Fluor (NYSE:FLR) Given New $56.00 Price Target at Robert W. Baird

Fluor (NYSE:FLR) had its price target dropped by equities research analysts at Robert W. Baird from $64.00 to $56.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm currently has a “neutral” rating on the construction company’s stock. Robert W. Baird‘s price target points to a potential upside of 20.96% from the stock’s current price.

FLR has been the subject of a number of other reports. Truist Financial restated a “buy” rating and issued a $71.00 price target (up from $64.00) on shares of Fluor in a research report on Monday, August 10th. Barclays increased their target price on shares of Fluor from $40.00 to $50.00 and gave the company an “equal weight” rating in a research note on Monday, August 10th. Zacks Research upgraded shares of Fluor from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 11th. Weiss Ratings downgraded shares of Fluor from a “hold (c)” rating to a “sell (d)” rating in a report on Friday, August 21st. Finally, Wall Street Zen cut shares of Fluor from a “buy” rating to a “hold” rating in a report on Saturday. Four analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $61.83.

Fluor Stock Down 0.4%

Shares of NYSE:FLR opened at $46.30 on Monday. The company has a market cap of $6.19 billion, a price-to-earnings ratio of -6.79, a PEG ratio of 0.96 and a beta of 1.22. Fluor has a 12 month low of $39.33 and a 12 month high of $58.35. The company has a current ratio of 1.83, a quick ratio of 1.80 and a debt-to-equity ratio of 0.39. The company has a 50-day moving average price of $50.43 and a 200 day moving average price of $49.34.

Fluor (NYSE:FLR) last issued its quarterly earnings data on Friday, November 6th. The construction company reported $0.77 earnings per share for the quarter, missing the consensus estimate of $0.80 by ($0.03). The company had revenue of $2 billion for the quarter, compared to the consensus estimate of $4.16 billion. Fluor had a positive return on equity of 10.52% and a negative net margin of 7.19%. The company’s revenue was up 10.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.68 earnings per share. As a group, equities research analysts predict that Fluor will post 2.69 earnings per share for the current year.

Institutional Investors Weigh In On Fluor

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FLR. Maverick Capital Ltd. purchased a new position in Fluor in the first quarter valued at $66,036,000. Fisher Asset Management LLC boosted its stake in shares of Fluor by 209.9% during the 3rd quarter. Fisher Asset Management LLC now owns 1,728,795 shares of the construction company’s stock worth $82,775,000 after acquiring an additional 1,170,945 shares in the last quarter. Troluce Capital Advisors LLC purchased a new stake in shares of Fluor during the 1st quarter worth about $18,660,000. Moore Capital Management LP grew its position in shares of 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 during the period. Finally, Russell Investments Group Ltd. grew its position in shares of Fluor by 59.8% during the 3rd quarter. Russell Investments Group Ltd. now owns 751,259 shares of the construction company’s stock valued at $35,978,000 after acquiring an additional 281,049 shares during the period. 88.07% of the stock is currently owned by hedge funds and other institutional investors.

About Fluor

Fluor Corporation is a global engineering and construction company that provides engineering, procurement, construction, maintenance and project-management services. It works with clients to plan and deliver complex projects, and also provides services for facility operations, upgrades and decommissioning.

The company serves customers in sectors including energy, chemicals, mining and metals, infrastructure, advanced technologies and life sciences. Through its government-focused work, Fluor also supports federal agencies and government programs, including projects involving environmental remediation and national security.

Founded in 1912, Fluor is headquartered in Irving, Texas, and undertakes projects in the United States and internationally.