Fluor (NYSE:FLR) Price Target Cut to $46.00 by Analysts at Citigroup

Fluor (NYSE:FLR - Free Report) had its target price lowered by Citigroup from $55.00 to $46.00 in a research note issued to investors on Friday morning,Benzinga reports. Citigroup currently has a buy rating on the construction company's stock.

Several other analysts also recently issued reports on FLR. UBS Group lowered their price target on Fluor from $57.00 to $49.00 and set a "buy" rating for the company in a report on Thursday. Robert W. Baird dropped their price target on Fluor from $46.00 to $43.00 and set a "neutral" rating on the stock in a research report on Thursday, April 3rd. KeyCorp dropped their target price on Fluor from $54.00 to $41.00 and set an "overweight" rating on the stock in a research report on Friday, April 4th. Truist Financial dropped their target price on Fluor from $60.00 to $45.00 and set a "buy" rating on the stock in a research report on Tuesday, April 8th. Finally, Barclays set a $40.00 price target on Fluor and gave the company an "equal weight" rating in a report on Thursday, February 27th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $45.57.

Fluor Stock Performance

Fluor stock traded down $0.06 during midday trading on Friday, hitting $35.54. 2,320,986 shares of the company's stock were exchanged, compared to its average volume of 2,194,533. Fluor has a 12-month low of $29.20 and a 12-month high of $60.10. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.77 and a current ratio of 1.69. The stock has a market cap of $5.97 billion, a price-to-earnings ratio of 2.92, a price-to-earnings-growth ratio of 1.36 and a beta of 1.66. The firm's 50 day simple moving average is $35.72 and its 200 day simple moving average is $45.99.

Fluor (NYSE:FLR - Get Free Report) last released its quarterly earnings results on Tuesday, February 18th. The construction company reported $0.48 earnings per share for the quarter, missing analysts' consensus estimates of $0.78 by ($0.30). The firm had revenue of $4.26 billion during the quarter, compared to analyst estimates of $4.42 billion. Fluor had a return on equity of 15.14% and a net margin of 13.14%. Equities research analysts predict that Fluor will post 2.5 EPS for the current year.

Institutional Investors Weigh In On Fluor

A number of hedge funds have recently made changes to their positions in the company. Versant Capital Management Inc lifted its stake in shares of Fluor by 2,509.5% in the 4th quarter. Versant Capital Management Inc now owns 548 shares of the construction company's stock valued at $27,000 after purchasing an additional 527 shares during the period. Sterling Capital Management LLC increased its holdings in Fluor by 196.2% during the 4th quarter. Sterling Capital Management LLC now owns 616 shares of the construction company's stock worth $30,000 after purchasing an additional 408 shares in the last quarter. Golden State Wealth Management LLC bought a new position in Fluor during the 4th quarter worth about $33,000. Smartleaf Asset Management LLC grew its holdings in shares of Fluor by 43.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 955 shares of the construction company's stock valued at $47,000 after acquiring an additional 287 shares in the last quarter. Finally, 1620 Investment Advisors Inc. bought a new position in shares of Fluor in the 4th quarter valued at about $57,000. Institutional investors and hedge funds own 88.07% of the company's stock.

About Fluor

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.