hold rating in a research report on Wednesday, August 3rd. FBR & Co restated an outperform rating and issued a $26.00 price objective (up previously from $22.00) on shares of Tutor Perini Corp. in a research report on Thursday, June 30th. MKM Partners upgraded shares of Tutor Perini Corp. from a neutral rating to a buy rating and raised their price objective for the company from $23.00 to $28.00 in a research report on Wednesday, August 24th. Finally, Standpoint Research upgraded shares of Tutor Perini Corp. from a hold rating to a buy rating in a research report on Monday. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock presently has an average rating of Buy and an average target price of $24.29.
Tutor Perini Corp. (NYSE:TPC) traded up 0.969% on Thursday, hitting $20.951. 566,148 shares of the stock were exchanged. The firm has a market cap of $1.03 billion, a PE ratio of 15.993 and a beta of 2.48. The company has a 50-day moving average price of $22.09 and a 200-day moving average price of $21.06. Tutor Perini Corp. has a 52-week low of $10.16 and a 52-week high of $25.98.
Tutor Perini Corp. (NYSE:TPC) last released its quarterly earnings results on Tuesday, August 2nd. The company reported $0.43 earnings per share (EPS) for the quarter, missing the Zacks’ 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 company had revenue of $1.31 billion for the quarter, compared to analysts’ expectations of $1.40 billion. During the same period in the prior year, the business earned $0.41 EPS. The business’s quarterly revenue was down .3% compared to the same quarter last year. On average, equities research analysts anticipate that Tutor Perini Corp. will post $2.04 EPS for the current fiscal year.
A number of hedge funds and other institutional investors have recently bought and sold shares of TPC. DIAM Co. Ltd. raised its position in Tutor Perini Corp. by 0.9% in the second quarter. DIAM Co. Ltd. now owns 57,312 shares of the company’s stock worth $1,338,000 after buying an additional 512 shares during the last quarter. Teacher Retirement System of Texas raised its position in 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 last quarter. BlackRock Advisors LLC raised its position in Tutor Perini Corp. by 4.1% in the second quarter. BlackRock Advisors LLC now owns 17,801 shares of the company’s stock worth $419,000 after buying an additional 704 shares during the last quarter. Teachers Advisors Inc. raised its stake in Tutor Perini Corp. by 1.5% in the second quarter. Teachers Advisors Inc. now owns 63,154 shares of the company’s stock valued at $1,487,000 after buying an additional 955 shares in the last quarter. Finally, BlackRock Inc. raised its stake in Tutor Perini Corp. by 9.0% in the first quarter. BlackRock Inc. now owns 12,899 shares of the company’s stock valued at $200,000 after buying an additional 1,064 shares in the last quarter. Institutional investors and hedge funds own 82.48% of the company’s stock.
About Tutor Perini Corp.
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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