UBS Group Forecasts Strong Price Appreciation for Tutor Perini (NYSE:TPC) Stock

Tutor Perini (NYSE:TPC) had its target price lifted by equities research analysts at UBS Group from $67.00 to $86.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the construction company’s stock. UBS Group’s price objective would suggest a potential upside of 27.62% from the company’s previous close.

Other equities analysts have also recently issued research reports about the stock. Zacks Research cut shares of Tutor Perini from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 6th. Weiss Ratings restated a “sell (d-)” rating on shares of Tutor Perini in a report on Wednesday, October 8th. Wall Street Zen raised Tutor Perini from a “buy” rating to a “strong-buy” rating in a report on Monday, August 11th. Finally, B. Riley restated a “buy” rating on shares of Tutor Perini in a research note on Thursday. Three investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Tutor Perini has a consensus rating of “Hold” and a consensus price target of $66.33.

Tutor Perini Stock Down 0.8%

TPC traded down $0.53 during trading on Thursday, hitting $67.39. The company had a trading volume of 589,064 shares, compared to its average volume of 647,294. Tutor Perini has a 1-year low of $18.33 and a 1-year high of $77.00. The business has a 50-day moving average of $64.11 and a 200-day moving average of $49.66. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.32 and a quick ratio of 1.32. The company has a market cap of $3.55 billion, a PE ratio of -26.74 and a beta of 1.94.

Tutor Perini (NYSE:TPC) last issued its earnings results on Wednesday, August 6th. The construction company reported $1.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $1.12. Tutor Perini had a negative return on equity of 6.41% and a negative net margin of 2.77%.The business had revenue of $1.37 billion during the quarter, compared to analysts’ expectations of $1.27 billion. During the same period in the prior year, the firm posted $0.02 EPS. Tutor Perini’s quarterly revenue was up 21.8% compared to the same quarter last year.

Insider Activity at Tutor Perini

In other Tutor Perini news, Chairman Ronald N. Tutor sold 83,144 shares of the company’s stock in a transaction on Thursday, September 18th. The stock was sold at an average price of $64.94, for a total transaction of $5,399,371.36. Following the completion of the sale, the chairman directly owned 4,062,985 shares in the company, valued at $263,850,245.90. This represents a 2.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Sidney J. Feltenstein sold 124,668 shares of the stock in a transaction dated Thursday, September 18th. The stock was sold at an average price of $65.96, for a total transaction of $8,223,101.28. Following the transaction, the director directly owned 187,274 shares in the company, valued at $12,352,593.04. This trade represents a 39.97% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 725,000 shares of company stock worth $44,824,931 in the last three months. 17.30% of the stock is owned by insiders.

Hedge Funds Weigh In On Tutor Perini

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC raised its stake in Tutor Perini by 968.2% during the third quarter. Smartleaf Asset Management LLC now owns 470 shares of the construction company’s stock worth $31,000 after purchasing an additional 426 shares during the period. GAMMA Investing LLC boosted its position in Tutor Perini by 32.5% during the first quarter. GAMMA Investing LLC now owns 2,080 shares of the construction company’s stock worth $48,000 after purchasing an additional 510 shares in the last quarter. New Age Alpha Advisors LLC purchased a new position in Tutor Perini during the first quarter worth $54,000. Comerica Bank lifted its stake in shares of Tutor Perini by 30.7% during the 1st quarter. Comerica Bank now owns 2,423 shares of the construction company’s stock worth $56,000 after purchasing an additional 569 shares during the period. Finally, CWM LLC increased its stake in Tutor Perini by 32.8% during the first quarter. CWM LLC now owns 3,442 shares of the construction company’s stock worth $80,000 after acquiring an additional 850 shares during the last quarter. 65.01% of the stock is owned by institutional investors.

About Tutor Perini

Tutor Perini Corporation, a construction company, provides diversified general contracting, construction management, and design-build services to private customers and public agencies in the United States and internationally. It operates through three segments: Civil, Building, and Specialty Contractors.