Tutor Perini Corp. (TPC) Trading 4.1% Higher
Tutor Perini Corp. (NYSE:TPC)’s share price traded up 4.1% during mid-day trading on Wednesday . The company traded as high as $24.21 and last traded at $23.69, with a volume of 587,699 shares changing hands. The stock had previously closed at $22.75.
Several research firms have recently weighed in on TPC. MKM Partners raised shares of Tutor Perini Corp. from a “neutral” rating to a “buy” rating and upped their target price for the stock from $23.00 to $28.00 in a report on Wednesday. Zacks Investment Research lowered shares of Tutor Perini Corp. from a “hold” rating to a “sell” rating in a report on Friday, August 5th. TheStreet lowered shares of Tutor Perini Corp. from a “buy” rating to a “hold” rating in a report on Wednesday, August 3rd. Canaccord Genuity reaffirmed a “buy” rating and issued a $30.00 target price on shares of Tutor Perini Corp. in a report on Thursday, August 4th. Finally, FBR & Co reaffirmed an “outperform” rating and issued a $26.00 target price (up previously from $22.00) on shares of Tutor Perini Corp. in a report on Thursday, June 30th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $24.29.
The company has a 50 day moving average price of $24.20 and a 200 day moving average price of $19.38. The company has a market cap of $1.15 billion and a PE ratio of 17.85.
Tutor Perini Corp. (NYSE:TPC) last released its quarterly earnings data on Tuesday, August 2nd. The company reported $0.43 EPS for the quarter, missing the Zacks’ consensus estimate of $0.51 by $0.08. The business had revenue of $1.31 billion for the quarter, compared to analysts’ expectations of $1.40 billion. During the same period last year, the business posted $0.41 earnings per share. Tutor Perini Corp.’s revenue for the quarter was down .3% on a year-over-year basis. On average, equities research analysts forecast that Tutor Perini Corp. will post $2.04 earnings per share for the current year.
A hedge fund recently raised its stake in Tutor Perini Corp. stock. Wells Fargo & Company MN boosted its position in Tutor Perini Corp. (NYSE:TPC) by 8.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,099,035 shares of the company’s stock after buying an additional 81,024 shares during the period. Wells Fargo & Company MN owned 2.24% of Tutor Perini Corp. worth $18,399,000 as of its most recent SEC filing.
Tutor Perini Corporation, formerly Perini Corporation, is a construction company offering general contracting, construction management and design-build services to private customers and public agencies. The Company operates through three segments. The Civil segment specializes in public works construction and the repair, replacement and reconstruction of infrastructure.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.