Fluor (NYSE:FLR) Lowered to Strong Sell Rating by Zacks Research

Zacks Research cut shares of Fluor (NYSE:FLR) from a hold rating to a strong sell rating in a research report released on Tuesday morning,Zacks.com reports.

FLR has been the subject of several other research reports. Robert W. Baird increased their price target on shares of Fluor from $48.00 to $49.00 and gave the stock a “neutral” rating in a research report on Monday, May 11th. Weiss Ratings upgraded Fluor from a “sell (d+)” rating to a “hold (c)” rating in a research report on Monday, May 11th. Citigroup lowered their price target on Fluor from $61.00 to $56.00 and set a “buy” rating on the stock in a research report on Monday, May 11th. Finally, Truist Financial increased their price objective on Fluor from $57.00 to $64.00 and gave the stock a “buy” rating in a research note on Thursday, July 2nd. Four analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Fluor currently has a consensus rating of “Hold” and a consensus target price of $54.50.

Fluor Stock Performance

Shares of NYSE FLR opened at $49.56 on Tuesday. The business has a fifty day simple moving average of $49.12 and a 200 day simple moving average of $47.25. The company has a current ratio of 1.78, a quick ratio of 1.78 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $6.92 billion, a price-to-earnings ratio of 28.82, a PEG ratio of 1.54 and a beta of 1.23. Fluor has a one year low of $37.62 and a one year high of $57.50.

Fluor (NYSE:FLR) last posted its quarterly earnings results on Friday, May 8th. The construction company reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.52). Fluor had a return on equity of 5.90% and a net margin of 2.30%.The business had revenue of $3.66 billion for the quarter, compared to analyst estimates of $3.89 billion. During the same quarter in the prior year, the firm earned $0.73 EPS. The firm’s quarterly revenue was down 8.0% on a year-over-year basis. Sell-side analysts expect that Fluor will post 2.63 EPS for the current year.

Institutional Investors Weigh In On Fluor

Hedge funds and other institutional investors have recently bought and sold shares of the business. Starboard Value LP acquired a new position in Fluor in the fourth quarter worth $205,732,000. AQR Capital Management LLC lifted its position in Fluor by 163.1% during the 4th quarter. AQR Capital Management LLC now owns 5,167,676 shares of the construction company’s stock worth $204,795,000 after buying an additional 3,203,712 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Fluor by 9.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,515,657 shares of the construction company’s stock worth $178,962,000 after acquiring an additional 377,985 shares during the last quarter. Rubric Capital Management LP grew its holdings in Fluor by 12.5% during the 3rd quarter. Rubric Capital Management LP now owns 4,500,000 shares of the construction company’s stock worth $189,315,000 after acquiring an additional 500,000 shares during the last quarter. Finally, Morgan Stanley increased its position in Fluor by 0.6% in the 4th quarter. Morgan Stanley now owns 3,405,733 shares of the construction company’s stock valued at $134,969,000 after acquiring an additional 20,210 shares in the last quarter. 88.07% of the stock is owned by institutional investors and hedge funds.

About Fluor

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.