Fluor (NYSE:FLR) Stock Price Expected to Rise, Truist Financial Analyst Says

Fluor (NYSE:FLR) had its price target hoisted by equities researchers at Truist Financial from $57.00 to $64.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the construction company’s stock. Truist Financial’s price target would suggest a potential upside of 26.91% from the stock’s current price.

A number of other equities research analysts also recently weighed in on FLR. Robert W. Baird lifted their price target on shares of Fluor from $48.00 to $49.00 and gave the stock a “neutral” rating in a research note on Monday, May 11th. Zacks Research cut shares of Fluor from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 20th. Citigroup reduced their price objective on shares of Fluor from $61.00 to $56.00 and set a “buy” rating for the company in a report on Monday, May 11th. Finally, Weiss Ratings raised shares of Fluor from a “sell (d+)” rating to a “hold (c)” rating in a research note on Monday, May 11th. Four analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $54.50.

Fluor Trading Down 3.7%

Shares of FLR opened at $50.43 on Thursday. The stock’s 50-day moving average price is $49.00 and its 200 day moving average price is $46.99. The company has a quick ratio of 1.78, a current ratio of 1.78 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $7.04 billion, a price-to-earnings ratio of 29.32, a P/E/G ratio of 1.65 and a beta of 1.23. Fluor has a 12-month low of $37.62 and a 12-month high of $57.50.

Fluor (NYSE:FLR) last announced its quarterly earnings data on Friday, May 8th. The construction company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.66 by ($0.52). The firm had revenue of $3.66 billion for the quarter, compared to analyst estimates of $3.89 billion. Fluor had a return on equity of 5.90% and a net margin of 2.30%.Fluor’s revenue for the quarter was down 8.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.73 EPS. As a group, research analysts predict that Fluor will post 2.64 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Seelaus Asset Management LLC increased its position in shares of Fluor by 2.9% during the 4th quarter. Seelaus Asset Management LLC now owns 8,790 shares of the construction company’s stock worth $348,000 after purchasing an additional 245 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its position in Fluor by 7.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,782 shares of the construction company’s stock valued at $194,000 after buying an additional 248 shares in the last quarter. Clear Creek Financial Management LLC grew its stake in Fluor by 2.7% during the fourth quarter. Clear Creek Financial Management LLC now owns 11,756 shares of the construction company’s stock worth $466,000 after buying an additional 310 shares during the last quarter. Global Retirement Partners LLC grew 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 worth $26,000 after buying an additional 311 shares during the last quarter. Finally, Allworth Financial LP increased its holdings in shares of Fluor by 5.8% during the third quarter. Allworth Financial LP now owns 6,871 shares of the construction company’s stock worth $289,000 after buying an additional 374 shares in the last quarter. 88.07% of the stock is owned by institutional investors.

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.