Tutor Perini (NYSE:TPC) Reaches New 12-Month High After Analyst Upgrade

Tutor Perini Co. (NYSE:TPC) shares reached a new 52-week high during trading on Monday after UBS Group raised their price target on the stock from $40.00 to $41.00. UBS Group currently has a buy rating on the stock. Tutor Perini traded as high as $34.97 and last traded at $33.48, with a volume of 589 shares trading hands. The stock had previously closed at $32.71.

TPC has been the subject of several other reports. B. Riley upgraded shares of Tutor Perini to a “strong-buy” rating in a research report on Tuesday, March 18th. StockNews.com upgraded Tutor Perini from a “hold” rating to a “buy” rating in a research report on Thursday.

Institutional Investors Weigh In On Tutor Perini

A number of institutional investors have recently bought and sold shares of the stock. Barclays PLC grew its stake in Tutor Perini by 298.0% in the third quarter. Barclays PLC now owns 69,875 shares of the construction company’s stock worth $1,898,000 after purchasing an additional 52,319 shares in the last quarter. Franklin Resources Inc. grew its holdings in shares of Tutor Perini by 24.6% during the 3rd quarter. Franklin Resources Inc. now owns 79,907 shares of the construction company’s stock valued at $2,130,000 after acquiring an additional 15,788 shares in the last quarter. Assenagon Asset Management S.A. boosted its holdings in Tutor Perini by 67.3% during the fourth quarter. Assenagon Asset Management S.A. now owns 93,202 shares of the construction company’s stock valued at $2,255,000 after acquiring an additional 37,478 shares during the period. Hennessy Advisors Inc. lifted its stake in shares of Tutor Perini by 6.8% in the fourth quarter. Hennessy Advisors Inc. now owns 682,981 shares of the construction company’s stock valued at $16,528,000 after buying an additional 43,600 shares during the period. Finally, Empowered Funds LLC lifted its stake in Tutor Perini by 5.1% during the fourth quarter. Empowered Funds LLC now owns 282,247 shares of the construction company’s stock worth $6,830,000 after purchasing an additional 13,726 shares during the period. 65.01% of the stock is currently owned by hedge funds and other institutional investors.

Tutor Perini Trading Up 2.2%

The business’s fifty day moving average is $23.14 and its two-hundred day moving average is $24.74. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.53. The firm has a market cap of $1.76 billion, a price-to-earnings ratio of -13.34 and a beta of 1.62.

Tutor Perini (NYSE:TPC) last released its quarterly earnings data on Wednesday, May 7th. The construction company reported $0.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.06 by $0.47. Tutor Perini had a negative net margin of 3.08% and a negative return on equity of 9.56%. The business had revenue of $1.25 billion during the quarter, compared to analysts’ expectations of $1.08 billion. During the same period in the prior year, the company earned $0.30 EPS. The firm’s quarterly revenue was up 18.8% compared to the same quarter last year.

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.