Fluor (NYSE:FLR) Price Target Raised to $48.00

Fluor (NYSE:FLR) had its target price upped by Robert W. Baird from $45.00 to $48.00 in a research report released on Wednesday morning, Marketbeat reports. Robert W. Baird currently has a neutral rating on the construction company’s stock.

Several other equities research analysts have also issued reports on the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Fluor in a research report on Monday, December 29th. Wall Street Zen upgraded shares of Fluor from a “sell” rating to a “hold” rating in a report on Saturday, January 31st. Truist Financial boosted their target price on shares of Fluor from $51.00 to $56.00 and gave the company a “buy” rating in a research note on Monday, November 10th. DA Davidson raised their price target on shares of Fluor from $50.00 to $55.00 and gave the stock a “buy” rating in a research note on Monday, November 10th. Finally, UBS Group dropped their price objective on Fluor from $56.00 to $52.00 and set a “buy” rating on the stock in a research note on Thursday, November 13th. Four analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Fluor currently has an average rating of “Hold” and a consensus price target of $52.29.

Fluor Trading Up 1.6%

FLR opened at $53.67 on Wednesday. The firm has a market capitalization of $7.87 billion, a PE ratio of -68.80, a P/E/G ratio of 1.51 and a beta of 1.37. Fluor has a fifty-two week low of $29.20 and a fifty-two week high of $57.50. The company’s 50-day moving average is $44.56 and its 200 day moving average is $43.95. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.91 and a quick ratio of 1.45.

Fluor (NYSE:FLR) last announced its quarterly earnings results on Tuesday, February 17th. The construction company reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($0.01). Fluor had a positive return on equity of 7.96% and a negative net margin of 0.34%.The company had revenue of $4.18 billion for the quarter, compared to the consensus estimate of $4.27 billion. During the same quarter last year, the company posted $0.48 EPS. The company’s quarterly revenue was down 2.0% compared to the same quarter last year. As a group, research analysts predict that Fluor will post 2.5 earnings per share for the current fiscal year.

Institutional Trading of Fluor

A number of hedge funds and other institutional investors have recently bought and sold shares of FLR. MTM Investment Management LLC purchased a new position in shares of Fluor during the 2nd quarter valued at $26,000. Global Retirement Partners LLC boosted its stake in Fluor by 91.7% during the fourth quarter. Global Retirement Partners LLC now owns 650 shares of the construction company’s stock valued at $26,000 after buying an additional 311 shares during the period. IFP Advisors Inc purchased a new position in Fluor during the second quarter worth about $27,000. Assetmark Inc. raised its holdings in shares of Fluor by 249.0% in the 4th quarter. Assetmark Inc. now owns 677 shares of the construction company’s stock valued at $27,000 after acquiring an additional 483 shares in the last quarter. Finally, Los Angeles Capital Management LLC bought a new stake in shares of Fluor during the 4th quarter valued at about $27,000. Institutional investors own 88.07% of the company’s stock.

Fluor Company Profile

Fluor Corporation (NYSE: FLR) is a global engineering and construction firm that provides integrated solutions across the energy, chemicals, mining, clean energy, infrastructure and government services markets. The company’s core offerings include engineering, procurement, fabrication, construction, maintenance and project management services, with capabilities spanning feasibility studies, detailed design and turnkey delivery. Fluor’s diversified portfolio encompasses conventional oil and gas facilities, liquefied natural gas (LNG) plants, petrochemical facilities, power generation projects, transportation infrastructure and federal government programs.

Founded in 1912 by John Simon Fluor as the Fluor Construction Company in Pomona, California, the firm has grown into an industry leader headquartered in Irving, Texas.