Fluor (NYSE:FLR) Given New $64.00 Price Target at Truist Financial

Fluor (NYSE:FLR) had its target price hoisted by research analysts at Truist Financial from $57.00 to $64.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has a “buy” rating on the construction company’s stock. Truist Financial’s price objective indicates a potential upside of 26.91% from the company’s current price.

A number of other equities analysts have also issued reports on FLR. Robert W. Baird upped their target price 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 shares of Fluor from a “sell (d+)” rating to a “hold (c)” rating in a research report on Monday, May 11th. Citigroup decreased their price objective 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, Zacks Research cut Fluor from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 20th. Four research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, Fluor currently has a consensus rating of “Moderate Buy” and a consensus target price of $54.50.

Fluor Stock Performance

Fluor stock opened at $50.43 on Thursday. The stock has a 50-day simple moving average of $49.00 and a 200 day simple moving average of $46.99. The stock 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. The company has a quick ratio of 1.78, a current ratio of 1.78 and a debt-to-equity ratio of 0.36. Fluor has a 12-month low of $37.62 and a 12-month high of $57.50.

Fluor (NYSE:FLR) last issued its quarterly earnings data on Friday, May 8th. The construction company reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.52). The company had revenue of $3.66 billion for 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%.The firm’s revenue was down 8.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.73 EPS. On average, research analysts anticipate that Fluor will post 2.64 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Fluor

Institutional investors and hedge funds have recently modified their holdings of the business. Global Retirement Partners LLC lifted its holdings in Fluor by 91.7% in the fourth quarter. Global Retirement Partners LLC now owns 650 shares of the construction company’s stock valued at $26,000 after buying an additional 311 shares during the period. Assetmark Inc. lifted its stake in shares of Fluor by 249.0% in the 4th quarter. Assetmark Inc. now owns 677 shares of the construction company’s stock valued at $27,000 after purchasing an additional 483 shares during the period. Los Angeles Capital Management LLC bought a new position in shares of Fluor in the 4th quarter worth $27,000. Larson Financial Group LLC grew its stake in shares of Fluor by 6,116.7% during the third quarter. Larson Financial Group LLC now owns 746 shares of the construction company’s stock worth $31,000 after purchasing an additional 734 shares during the period. Finally, Banque Cantonale Vaudoise bought a new stake in Fluor in the fourth quarter valued at about $35,000. 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.