Tutor Perini (NYSE:TPC) Downgraded by StockNews.com

Tutor Perini (NYSE:TPC) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Thursday.

Separately, UBS Group lifted their price objective on Tutor Perini from $27.00 to $39.00 and gave the stock a “buy” rating in a report on Wednesday.

Tutor Perini Stock Down 6.6 %

Shares of TPC stock traded down $1.87 on Thursday, hitting $26.38. The stock had a trading volume of 615,620 shares, compared to its average volume of 450,342. The stock’s 50 day moving average is $24.81 and its 200-day moving average is $21.67. The firm has a market capitalization of $1.38 billion, a price-to-earnings ratio of -12.93 and a beta of 1.50. Tutor Perini has a 52-week low of $6.86 and a 52-week high of $30.99. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.65 and a current ratio of 1.65.

Tutor Perini (NYSE:TPC) last posted its quarterly earnings data on Thursday, August 1st. The construction company reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.15). The firm had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.14 billion. Tutor Perini had a negative net margin of 1.59% and a negative return on equity of 4.49%. The business’s quarterly revenue was up 10.4% on a year-over-year basis. During the same period in the previous year, the company earned ($0.72) earnings per share. As a group, research analysts expect that Tutor Perini will post 1.12 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in TPC. Hennessy Advisors Inc. bought a new position in shares of Tutor Perini during the second quarter worth about $12,362,000. American Century Companies Inc. lifted its holdings in Tutor Perini by 59.9% during the 2nd quarter. American Century Companies Inc. now owns 759,665 shares of the construction company’s stock worth $16,546,000 after buying an additional 284,627 shares during the last quarter. Acadian Asset Management LLC lifted its holdings in Tutor Perini by 84.4% during the 2nd quarter. Acadian Asset Management LLC now owns 539,336 shares of the construction company’s stock worth $11,742,000 after buying an additional 246,901 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Tutor Perini by 9.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,399,544 shares of the construction company’s stock worth $52,263,000 after acquiring an additional 198,348 shares in the last quarter. Finally, Algert Global LLC bought a new stake in shares of Tutor Perini in the 2nd quarter valued at approximately $4,138,000. 65.01% of the stock is owned by institutional investors and hedge funds.

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.