Tutor Perini (NYSE:TPC) Stock Price Down 21.8% – What’s Next?

Tutor Perini Co. (NYSE:TPC) shares dropped 21.8% on Monday . The company traded as low as $25.33 and last traded at $20.02. Approximately 72,740 shares changed hands during trading, a decline of 85% from the average daily volume of 489,069 shares. The stock had previously closed at $25.60.

Analyst Ratings Changes

TPC has been the topic of several research reports. Vertical Research initiated coverage on shares of Tutor Perini in a research report on Tuesday, December 10th. They issued a “buy” rating and a $38.00 price objective on the stock. StockNews.com lowered shares of Tutor Perini from a “buy” rating to a “hold” rating in a research report on Tuesday, January 28th.

Tutor Perini Trading Up 0.8 %

The firm’s 50 day moving average is $24.20 and its 200 day moving average is $25.55. The company has a market cap of $1.35 billion, a PE ratio of -10.32 and a beta of 1.73. 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 issued its quarterly earnings data on Thursday, February 27th. The construction company reported ($1.51) EPS for the quarter, missing the consensus estimate of $0.29 by ($1.80). The firm had revenue of $1.07 billion for the quarter, compared to analysts’ expectations 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 prior year, the firm posted ($0.91) EPS.

Hedge Funds Weigh In On Tutor Perini

Several hedge funds have recently bought and sold shares of TPC. FMR LLC grew its stake in Tutor Perini by 103.1% in the 3rd quarter. FMR LLC now owns 4,725 shares of the construction company’s stock worth $128,000 after buying an additional 2,399 shares in the last quarter. State of Wyoming grew its stake in Tutor Perini by 39.7% in the 4th quarter. State of Wyoming now owns 6,212 shares of the construction company’s stock worth $150,000 after buying an additional 1,764 shares in the last quarter. Y Intercept Hong Kong Ltd purchased a new position in Tutor Perini in the 3rd quarter worth approximately $201,000. Optimize Financial Inc purchased a new position in Tutor Perini in the 4th quarter worth approximately $221,000. Finally, KLP Kapitalforvaltning AS purchased a new position in Tutor Perini in the 4th quarter worth approximately $232,000. Hedge funds and other 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.