Fluor (NYSE:FLR) Price Target Raised to $51.00

Fluor (NYSE:FLR) had its price objective lifted by UBS Group from $49.00 to $51.00 in a research report report published on Tuesday morning, Benzinga reports. UBS Group currently has a buy rating on the construction company’s stock.

A number of other brokerages have also issued reports on FLR. Barclays raised their target price on Fluor from $39.00 to $45.00 and gave the stock an equal weight rating in a research note on Thursday, July 18th. Truist Financial raised their target price on Fluor from $54.00 to $61.00 and gave the stock a buy rating in a research note on Monday. Robert W. Baird raised their target price on Fluor from $46.00 to $54.00 and gave the stock an outperform rating in a research note on Monday. Citigroup raised their target price on Fluor from $47.00 to $52.00 and gave the stock a neutral rating in a research note on Monday, July 22nd. Finally, KeyCorp upgraded Fluor from a sector weight rating to an overweight rating and set a $57.00 target price for the company in a research note on Wednesday, July 17th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of Moderate Buy and a consensus price target of $54.00.

Fluor Stock Down 1.4 %

NYSE FLR traded down $0.67 during midday trading on Tuesday, hitting $48.23. 636,285 shares of the company traded hands, compared to its average volume of 1,576,504. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.67 and a quick ratio of 1.67. The company has a market cap of $8.26 billion, a PE ratio of 28.43, a price-to-earnings-growth ratio of 2.55 and a beta of 1.99. Fluor has a 52 week low of $32.31 and a 52 week high of $51.64. The company’s 50-day simple moving average is $45.72 and its 200-day simple moving average is $41.68.

Fluor (NYSE:FLR) last posted its quarterly earnings data on Friday, August 2nd. The construction company reported $0.85 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.17. The firm had revenue of $4.23 billion during the quarter, compared to analysts’ expectations of $4.34 billion. Fluor had a return on equity of 24.98% and a net margin of 1.97%. The business’s quarterly revenue was up 7.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.76 EPS. As a group, equities research analysts forecast that Fluor will post 2.9 earnings per share for the current year.

Hedge Funds Weigh In On Fluor

A number of institutional investors have recently modified their holdings of FLR. GAMMA Investing LLC acquired a new stake in shares of Fluor during the 4th quarter valued at about $27,000. Rise Advisors LLC acquired a new stake in shares of Fluor during the 1st quarter valued at about $28,000. ORG Partners LLC acquired a new stake in shares of Fluor during the 2nd quarter valued at about $34,000. Tennessee Valley Asset Management Partners acquired a new stake in shares of Fluor during the 4th quarter valued at about $36,000. Finally, Spire Wealth Management grew its position in shares of Fluor by 59.2% during the 4th quarter. Spire Wealth Management now owns 1,008 shares of the construction company’s stock valued at $37,000 after acquiring an additional 375 shares during the period. Hedge funds and other institutional investors own 88.07% of the company’s stock.

Fluor Company Profile

Fluor Corporation provides engineering, procurement, and construction (EPC); fabrication and modularization; operation and maintenance; asset integrity; and project management services worldwide. The company operates through Energy Solutions, Urban Solutions, Mission Solutions, and Other segments. The Energy Solutions segment provides solutions to the energy transition markets, including asset decarbonization, carbon capture, renewable fuels, waste-to-energy, green chemicals, hydrogen, nuclear power, and other low-carbon energy sources.