Trade Report: Today, Tutor Perini Corp. (TPC) Raised to “Buy” at Standpoint Research

Today, Tutor Perini Corp. (TPC) Raised to “Buy” at Standpoint Research

Standpoint Research upgraded shares of Tutor Perini Corp. (NYSE:TPC) from a hold rating to a buy rating in a research report report published on Monday morning.

A number of other analysts also recently weighed in on TPC. MKM Partners started coverage on Tutor Perini Corp. in a research report on Wednesday, June 29th. They set a neutral rating and a $23.00 target price for the company. Canaccord Genuity reiterated a buy rating and set a $18.00 target price on shares of Tutor Perini Corp. in a research report on Wednesday, June 29th. FBR & Co reiterated an outperform rating and set a $26.00 target price (up from $22.00) on shares of Tutor Perini Corp. in a research report on Thursday, June 30th. Zacks Investment Research downgraded Tutor Perini Corp. from a strong-buy rating to a hold rating in a research report on Wednesday, July 6th. Finally, TheStreet downgraded Tutor Perini Corp. from a buy rating to a hold rating in a research report on Wednesday, August 3rd. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company presently has an average rating of Buy and a consensus target price of $24.29.

Tutor Perini Corp. (NYSE:TPC) opened at 20.75 on Monday. The stock’s 50 day moving average price is $22.09 and its 200 day moving average price is $21.06. Tutor Perini Corp. has a 52-week low of $10.16 and a 52-week high of $25.98. The firm has a market capitalization of $1.02 billion, a price-to-earnings ratio of 15.84 and a beta of 2.48.

Tutor Perini Corp. (NYSE:TPC) last released its earnings results on Tuesday, August 2nd. The company reported $0.43 earnings per share for the quarter, missing analysts’ consensus estimates of $0.51 by $0.08. The company had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.40 billion. Tutor Perini Corp. had a net margin of 1.32% and a return on equity of 5.49%. The business’s revenue was down .3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.41 earnings per share. On average, equities analysts anticipate that Tutor Perini Corp. will post $2.04 earnings per share for the current fiscal year.

Institutional investors have recently bought and sold shares of the stock. Alliancebernstein L.P. increased its position in Tutor Perini Corp. by 4,055.5% in the second quarter. Alliancebernstein L.P. now owns 2,118,507 shares of the company’s stock valued at $49,891,000 after buying an additional 2,067,526 shares in the last quarter. Foundry Partners LLC purchased a new position in Tutor Perini Corp. during the second quarter valued at approximately $11,588,000. Fiera Capital Corp purchased a new position in Tutor Perini Corp. during the second quarter valued at approximately $10,627,000. Emerald Acquisition Ltd. purchased a new position in Tutor Perini Corp. during the second quarter valued at approximately $8,963,000. Finally, Artemis Investment Management LLP purchased a new position in Tutor Perini Corp. during the second quarter valued at approximately $8,597,000. Hedge funds and other institutional investors own 82.48% of the company’s stock.

About Tutor Perini Corp.

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