Tutor Perini (NYSE:TPC) Upgraded at StockNews.com

StockNews.com upgraded shares of Tutor Perini (NYSE:TPC) from a hold rating to a buy rating in a report released on Thursday morning.

A number of other research firms have also recently commented on TPC. UBS Group upped their price target on Tutor Perini from $27.00 to $39.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. B. Riley increased their price objective on Tutor Perini from $38.00 to $40.00 and gave the company a “buy” rating in a research note on Thursday.

Tutor Perini Stock Performance

NYSE TPC opened at $30.51 on Thursday. Tutor Perini has a twelve month low of $6.86 and a twelve month high of $34.55. The company has a quick ratio of 1.65, a current ratio of 1.55 and a debt-to-equity ratio of 0.53. The stock has a 50-day moving average of $26.08 and a 200 day moving average of $22.82.

Tutor Perini (NYSE:TPC) last posted its quarterly earnings data on Wednesday, November 6th. The construction company reported ($1.92) EPS for the quarter, missing the consensus estimate of ($1.89) by ($0.03). The firm had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.17 billion. Tutor Perini had a negative return on equity of 9.56% and a negative net margin of 3.08%. Tutor Perini’s quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter last year, the firm posted ($0.71) earnings per share. As a group, equities research analysts expect that Tutor Perini will post -1.47 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Tutor Perini

Institutional investors have recently added to or reduced their stakes in the business. Foundry Partners LLC boosted its stake in shares of Tutor Perini by 18.2% during the 3rd quarter. Foundry Partners LLC now owns 216,915 shares of the construction company’s stock worth $5,891,000 after acquiring an additional 33,440 shares in the last quarter. Intech Investment Management LLC purchased a new stake in Tutor Perini in the 3rd quarter valued at approximately $339,000. Advisors Asset Management Inc. raised its holdings in Tutor Perini by 7.6% in the 3rd quarter. Advisors Asset Management Inc. now owns 115,546 shares of the construction company’s stock valued at $3,138,000 after acquiring an additional 8,153 shares during the last quarter. Segall Bryant & Hamill LLC acquired a new position in Tutor Perini in the 3rd quarter valued at $1,410,000. Finally, Empowered Funds LLC raised its holdings in Tutor Perini by 13.9% in the 3rd quarter. Empowered Funds LLC now owns 268,521 shares of the construction company’s stock valued at $7,293,000 after acquiring an additional 32,676 shares during the last quarter. Hedge funds and other institutional investors own 65.01% 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 in the United States and internationally. It operates through three segments: Civil, Building, and Specialty Contractors.