Tutor Perini (NYSE:TPC) Stock Price Down 21.5% – Here’s Why

Tutor Perini Co. (NYSE:TPC)’s stock price fell 21.5% on Tuesday . The company traded as low as $25.06 and last traded at $19.90. 43,043 shares changed hands during mid-day trading, a decline of 93% from the average session volume of 611,891 shares. The stock had previously closed at $25.34.

Analyst Ratings Changes

TPC has been the subject of several analyst reports. StockNews.com lowered Tutor Perini from a “buy” rating to a “hold” rating in a report on Tuesday, January 28th. B. Riley upgraded Tutor Perini to a “strong-buy” rating in a research note on Tuesday, March 18th. Finally, Vertical Research started coverage on Tutor Perini in a research note on Tuesday, December 10th. They set a “buy” rating and a $38.00 target price for the company.

Tutor Perini Price Performance

The stock has a market cap of $1.32 billion, a P/E ratio of -9.99 and a beta of 1.73. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 0.53. The company’s fifty day simple moving average is $24.35 and its 200-day simple moving average is $25.67.

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 the consensus estimate of $1.08 billion. Tutor Perini had a negative net margin of 3.08% and a negative return on equity of 9.56%. During the same period in the previous year, the firm earned ($0.91) EPS.

Hedge Funds Weigh In On Tutor Perini

Hedge funds and other institutional investors have recently modified their holdings of the stock. Donald Smith & CO. Inc. lifted its holdings in shares of Tutor Perini by 5.5% during the fourth quarter. Donald Smith & CO. Inc. now owns 3,450,257 shares of the construction company’s stock valued at $83,496,000 after acquiring an additional 179,819 shares during the period. Dimensional Fund Advisors LP grew its stake in Tutor Perini by 6.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,825,350 shares of the construction company’s stock worth $68,373,000 after buying an additional 170,440 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Tutor Perini by 5.8% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,726,545 shares of the construction company’s stock worth $65,982,000 after buying an additional 148,425 shares in the last quarter. Fred Alger Management LLC raised its stake in shares of Tutor Perini by 91.9% in the fourth quarter. Fred Alger Management LLC now owns 1,133,014 shares of the construction company’s stock valued at $27,419,000 after acquiring an additional 542,647 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings 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 worth $27,795,000 after acquiring an additional 38,458 shares in the last quarter. Institutional investors own 65.01% of the company’s stock.

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.