Brokerages Set Tutor Perini Corp. (TPC) Price Target at $26.40
Tutor Perini Corp. (NYSE:TPC) has earned a consensus rating of “Hold” from the nine brokerages that are covering the company. Five research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $26.40.
TPC has been the subject of several research analyst reports. Standpoint Research upgraded Tutor Perini Corp. from a “hold” rating to a “buy” rating in a research report on Monday, October 3rd. MKM Partners upgraded Tutor Perini Corp. from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $23.00 to $28.00 in a research report on Wednesday, August 24th. Canaccord Genuity reiterated a “buy” rating and set a $30.00 target price on shares of Tutor Perini Corp. in a research report on Thursday, August 4th. Seaport Global Securities upgraded Tutor Perini Corp. from an “accumulate” rating to a “buy” rating and set a $26.00 target price for the company in a research report on Monday, October 24th. They noted that the move was a valuation call. Finally, Zacks Investment Research upgraded Tutor Perini Corp. from a “sell” rating to a “hold” rating in a research report on Thursday, October 6th.
A number of institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in Tutor Perini Corp. by 4.5% in the second quarter. Vanguard Group Inc. now owns 2,786,606 shares of the company’s stock valued at $65,624,000 after buying an additional 120,282 shares during the period. Alliancebernstein L.P. raised its position in Tutor Perini Corp. by 4,055.5% in the second quarter. Alliancebernstein L.P. now owns 2,118,507 shares of the company’s stock valued at $49,891,000 after buying an additional 2,067,526 shares during the period. LSV Asset Management raised its position in Tutor Perini Corp. by 0.9% in the third quarter. LSV Asset Management now owns 1,667,848 shares of the company’s stock valued at $35,808,000 after buying an additional 15,000 shares during the period. Boston Partners raised its position in Tutor Perini Corp. by 6.6% in the third quarter. Boston Partners now owns 1,433,296 shares of the company’s stock valued at $30,772,000 after buying an additional 88,388 shares during the period. Finally, Peconic Partners LLC raised its position in Tutor Perini Corp. by 22.9% in the first quarter. Peconic Partners LLC now owns 1,165,397 shares of the company’s stock valued at $18,110,000 after buying an additional 217,470 shares during the period. Institutional investors own 82.64% of the company’s stock.
Tutor Perini Corp. (NYSE:TPC) opened at 26.30 on Monday. The company has a 50-day moving average of $21.31 and a 200-day moving average of $22.27. Tutor Perini Corp. has a 52 week low of $10.16 and a 52 week high of $30.20. The company has a market cap of $1.29 billion, a PE ratio of 17.65 and a beta of 2.49.
Tutor Perini Corp. (NYSE:TPC) last issued its quarterly earnings results on Wednesday, November 2nd. The company reported $0.57 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.62 by $0.05. The company earned $1.33 billion during the quarter, compared to the consensus estimate of $1.38 million. Tutor Perini Corp. had a return on equity of 5.05% and a net margin of 1.51%. The firm’s quarterly revenue was down .6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.68 earnings per share. On average, equities analysts expect that Tutor Perini Corp. will post $1.93 EPS for the current year.
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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