Traders Purchase Large Volume of Tutor Perini Call Options (NYSE:TPC)

Tutor Perini Corp (NYSE:TPC) was the target of some unusual options trading activity on Wednesday. Stock traders acquired 3,400 call options on the company. This represents an increase of approximately 1,173% compared to the average volume of 267 call options.

TPC has been the topic of a number of recent research reports. Zacks Investment Research downgraded shares of Tutor Perini from a “hold” rating to a “strong sell” rating in a report on Tuesday, March 3rd. DA Davidson cut their price target on shares of Tutor Perini from $22.00 to $18.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. B. Riley cut their price target on shares of Tutor Perini from $19.00 to $17.00 and set a “buy” rating on the stock in a report on Tuesday, March 17th. Finally, ValuEngine upgraded shares of Tutor Perini from a “sell” rating to a “hold” rating in a report on Friday, January 3rd. One analyst has rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the stock. Tutor Perini has an average rating of “Hold” and a consensus target price of $18.00.

Tutor Perini stock opened at $7.08 on Friday. The company has a market capitalization of $307.33 million, a P/E ratio of -0.92 and a beta of 1.36. The firm’s fifty day simple moving average is $10.64 and its 200-day simple moving average is $13.25. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 0.50. Tutor Perini has a 1-year low of $2.61 and a 1-year high of $20.37.

Tutor Perini (NYSE:TPC) last posted its earnings results on Wednesday, February 26th. The construction company reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.82). Tutor Perini had a negative net margin of 8.71% and a positive return on equity of 2.19%. The firm had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.27 billion. On average, equities research analysts predict that Tutor Perini will post 1.8 earnings per share for the current year.

A number of large investors have recently bought and sold shares of the stock. Norges Bank acquired a new position in Tutor Perini in the 4th quarter valued at $3,264,000. Geode Capital Management LLC grew its stake in Tutor Perini by 3.4% in the 4th quarter. Geode Capital Management LLC now owns 518,667 shares of the construction company’s stock valued at $6,670,000 after buying an additional 17,137 shares during the last quarter. Alberta Investment Management Corp acquired a new position in Tutor Perini in the 4th quarter valued at $283,000. Advisors Asset Management Inc. grew its stake in Tutor Perini by 7.0% in the 4th quarter. Advisors Asset Management Inc. now owns 101,361 shares of the construction company’s stock valued at $1,304,000 after buying an additional 6,601 shares during the last quarter. Finally, Cubist Systematic Strategies LLC grew its stake in Tutor Perini by 121.8% in the 4th quarter. Cubist Systematic Strategies LLC now owns 70,505 shares of the construction company’s stock valued at $907,000 after buying an additional 38,713 shares during the last quarter. Institutional investors and hedge funds own 92.65% of the company’s stock.

Tutor Perini Company Profile

Tutor Perini Corporation, a construction company, provides diversified general contracting, construction management, and design-build services to private customers and public agencies worldwide. The company operates through three segments: Civil, Building, and Specialty Contractors. The Civil segment engages in the public works construction, replacement, and reconstruction of infrastructure, including highways, bridges, tunnels, mass-transit systems, and water management and wastewater treatment facilities.

Read More: Day Trading

Receive News & Ratings for Tutor Perini Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tutor Perini and related companies with MarketBeat.com's FREE daily email newsletter.