B. Riley Forecasts Strong Price Appreciation for Tutor Perini (NYSE:TPC) Stock

by · The Cerbat Gem

Tutor Perini (NYSE:TPC – Free Report) had its target price hoisted by B. Riley from $38.00 to $40.00 in a research note published on Thursday,Benzinga reports. They currently have 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.

Several other brokerages have also issued reports on TPC. UBS Group boosted their target price on shares of Tutor Perini from $27.00 to $39.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. StockNews.com downgraded shares of Tutor Perini from a “buy” rating to a “hold” rating in a research report on Thursday, October 24th.

Get Our Latest Stock Analysis on TPC

Tutor Perini Trading Down 8.2 %

Shares of TPC stock opened at $30.51 on Thursday. The stock has a market capitalization of $1.60 billion, a P/E ratio of -12.16 and a beta of 1.50. The company has a current ratio of 1.55, a quick ratio of 1.65 and a debt-to-equity ratio of 0.53. The firm’s 50 day moving average is $26.08 and its 200 day moving average is $22.88. Tutor Perini has a 12-month low of $6.86 and a 12-month high of $34.55.

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

Hedge Funds Weigh In On Tutor Perini

Several large investors have recently added to or reduced their stakes in TPC. CWM LLC raised its position in shares of Tutor Perini by 142.8% during the 2nd quarter. CWM LLC now owns 1,714 shares of the construction company’s stock valued at $37,000 after purchasing an additional 1,008 shares during the period. Plato Investment Management Ltd purchased a new stake in Tutor Perini in the 3rd quarter worth $52,000. Allspring Global Investments Holdings LLC bought a new stake in Tutor Perini during the second quarter valued at about $51,000. nVerses Capital LLC purchased a new position in shares of Tutor Perini in the second quarter valued at about $63,000. Finally, USA Financial Formulas boosted its stake in shares of Tutor Perini by 19.6% in the third quarter. USA Financial Formulas now owns 3,451 shares of the construction company’s stock worth $94,000 after acquiring an additional 566 shares during the period. Hedge funds and other institutional investors own 65.01% of the company’s stock.

Tutor Perini Company Profile

(Get Free Report)

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.

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