Fluor (NYSE:FLR) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of Fluor (NYSE:FLR - Free Report) from a hold rating to a buy rating in a research report sent to investors on Wednesday morning.

Other analysts have also recently issued research reports about the stock. Citigroup reduced their price objective on shares of Fluor from $60.00 to $59.00 and set a "buy" rating for the company in a research note on Wednesday, January 29th. Barclays set a $40.00 price target on Fluor and gave the stock an "equal weight" rating in a research note on Thursday, February 27th. Truist Financial dropped their price objective on Fluor from $65.00 to $60.00 and set a "buy" rating for the company in a research note on Wednesday, February 19th. DA Davidson decreased their target price on Fluor from $65.00 to $55.00 and set a "buy" rating on the stock in a research report on Wednesday, February 19th. Finally, KeyCorp upped their target price on Fluor from $59.00 to $60.00 and gave the company an "overweight" rating in a report on Wednesday, January 8th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $54.29.

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Fluor Stock Performance

NYSE:FLR traded down $3.26 during mid-day trading on Wednesday, reaching $33.96. The stock had a trading volume of 2,804,801 shares, compared to its average volume of 2,085,606. Fluor has a twelve month low of $33.53 and a twelve month high of $60.10. The business has a 50 day simple moving average of $41.08 and a 200 day simple moving average of $47.91. The firm has a market capitalization of $5.71 billion, a price-to-earnings ratio of 2.79, a PEG ratio of 1.36 and a beta of 1.73. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.77 and a current ratio of 1.69.

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

Institutional Trading of Fluor

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Versant Capital Management Inc boosted its stake in shares of Fluor by 2,509.5% during the 4th quarter. Versant Capital Management Inc now owns 548 shares of the construction company's stock worth $27,000 after purchasing an additional 527 shares during the last quarter. Sterling Capital Management LLC boosted its position in Fluor by 196.2% during the fourth quarter. Sterling Capital Management LLC now owns 616 shares of the construction company's stock worth $30,000 after acquiring an additional 408 shares during the last quarter. Golden State Wealth Management LLC purchased a new stake in Fluor in the 4th quarter worth approximately $33,000. Smartleaf Asset Management LLC raised its holdings in 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 during the last quarter. Finally, 1620 Investment Advisors Inc. purchased a new position in shares of Fluor during the 4th quarter worth $57,000. Hedge funds and other institutional investors 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.