Fluor (NYSE:FLR) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Fluor (NYSE:FLR) from a hold rating to a buy rating in a research note issued to investors on Saturday.

A number of other research analysts have also weighed in on FLR. Truist Financial reissued a “buy” rating and issued a $71.00 target price (up from $64.00) on shares of Fluor in a research note on Monday, August 10th. Citigroup increased their price target on Fluor from $56.00 to $68.00 and gave the company a “buy” rating in a report on Monday, August 10th. Weiss Ratings reiterated a “hold (c)” rating on shares of Fluor in a research report on Friday, August 7th. Barclays raised their target price on Fluor from $40.00 to $50.00 and gave the stock an “equal weight” rating in a research note on Monday, August 10th. Finally, Zacks Research upgraded Fluor from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 11th. Four research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $63.33.

Fluor Price Performance

Shares of NYSE FLR opened at $54.64 on Friday. The firm has a 50-day simple moving average of $51.25 and a 200-day simple moving average of $48.86. The company has a quick ratio of 1.80, a current ratio of 1.80 and a debt-to-equity ratio of 0.38. The stock has a market capitalization of $7.31 billion, a price-to-earnings ratio of -4.45, a price-to-earnings-growth ratio of 1.64 and a beta of 1.25. Fluor has a 52 week low of $39.33 and a 52 week high of $57.93.

Fluor (NYSE:FLR) last posted its quarterly earnings results on Friday, August 7th. The construction company reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.70 by $0.21. Fluor had a negative net margin of 12.85% and a positive return on equity of 8.82%. The firm had revenue of $4.33 billion for the quarter, compared to analyst estimates of $3.92 billion. During the same period in the previous year, the business posted $0.43 earnings per share. Fluor’s quarterly revenue was up 8.8% on a year-over-year basis. On average, equities analysts predict that Fluor will post 2.66 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Pierre Edward Bechelany sold 5,000 shares of Fluor stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $55.24, for a total transaction of $276,200.00. Following the sale, the insider owned 36,064 shares of the company’s stock, valued at approximately $1,992,175.36. The trade was a 12.18% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in FLR. Global Retirement Partners LLC purchased a new stake in Fluor in the second quarter valued at $25,000. Ancora Advisors LLC acquired a new stake in shares of Fluor during the 2nd quarter worth about $31,000. Assetmark Inc. raised its holdings in 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 buying an additional 483 shares during the period. Los Angeles Capital Management LLC acquired a new position in Fluor in the fourth quarter valued at about $27,000. Finally, Larson Financial Group LLC lifted its position in Fluor by 6,116.7% in the third quarter. Larson Financial Group LLC now owns 746 shares of the construction company’s stock valued at $31,000 after buying an additional 734 shares during the last quarter. 88.07% of the stock is currently owned by hedge funds and other institutional investors.

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.