Tutor Perini (NYSE:TPC) Trading Up 7% – Time to Buy?

Tutor Perini Co. (NYSE:TPC)’s stock price was up 7% during mid-day trading on Monday . The stock traded as high as $29.78 and last traded at $29.68. Approximately 371,182 shares traded hands during trading, a decline of 18% from the average daily volume of 450,747 shares. The stock had previously closed at $27.73.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on TPC shares. UBS Group lifted their price objective on shares of Tutor Perini from $27.00 to $39.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. StockNews.com cut shares of Tutor Perini from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. Finally, B. Riley raised their price objective on Tutor Perini from $38.00 to $40.00 and gave the company a “buy” rating in a research report on Thursday, November 7th.

Tutor Perini Stock Performance

The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 0.53. The company has a fifty day moving average of $27.00 and a two-hundred day moving average of $23.47.

Tutor Perini (NYSE:TPC) last issued its quarterly earnings results on Wednesday, November 6th. The construction company reported ($1.92) earnings per share for the quarter, missing the consensus estimate of ($1.89) by ($0.03). Tutor Perini had a negative return on equity of 9.56% and a negative net margin of 3.08%. The business had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.17 billion. During the same quarter in the previous year, the company posted ($0.71) earnings per share. The company’s quarterly revenue was up 2.1% compared to the same quarter last year. Sell-side analysts forecast that Tutor Perini Co. will post -1.47 EPS for the current year.

Insider Buying and Selling at Tutor Perini

In other Tutor Perini news, CEO Ronald N. Tutor sold 125,000 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $30.72, for a total transaction of $3,840,000.00. Following the sale, the chief executive officer now owns 3,257,313 shares of the company’s stock, valued at approximately $100,064,655.36. This trade represents a 3.70 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 19.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Tutor Perini

Institutional investors and hedge funds have recently bought and sold shares of the company. Fred Alger Management LLC purchased a new stake in Tutor Perini in the third quarter valued at about $16,034,000. Hennessy Advisors Inc. acquired a new stake in Tutor Perini during the 2nd quarter worth about $12,362,000. Jacobs Levy Equity Management Inc. raised its stake in shares of Tutor Perini by 129.4% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 783,396 shares of the construction company’s stock valued at $21,277,000 after buying an additional 441,858 shares during the last quarter. American Century Companies Inc. lifted its holdings in shares of Tutor Perini by 59.9% in the 2nd quarter. American Century Companies Inc. now owns 759,665 shares of the construction company’s stock valued at $16,546,000 after buying an additional 284,627 shares during the period. Finally, Acadian Asset Management LLC boosted its stake in shares of Tutor Perini by 84.4% in the second quarter. Acadian Asset Management LLC now owns 539,336 shares of the construction company’s stock worth $11,742,000 after buying an additional 246,901 shares during the last quarter. 65.01% of the stock is owned by hedge funds and other 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.