ValuEngine Downgrades Tutor Perini (TPC) to Strong Sell

Tutor Perini (NYSE:TPC) was downgraded by analysts at ValuEngine from a “sell” rating to a “strong sell” rating in a research report issued on Saturday, March 30th, ValuEngine reports.

A number of other research firms have also recently issued reports on TPC. DA Davidson cut shares of Tutor Perini from a “buy” rating to a “neutral” rating and decreased their price target for the company from $32.00 to $20.00 in a report on Tuesday, January 22nd. UBS Group cut shares of Tutor Perini from a “buy” rating to a “neutral” rating and reduced their target price for the company from $24.00 to $19.00 in a research note on Friday, February 1st. KeyCorp set a $24.00 price target on shares of Tutor Perini and gave the stock a “buy” rating in a research note on Tuesday, January 29th. MKM Partners set a $27.00 price target on shares of Tutor Perini and gave the stock a “buy” rating in a research note on Thursday, February 28th. Finally, TheStreet upgraded shares of Tutor Perini from a “c+” rating to a “b-” rating in a research note on Wednesday, March 20th. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company. Tutor Perini presently has an average rating of “Hold” and an average price target of $22.17.

NYSE:TPC traded down $0.13 during trading hours on Friday, hitting $19.74. 281,095 shares of the stock traded hands, compared to its average volume of 297,720. Tutor Perini has a fifty-two week low of $14.66 and a fifty-two week high of $22.20. The company has a quick ratio of 1.99, a current ratio of 1.99 and a debt-to-equity ratio of 0.42. The company has a market cap of $990.55 million, a P/E ratio of 10.34, a price-to-earnings-growth ratio of 0.93 and a beta of 1.86.

Tutor Perini (NYSE:TPC) last posted its quarterly earnings results on Wednesday, February 27th. The construction company reported $0.98 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.81 by $0.17. The business had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.37 billion. Tutor Perini had a net margin of 1.87% and a return on equity of 5.56%. Tutor Perini’s revenue for the quarter was down .8% compared to the same quarter last year. During the same period in the prior year, the business posted $1.60 earnings per share. Equities research analysts anticipate that Tutor Perini will post 2.12 earnings per share for the current year.

Hedge funds and other institutional investors have recently made changes to their positions in the company. NumerixS Investment Technologies Inc bought a new position in shares of Tutor Perini during the fourth quarter worth $32,000. Covington Capital Management increased its stake in Tutor Perini by 90.2% in the 4th quarter. Covington Capital Management now owns 8,435 shares of the construction company’s stock valued at $135,000 after buying an additional 4,000 shares during the last quarter. New Jersey Better Educational Savings Trust acquired a new stake in Tutor Perini in the 4th quarter valued at $160,000. Metropolitan Life Insurance Co. NY increased its stake in Tutor Perini by 363.5% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 12,264 shares of the construction company’s stock valued at $196,000 after buying an additional 9,618 shares during the last quarter. Finally, Menta Capital LLC acquired a new stake in Tutor Perini in the 4th quarter valued at $201,000. 90.80% of the stock is currently owned by institutional investors.

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 worldwide. The company operates through three segments: Civil, Building, and Specialty Contractors. The Civil segment engages in the public works construction, replacement, and reconstruction of infrastructure, including highways, bridges, tunnels, mass-transit systems, and water management and wastewater treatment facilities.

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Analyst Recommendations for Tutor Perini (NYSE:TPC)

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