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UBS Upgrades Tutor Perini Corporation to Buy
Jun 14, 2024 10:00 AM - Alex Lavoie
Image credit: Google Images
- UBS upgraded Tutor Perini Corporation) to "Buy," indicating a positive outlook on the company's stock.
- Tutor Perini's stock has seen a modest uptick, outperforming the Zacks S&P 500 composite and the Zacks Building Products Heavy Construction industry.
- Analysts' focus on earnings estimate revisions for Tutor Perini highlights confidence in the company's future earnings potential.
On June 13, 2024, UBS upgraded its rating on Tutor Perini Corporation (NYSE:TPC) to Buy, as highlighted by StreetInsider. This decision by UBS to upgrade TPC's rating to Buy comes at a time when the company's stock price stands at $19.20. Tutor Perini Corporation, a key player in the building products and heavy construction industries, has been under the investor's radar, especially given its recent performance trends and market movements.
Tutor Perini Corporation has seen a modest uptick in its stock value, with a 0.8% increase over the past month. This performance is particularly noteworthy when compared to the 4% change observed in both the Zacks S&P 500 composite and the Zacks Building Products and Heavy Construction industry. Such a comparison sheds light on the company's relative performance and the potential factors that could be influencing its market position.
The focus on earnings estimate revisions by analysts, as reported by Zacks.com, is a critical aspect to consider when evaluating Tutor Perini's stock. These revisions are essential as they reflect the analysts' updated expectations regarding the company's future earnings potential. A positive revision in earnings estimates often signals confidence in the company's future performance, potentially leading to an increase in stock price.
Currently, Tutor Perini Corporation is trading at $19.20 after experiencing a decrease of 3.37% or $0.67. The trading session saw fluctuations, with the stock price moving between a low of $19.15 and a high of $19.85. Over the past year, TPC's stock has reached a high of $23.19 and a low of $6.31, showcasing the volatility and the range within which the stock has been trading. With a market capitalization of approximately $1.00 billion and a trading volume of 334,914 shares on the New York Stock Exchange, Tutor Perini's market activity is a key indicator of its financial health and investor interest.
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