Analysts Set Fluor Corporation (NYSE:FLR) Price Target at $53.33

Shares of Fluor Corporation (NYSE:FLR) have received a consensus rating of “Moderate Buy” from the eight ratings firms that are currently covering the company, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $53.3333.

A number of analysts have recently commented on FLR shares. DA Davidson boosted their price target on Fluor from $55.00 to $60.00 and gave the stock a “buy” rating in a research report on Thursday, February 19th. Robert W. Baird raised their price objective on Fluor from $48.00 to $49.00 and gave the company a “neutral” rating in a research report on Monday, May 11th. UBS Group reissued a “buy” rating and issued a $57.00 target price on shares of Fluor in a report on Thursday, February 19th. Citigroup cut their target price on Fluor from $61.00 to $56.00 and set a “buy” rating on the stock in a research note on Monday, May 11th. Finally, Truist Financial reiterated a “buy” rating and issued a $57.00 price target (down from $59.00) on shares of Fluor in a research note on Monday, May 11th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Starboard Value LP purchased a new position in Fluor in the 4th quarter worth approximately $205,732,000. Rubric Capital Management LP purchased a new stake in Fluor during the 2nd quarter valued at $205,080,000. AQR Capital Management LLC increased its holdings in shares of Fluor by 163.1% in the 4th quarter. AQR Capital Management LLC now owns 5,167,676 shares of the construction company’s stock worth $204,795,000 after purchasing an additional 3,203,712 shares in the last quarter. Sourcerock Group LLC purchased a new position in shares of Fluor in the second quarter worth $85,327,000. Finally, Maverick Capital Ltd. purchased a new position in shares of Fluor in the first quarter worth $66,036,000. Institutional investors own 88.07% of the company’s stock.

Fluor Price Performance

FLR opened at $47.01 on Thursday. The stock has a fifty day simple moving average of $47.74 and a two-hundred day simple moving average of $45.99. 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 company has a market cap of $6.57 billion, a price-to-earnings ratio of 27.33, a price-to-earnings-growth ratio of 1.53 and a beta of 1.25. Fluor has a 12-month low of $37.62 and a 12-month high of $57.50.

Fluor (NYSE:FLR) last posted its quarterly earnings data on Friday, May 8th. The construction company reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.52). The firm had revenue of $3.66 billion during the quarter, compared to the consensus estimate 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 quarter last year, the company posted $0.73 EPS. Research analysts predict that Fluor will post 2.69 earnings per share for the current fiscal year.

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.