Tutor Perini (NYSE:TPC) Stock Price Down 28% – Should You Sell?

Tutor Perini Co. (NYSE:TPC)’s stock price was down 28% during trading on Thursday . The stock traded as low as $26.58 and last traded at $19.55. Approximately 179,683 shares changed hands during trading, a decline of 68% from the average daily volume of 557,470 shares. The stock had previously closed at $27.16.

Analysts Set New Price Targets

A number of brokerages have weighed in on TPC. Vertical Research began coverage on shares of Tutor Perini in a report on Tuesday, December 10th. They issued a “buy” rating and a $38.00 price target for the company. StockNews.com upgraded Tutor Perini from a “hold” rating to a “buy” rating in a research report on Friday, January 3rd. B. Riley boosted their price objective on Tutor Perini from $38.00 to $40.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Finally, UBS Group upped their target price on Tutor Perini from $27.00 to $39.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd.

Tutor Perini Stock Performance

The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.55 and a current ratio of 1.55. The firm has a 50 day moving average price of $25.98 and a two-hundred day moving average price of $25.08. The company has a market capitalization of $1.40 billion, a P/E ratio of -10.66 and a beta of 1.54.

Tutor Perini (NYSE:TPC) last announced its quarterly earnings results on Wednesday, November 6th. The construction company reported ($1.92) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.89) by ($0.03). The company had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.17 billion. Tutor Perini had a negative net margin of 3.08% and a negative return on equity of 9.56%. The business’s revenue was up 2.1% on a year-over-year basis. During the same quarter last year, the company earned ($0.71) earnings per share. On average, research analysts expect that Tutor Perini Co. will post -1.47 earnings per share for the current fiscal year.

Insider Transactions at Tutor Perini

In other Tutor Perini news, CEO Ronald N. Tutor sold 125,000 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $30.72, for a total transaction of $3,840,000.00. Following the sale, the chief executive officer now owns 3,257,313 shares of the company’s stock, valued at $100,064,655.36. This represents a 3.70 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Raymond R. Oneglia sold 50,000 shares of the business’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $28.68, for a total transaction of $1,434,000.00. Following the completion of the transaction, the director now directly owns 250,000 shares of the company’s stock, valued at approximately $7,170,000. This represents a 16.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 325,000 shares of company stock valued at $9,686,000. Corporate insiders own 19.50% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Barclays PLC raised its stake in shares of Tutor Perini by 298.0% during the third quarter. Barclays PLC now owns 69,875 shares of the construction company’s stock worth $1,898,000 after buying an additional 52,319 shares during the last quarter. Foundry Partners LLC grew its holdings in Tutor Perini by 18.2% during the 3rd quarter. Foundry Partners LLC now owns 216,915 shares of the construction company’s stock worth $5,891,000 after acquiring an additional 33,440 shares during the period. JPMorgan Chase & Co. raised its position 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 valued at $14,568,000 after acquiring an additional 460,945 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Tutor Perini by 3.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,023,198 shares of the construction company’s stock valued at $27,795,000 after purchasing an additional 38,458 shares during the period. Finally, Empowered Funds LLC boosted its position in shares of Tutor Perini by 13.9% in the 3rd quarter. Empowered Funds LLC now owns 268,521 shares of the construction company’s stock worth $7,293,000 after purchasing an additional 32,676 shares during the last quarter. 65.01% of the stock is currently owned by institutional investors.

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.