UBS Group Forecasts Strong Price Appreciation for Tutor Perini (NYSE:TPC) Stock

Tutor Perini (NYSE:TPC) had its price target boosted by stock analysts at UBS Group from $41.00 to $59.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has a “buy” rating on the construction company’s stock. UBS Group’s price target would indicate a potential upside of 20.65% from the company’s previous close.

Several other brokerages also recently weighed in on TPC. Wall Street Zen raised shares of Tutor Perini from a “hold” rating to a “buy” rating in a report on Thursday, May 8th. B. Riley reaffirmed a “buy” rating and issued a $50.00 target price (up previously from $40.00) on shares of Tutor Perini in a report on Friday, June 6th.

Tutor Perini Trading Up 1.7%

NYSE TPC opened at $48.90 on Thursday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.33 and a current ratio of 1.33. The firm has a market cap of $2.58 billion, a PE ratio of -16.98 and a beta of 1.79. Tutor Perini has a one year low of $14.50 and a one year high of $49.14. The firm’s fifty day moving average is $39.70 and its two-hundred day moving average is $29.08.

Tutor Perini (NYSE:TPC) last posted its quarterly earnings data on Wednesday, May 7th. The construction company reported $0.53 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.47. The company had revenue of $1.25 billion for the quarter, compared to analyst estimates of $1.08 billion. Tutor Perini had a negative net margin of 3.35% and a negative return on equity of 11.64%. Tutor Perini’s quarterly revenue was up 18.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.30 earnings per share.

Insider Transactions at Tutor Perini

In related news, Director Raymond R. Oneglia sold 25,000 shares of the business’s stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $36.14, for a total transaction of $903,500.00. Following the sale, the director owned 90,470 shares of the company’s stock, valued at approximately $3,269,585.80. The trade was a 21.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Ronald N. Tutor sold 130,478 shares of the business’s stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $40.93, for a total transaction of $5,340,464.54. Following the sale, the chairman directly owned 4,570,985 shares in the company, valued at approximately $187,090,416.05. This represents a 2.78% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 410,000 shares of company stock worth $15,891,651. 17.30% of the stock is owned by insiders.

Hedge Funds Weigh In On Tutor Perini

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC raised its position in Tutor Perini by 32.5% during the first quarter. GAMMA Investing LLC now owns 2,080 shares of the construction company’s stock worth $48,000 after acquiring an additional 510 shares during the last quarter. New Age Alpha Advisors LLC acquired a new position in Tutor Perini during the first quarter worth about $54,000. Comerica Bank raised its position in shares of Tutor Perini by 30.7% in the first quarter. Comerica Bank now owns 2,423 shares of the construction company’s stock valued at $56,000 after buying an additional 569 shares during the last quarter. CWM LLC raised its position in shares of Tutor Perini by 32.8% in the first quarter. CWM LLC now owns 3,442 shares of the construction company’s stock valued at $80,000 after buying an additional 850 shares during the last quarter. Finally, AlphaQuest LLC raised its position in shares of Tutor Perini by 849.2% in the first quarter. AlphaQuest LLC now owns 3,436 shares of the construction company’s stock valued at $80,000 after buying an additional 3,074 shares during the last quarter. Institutional investors and hedge funds 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.