Fluor Corporation (NYSE:FLR) Stock Has Average Target Price of $63.33 According to Analysts

Fluor Corporation (NYSE:FLR) has received an average recommendation of “Hold” from the eight research firms that are currently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $63.33.

FLR has been the topic of a number of recent research reports. Zacks Research raised Fluor from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 11th. Weiss Ratings lowered Fluor from a “hold (c)” rating to a “sell (d)” rating in a research note on Friday, August 21st. Wall Street Zen upgraded Fluor from a “hold” rating to a “buy” rating in a report on Saturday, August 15th. UBS Group upped their price objective on shares of Fluor from $59.00 to $66.00 and gave the stock a “buy” rating in a research note on Monday, August 10th. Finally, Robert W. Baird increased their target price on shares of Fluor from $49.00 to $65.00 and gave the stock a “neutral” rating in a report on Monday, August 10th.

Fluor Stock Up 0.2%

Shares of NYSE FLR opened at $49.81 on Wednesday. Fluor has a 52-week low of $39.33 and a 52-week high of $58.35. The firm has a market capitalization of $6.66 billion, a price-to-earnings ratio of -4.06, a PEG ratio of 1.02 and a beta of 1.28. The stock has a 50 day moving average price of $52.76 and a 200 day moving average price of $50.38. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.80 and a current ratio of 1.80.

Fluor (NYSE:FLR) last released its quarterly earnings data on Friday, August 7th. The construction company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.70 by $0.21. The company had revenue of $4.33 billion for the quarter, compared to the consensus estimate of $3.92 billion. Fluor had a positive return on equity of 8.82% and a negative net margin of 12.85%. Fluor’s quarterly revenue was up 8.8% on a year-over-year basis. During the same period last year, the business posted $0.43 EPS. Sell-side analysts expect that Fluor will post 2.69 earnings per share for the current year.

Insider Activity at Fluor

In other news, insider Pierre Bechelany sold 5,000 shares of the business’s stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $55.24, for a total value of $276,200.00. Following the completion of the sale, the insider owned 36,064 shares in the company, valued at approximately $1,992,175.36. The trade was a 12.18% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 1.70% of the company’s stock.

Hedge Funds Weigh In On Fluor

Hedge funds and other institutional investors have recently modified their holdings of the business. Maverick Capital Ltd. bought a new position in Fluor in the first quarter worth approximately $66,036,000. Moore Capital Management LP boosted its position in Fluor by 220.0% during the 2nd quarter. Moore Capital Management LP now owns 520,000 shares of the construction company’s stock valued at $27,243,000 after acquiring an additional 357,521 shares in the last quarter. Troluce Capital Advisors LLC bought a new stake in Fluor during the 1st quarter valued at $18,660,000. Principal Financial Group Inc. boosted its position in Fluor by 3.7% during the 1st quarter. Principal Financial Group Inc. now owns 362,226 shares of the construction company’s stock valued at $16,898,000 after acquiring an additional 13,082 shares in the last quarter. Finally, First Trust Advisors LP increased its holdings in shares of Fluor by 34.9% in the 1st quarter. First Trust Advisors LP now owns 337,029 shares of the construction company’s stock valued at $15,722,000 after acquiring an additional 87,174 shares during the period. 88.07% of the stock is currently owned by institutional investors.

Fluor Company Profile

Fluor Corporation (NYSE: FLR) is a global engineering, procurement, construction and project-management company. It provides integrated services for complex capital projects, including design and engineering, procurement, construction, commissioning, operations and maintenance, and program management.

The company serves clients across the energy, chemicals, infrastructure, mining, advanced manufacturing, government and commercial sectors. Its work includes developing and maintaining industrial facilities, transportation and other infrastructure, government and defense projects, and energy-related assets.