Tutor Perini (NYSE:TPC) Rating Increased to Buy at StockNews.com

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

Separately, B. Riley raised shares of Tutor Perini to a “strong-buy” rating in a research report on Tuesday, March 18th.

Tutor Perini Stock Up 26.0 %

Shares of TPC opened at $29.77 on Thursday. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.55 and a quick ratio of 1.55. The company has a market capitalization of $1.57 billion, a P/E ratio of -11.86 and a beta of 1.62. Tutor Perini has a one year low of $14.50 and a one year high of $34.55. The business’s 50 day simple moving average is $23.04 and its 200-day simple moving average is $24.76.

Tutor Perini (NYSE:TPC) last released its earnings results on Wednesday, May 7th. The construction company reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.47. The firm had revenue of $1.25 billion for the quarter, compared to analyst estimates of $1.08 billion. Tutor Perini had a negative return on equity of 9.56% and a negative net margin of 3.08%. The company’s quarterly revenue was up 18.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.30 earnings per share.

Institutional Investors Weigh In On Tutor Perini

Several institutional investors and hedge funds have recently added to or reduced their stakes in TPC. GAMMA Investing LLC boosted its stake in Tutor Perini by 32.5% in the 1st quarter. GAMMA Investing LLC now owns 2,080 shares of the construction company’s stock worth $48,000 after purchasing an additional 510 shares during the period. Commonwealth Equity Services LLC increased its position in shares of Tutor Perini by 7.3% during the fourth quarter. Commonwealth Equity Services LLC now owns 10,291 shares of the construction company’s stock valued at $249,000 after buying an additional 700 shares during the period. CWM LLC lifted its position in Tutor Perini by 32.8% during the 1st quarter. CWM LLC now owns 3,442 shares of the construction company’s stock valued at $80,000 after acquiring an additional 850 shares during the period. New York State Common Retirement Fund increased its holdings in shares of Tutor Perini by 8.8% during the first quarter. New York State Common Retirement Fund now owns 12,358 shares of the construction company’s stock valued at $286,000 after acquiring an additional 1,000 shares in the last quarter. Finally, Envestnet Asset Management Inc. lifted its holdings in shares of Tutor Perini by 7.5% during the first quarter. Envestnet Asset Management Inc. now owns 15,677 shares of the construction company’s stock valued at $363,000 after purchasing an additional 1,096 shares in the last quarter. Hedge funds and other institutional investors own 65.01% 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 in the United States and internationally. It operates through three segments: Civil, Building, and Specialty Contractors.