B. Riley Increases Tutor Perini (NYSE:TPC) Price Target to $23.00
Tutor Perini (NYSE:TPC) had its target price lifted by investment analysts at B. Riley from $18.00 to $23.00 in a research report issued to clients and investors on Thursday, The Fly reports. The firm presently has a “buy” rating on the construction company’s stock. B. Riley’s price objective would indicate a potential upside of 24.53% from the company’s previous close.
A number of other equities research analysts have also recently issued reports on TPC. DA Davidson reissued a “buy” rating and set a $18.00 target price on shares of Tutor Perini in a report on Monday, August 12th. TheStreet cut shares of Tutor Perini from a “c” rating to a “d” rating in a report on Thursday, August 29th. Zacks Investment Research cut shares of Tutor Perini from a “hold” rating to a “strong sell” rating in a report on Wednesday, August 14th. Finally, ValuEngine raised shares of Tutor Perini from a “strong sell” rating to a “sell” rating in a report on Wednesday. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company’s stock. Tutor Perini presently has a consensus rating of “Hold” and an average target price of $21.67.
TPC stock remained flat at $$18.47 during midday trading on Thursday. 635,241 shares of the company’s stock were exchanged, compared to its average volume of 463,624. The firm has a 50 day moving average price of $15.28 and a 200-day moving average price of $14.20. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.03 and a quick ratio of 2.03. Tutor Perini has a 1-year low of $9.24 and a 1-year high of $20.52. The stock has a market capitalization of $928.67 million, a price-to-earnings ratio of 9.67 and a beta of 1.96.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Point72 Hong Kong Ltd purchased a new position in Tutor Perini in the second quarter worth $25,000. Tower Research Capital LLC TRC purchased a new position in Tutor Perini in the third quarter worth $57,000. Kempen Capital Management N.V. grew its position in Tutor Perini by 39.8% in the second quarter. Kempen Capital Management N.V. now owns 4,640 shares of the construction company’s stock worth $64,000 after acquiring an additional 1,320 shares in the last quarter. Bank of Montreal Can grew its position in Tutor Perini by 190.5% in the second quarter. Bank of Montreal Can now owns 5,118 shares of the construction company’s stock worth $71,000 after acquiring an additional 3,356 shares in the last quarter. Finally, NumerixS Investment Technologies Inc grew its position in Tutor Perini by 133.3% in the second quarter. NumerixS Investment Technologies Inc now owns 8,400 shares of the construction company’s stock worth $117,000 after acquiring an additional 4,800 shares in the last quarter. Hedge funds and other institutional investors own 92.36% of the company’s stock.
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 worldwide. The company operates through three segments: Civil, Building, and Specialty Contractors. The Civil segment engages in the public works construction, replacement, and reconstruction of infrastructure, including highways, bridges, tunnels, mass-transit systems, and water management and wastewater treatment facilities.
Read More: Equity Income
Receive News & Ratings for Tutor Perini Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tutor Perini and related companies with MarketBeat.com's FREE daily email newsletter.