Tutor Perini (NYSE:TPC) Stock Price Down 21.5% – What’s Next?

Tutor Perini Co. (NYSE:TPC) shares were down 21.5% during mid-day trading on Tuesday . The stock traded as low as $25.06 and last traded at $19.90. Approximately 43,043 shares were traded during trading, a decline of 93% from the average daily volume of 611,891 shares. The stock had previously closed at $25.34.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on TPC shares. StockNews.com downgraded Tutor Perini from a “buy” rating to a “hold” rating in a research report on Tuesday, January 28th. B. Riley upgraded shares of Tutor Perini to a “strong-buy” rating in a research report on Tuesday, March 18th. Finally, Vertical Research initiated coverage on shares of Tutor Perini in a research note on Tuesday, December 10th. They issued a “buy” rating and a $38.00 price objective for the company.

Tutor Perini Stock Up 2.2 %

The company has a fifty day moving average of $24.32 and a two-hundred day moving average of $25.65. The company has a market cap of $1.36 billion, a PE ratio of -10.31 and a beta of 1.73. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.55 and a current ratio of 1.55.

Tutor Perini (NYSE:TPC) last posted its quarterly earnings data on Thursday, February 27th. The construction company reported ($1.51) earnings per share for the quarter, missing analysts’ consensus estimates of $0.29 by ($1.80). The firm had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.08 billion. Tutor Perini had a negative net margin of 3.08% and a negative return on equity of 9.56%. During the same quarter last year, the firm earned ($0.91) EPS.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Fred Alger Management LLC bought a new position in Tutor Perini in the 3rd quarter worth about $16,034,000. Boston Partners raised its position in shares of Tutor Perini by 1,801.4% in the 4th quarter. Boston Partners now owns 605,450 shares of the construction company’s stock worth $14,666,000 after acquiring an additional 573,608 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Tutor Perini by 611.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 536,384 shares of the construction company’s stock worth $14,568,000 after purchasing an additional 460,945 shares during the last quarter. Jacobs Levy Equity Management Inc. boosted its position in Tutor Perini by 129.4% during the third quarter. Jacobs Levy Equity Management Inc. now owns 783,396 shares of the construction company’s stock valued at $21,277,000 after purchasing an additional 441,858 shares in the last quarter. Finally, First Trust Advisors LP grew its stake in Tutor Perini by 74.6% in the fourth quarter. First Trust Advisors LP now owns 938,478 shares of the construction company’s stock valued at $22,711,000 after purchasing an additional 401,117 shares during the last quarter. Hedge funds and other institutional investors own 65.01% of the company’s stock.

About Tutor Perini

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.