Tutor Perini (NYSE:TPC) Price Target Raised to $40.00

Tutor Perini (NYSE:TPC) had its price target increased by B. Riley from $38.00 to $40.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has a buy rating on the construction company’s stock. B. Riley also issued estimates for Tutor Perini’s Q4 2024 earnings at $0.30 EPS.

Other research analysts also recently issued reports about the company. StockNews.com downgraded Tutor Perini from a “buy” rating to a “hold” rating in a report on Thursday, October 24th. UBS Group upped their price target on Tutor Perini from $27.00 to $39.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd.

Tutor Perini Price Performance

Tutor Perini stock opened at $30.51 on Thursday. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.55 and a quick ratio of 1.65. The business’s fifty day simple moving average is $26.08 and its two-hundred day simple moving average is $22.82. Tutor Perini has a 12 month low of $6.86 and a 12 month high of $34.55.

Tutor Perini (NYSE:TPC) last released its earnings results on Wednesday, November 6th. The construction company reported ($1.92) EPS for the quarter, missing the consensus estimate of ($1.89) by ($0.03). Tutor Perini had a negative return on equity of 9.56% and a negative net margin of 3.08%. The company had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.17 billion. During the same period last year, the firm posted ($0.71) earnings per share. The company’s revenue was up 2.1% compared to the same quarter last year. Equities analysts expect that Tutor Perini will post -1.47 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of TPC. CWM LLC lifted its holdings in Tutor Perini by 142.8% in the second quarter. CWM LLC now owns 1,714 shares of the construction company’s stock valued at $37,000 after acquiring an additional 1,008 shares during the period. Allspring Global Investments Holdings LLC bought a new position in Tutor Perini in the second quarter valued at about $51,000. Plato Investment Management Ltd bought a new position in Tutor Perini in the third quarter valued at about $52,000. nVerses Capital LLC bought a new position in Tutor Perini in the second quarter valued at about $63,000. Finally, EntryPoint Capital LLC bought a new position in Tutor Perini in the first quarter valued at about $77,000. 65.01% of the stock is 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.