Tutor Perini (NYSE:TPC) Reaches New 1-Year High on Analyst Upgrade

Tutor Perini Co. (NYSE:TPC)’s stock price hit a new 52-week high on Monday after UBS Group raised their price target on the stock from $40.00 to $41.00. UBS Group currently has a buy rating on the stock. Tutor Perini traded as high as $34.97 and last traded at $33.48, with a volume of 589 shares traded. The stock had previously closed at $32.71.

A number of other research firms have also recently weighed in on TPC. StockNews.com upgraded shares of Tutor Perini from a “hold” rating to a “buy” rating in a report on Thursday. B. Riley raised shares of Tutor Perini to a “strong-buy” rating in a report on Tuesday, March 18th.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Barclays PLC lifted its holdings in Tutor Perini by 298.0% in the 3rd quarter. Barclays PLC now owns 69,875 shares of the construction company’s stock valued at $1,898,000 after acquiring an additional 52,319 shares during the last quarter. Assenagon Asset Management S.A. grew its holdings in Tutor Perini by 67.3% during the fourth quarter. Assenagon Asset Management S.A. now owns 93,202 shares of the construction company’s stock valued at $2,255,000 after purchasing an additional 37,478 shares during the last quarter. Franklin Resources Inc. grew its stake in shares of Tutor Perini by 10.4% in the fourth quarter. Franklin Resources Inc. now owns 88,216 shares of the construction company’s stock worth $2,135,000 after acquiring an additional 8,309 shares during the last quarter. Hennessy Advisors Inc. lifted its position in Tutor Perini by 6.8% in the fourth quarter. Hennessy Advisors Inc. now owns 682,981 shares of the construction company’s stock worth $16,528,000 after purchasing an additional 43,600 shares during the period. Finally, Empowered Funds LLC lifted its position in Tutor Perini by 5.1% in the fourth quarter. Empowered Funds LLC now owns 282,247 shares of the construction company’s stock worth $6,830,000 after purchasing an additional 13,726 shares during the period. 65.01% of the stock is currently owned by hedge funds and other institutional investors.

Tutor Perini Stock Performance

The stock has a fifty day simple moving average of $23.14 and a 200-day simple moving average of $24.74. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.53. The company has a market capitalization of $1.76 billion, a P/E ratio of -13.34 and a beta of 1.62.

Tutor Perini (NYSE:TPC) last released its earnings results on Wednesday, May 7th. The construction company reported $0.53 EPS 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 analysts’ expectations of $1.08 billion. Tutor Perini had a negative return on equity of 9.56% and a negative net margin of 3.08%. The business’s quarterly revenue was up 18.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.30 EPS.

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.