Tutor Perini (TPC) Cut to “C+” at TheStreet

Tutor Perini (NYSE:TPC) was downgraded by analysts at TheStreet from a “b-” rating to a “c+” rating in a report issued on Monday, TheStreetRatingsTable reports.

Several other analysts have also recently commented on TPC. ValuEngine upgraded shares of Tutor Perini from a “strong sell” rating to a “sell” rating in a report on Tuesday, April 16th. Zacks Investment Research upgraded shares of Tutor Perini from a “strong sell” rating to a “hold” rating in a report on Wednesday, March 13th. MKM Partners set a $27.00 price target on shares of Tutor Perini and gave the stock a “buy” rating in a report on Thursday, February 28th. DA Davidson cut shares of Tutor Perini from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $32.00 to $20.00 in a report on Tuesday, January 22nd. Finally, KeyCorp set a $24.00 price target on shares of Tutor Perini and gave the stock a “buy” rating in a report on Tuesday, January 29th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $22.17.

Shares of TPC opened at $15.75 on Monday. Tutor Perini has a one year low of $14.66 and a one year high of $22.02. The stock has a market capitalization of $803.38 million, a price-to-earnings ratio of 8.25, a PEG ratio of 0.77 and a beta of 1.92. The company has a quick ratio of 2.09, a current ratio of 2.09 and a debt-to-equity ratio of 0.49.

Tutor Perini (NYSE:TPC) last announced its earnings results on Wednesday, May 8th. The construction company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.05 by ($0.06). Tutor Perini had a return on equity of 5.42% and a net margin of 2.17%. The firm had revenue of $958.49 million during the quarter, compared to analyst estimates of $1.01 billion. As a group, analysts anticipate that Tutor Perini will post 2.11 earnings per share for the current fiscal year.

In other Tutor Perini news, CEO Ronald N. Tutor sold 50,000 shares of Tutor Perini stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $16.55, for a total value of $827,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder N. Tutor Separate Prope Ronald sold 20,000 shares of Tutor Perini stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $16.51, for a total transaction of $330,200.00. Following the completion of the sale, the insider now owns 5,594,050 shares of the company’s stock, valued at $92,357,765.50. The disclosure for this sale can be found here. Company insiders own 24.30% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of TPC. NumerixS Investment Technologies Inc acquired a new stake in Tutor Perini in the fourth quarter valued at approximately $32,000. Great West Life Assurance Co. Can lifted its stake in Tutor Perini by 83.9% in the first quarter. Great West Life Assurance Co. Can now owns 7,002 shares of the construction company’s stock valued at $120,000 after acquiring an additional 3,195 shares during the last quarter. Covington Capital Management lifted its stake in Tutor Perini by 90.2% in the fourth quarter. Covington Capital Management now owns 8,435 shares of the construction company’s stock valued at $135,000 after acquiring an additional 4,000 shares during the last quarter. BNP Paribas Arbitrage SA lifted its stake in Tutor Perini by 142.9% in the first quarter. BNP Paribas Arbitrage SA now owns 8,716 shares of the construction company’s stock valued at $149,000 after acquiring an additional 5,127 shares during the last quarter. Finally, New Jersey Better Educational Savings Trust acquired a new stake in Tutor Perini in the fourth quarter valued at approximately $160,000. Hedge funds and other institutional investors own 91.25% of the company’s stock.

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 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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