Tutor Perini (NYSE:TPC) Shares Gap Up – What’s Next?

Tutor Perini Co. (NYSE:TPC)’s share price gapped up before the market opened on Friday . The stock had previously closed at $21.87, but opened at $24.77. Tutor Perini shares last traded at $26.87, with a volume of 135,430 shares trading hands.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on TPC shares. Vertical Research started coverage on shares of Tutor Perini in a research note on Tuesday, December 10th. They set a “buy” rating and a $38.00 target price on the stock. B. Riley raised their target price on Tutor Perini from $38.00 to $40.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Finally, StockNews.com downgraded Tutor Perini from a “buy” rating to a “hold” rating in a research note on Tuesday, January 28th.

Tutor Perini Stock Performance

The stock has a market cap of $1.54 billion, a price-to-earnings ratio of -11.73 and a beta of 1.52. The company’s fifty day simple moving average is $23.87 and its two-hundred day simple moving average is $25.15. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.55 and a quick ratio of 1.55.

Tutor Perini (NYSE:TPC) last posted its earnings results 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 business had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.08 billion. Tutor Perini had a negative return on equity of 9.56% and a negative net margin of 3.08%. During the same quarter in the prior year, the company earned ($0.91) EPS.

Hedge Funds Weigh In On Tutor Perini

Several large investors have recently bought and sold shares of TPC. Fred Alger Management LLC purchased a new stake in shares of Tutor Perini in the third quarter valued at about $16,034,000. Boston Partners grew its position in 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 purchasing an additional 573,608 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Tutor Perini by 611.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 536,384 shares of the construction company’s stock valued at $14,568,000 after buying an additional 460,945 shares during the last quarter. Jacobs Levy Equity Management Inc. lifted its position in shares of Tutor Perini by 129.4% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 783,396 shares of the construction company’s stock worth $21,277,000 after buying an additional 441,858 shares in the last quarter. Finally, First Trust Advisors LP boosted its stake in shares of Tutor Perini by 74.6% in the 4th quarter. First Trust Advisors LP now owns 938,478 shares of the construction company’s stock worth $22,711,000 after buying an additional 401,117 shares during the last quarter. 65.01% of the stock is currently owned by institutional investors.

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.