Tutor Perini (NYSE:TPC) Downgraded by StockNews.com to “Hold”

StockNews.com downgraded shares of Tutor Perini (NYSE:TPC) from a buy rating to a hold rating in a research note released on Thursday.

Separately, UBS Group boosted their target price on shares of Tutor Perini from $27.00 to $39.00 and gave the company a “buy” rating in a research note on Wednesday.

Tutor Perini Price Performance

NYSE TPC opened at $26.38 on Thursday. The stock has a market capitalization of $1.38 billion, a P/E ratio of -12.93 and a beta of 1.50. Tutor Perini has a 1 year low of $6.86 and a 1 year high of $30.99. The business’s fifty day moving average is $24.92 and its two-hundred day moving average is $21.71. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.65 and a current ratio of 1.65.

Tutor Perini (NYSE:TPC) last posted its quarterly earnings results on Thursday, August 1st. The construction company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($0.15). Tutor Perini had a negative net margin of 1.59% and a negative return on equity of 4.49%. The company had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.14 billion. During the same period in the prior year, the company posted ($0.72) EPS. Tutor Perini’s quarterly revenue was up 10.4% on a year-over-year basis. On average, research analysts forecast that Tutor Perini will post 1.12 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in TPC. CWM LLC grew its holdings in shares of Tutor Perini by 142.8% during the 2nd quarter. CWM LLC now owns 1,714 shares of the construction company’s stock valued at $37,000 after acquiring an additional 1,008 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new position in Tutor Perini in the second quarter valued at about $51,000. nVerses Capital LLC purchased a new position in Tutor Perini in the second quarter valued at about $63,000. USA Financial Formulas increased its position in Tutor Perini by 19.6% in the 3rd quarter. USA Financial Formulas now owns 3,451 shares of the construction company’s stock worth $94,000 after purchasing an additional 566 shares during the last quarter. Finally, Quest Partners LLC raised its stake in shares of Tutor Perini by 537.2% during the 2nd quarter. Quest Partners LLC now owns 4,148 shares of the construction company’s stock worth $90,000 after purchasing an additional 3,497 shares in the last quarter. Institutional investors and hedge funds own 65.01% 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 in the United States and internationally. It operates through three segments: Civil, Building, and Specialty Contractors.