Truist Financial Cuts Fluor (NYSE:FLR) Price Target to $45.00

Fluor (NYSE:FLR - Get Free Report) had its price objective decreased by equities researchers at Truist Financial from $60.00 to $45.00 in a report released on Tuesday,Benzinga reports. The firm presently has a "buy" rating on the construction company's stock. Truist Financial's price target suggests a potential upside of 35.09% from the stock's previous close.

FLR has been the topic of several other reports. Baird R W downgraded Fluor from a "strong-buy" rating to a "hold" rating in a report on Wednesday, December 18th. Citigroup reduced their target price on Fluor from $60.00 to $59.00 and set a "buy" rating on the stock in a report on Wednesday, January 29th. Barclays set a $40.00 price target on shares of Fluor and gave the stock an "equal weight" rating in a report on Thursday, February 27th. Robert W. Baird reduced their price objective on shares of Fluor from $46.00 to $43.00 and set a "neutral" rating on the stock in a research note on Thursday, April 3rd. Finally, DA Davidson lowered their target price on shares of Fluor from $65.00 to $55.00 and set a "buy" rating for the company in a research note on Wednesday, February 19th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $49.43.

Fluor Trading Up 0.7 %

Shares of FLR stock traded up $0.24 during mid-day trading on Tuesday, reaching $33.31. 3,873,780 shares of the stock traded hands, compared to its average volume of 2,143,385. The company has a market cap of $5.60 billion, a price-to-earnings ratio of 2.73, a price-to-earnings-growth ratio of 1.36 and a beta of 1.66. The company has a quick ratio of 1.77, a current ratio of 1.69 and a debt-to-equity ratio of 0.28. The stock's fifty day simple moving average is $38.11 and its two-hundred day simple moving average is $47.04. Fluor has a 1-year low of $29.20 and a 1-year high of $60.10.

Fluor (NYSE:FLR - Get Free Report) last posted its 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 business had revenue of $4.26 billion for the quarter, compared to the consensus estimate of $4.42 billion. Fluor had a return on equity of 15.14% and a net margin of 13.14%. On average, research analysts anticipate that Fluor will post 2.5 EPS for the current fiscal year.

Hedge Funds Weigh In On Fluor

Hedge funds have recently added to or reduced their stakes in the stock. Captrust Financial Advisors boosted its position in shares of Fluor by 1.8% during the third quarter. Captrust Financial Advisors now owns 18,666 shares of the construction company's stock valued at $891,000 after buying an additional 329 shares during the last quarter. Centiva Capital LP bought a new stake in shares of Fluor in the 3rd quarter worth $426,000. HighTower Advisors LLC raised its holdings in shares of Fluor by 4.1% in the third quarter. HighTower Advisors LLC now owns 33,922 shares of the construction company's stock valued at $1,618,000 after purchasing an additional 1,324 shares during the last quarter. Quarry LP lifted its position in shares of Fluor by 244.7% during the third quarter. Quarry LP now owns 1,327 shares of the construction company's stock valued at $63,000 after purchasing an additional 942 shares in the last quarter. Finally, Quantinno Capital Management LP purchased a new position in Fluor during the third quarter worth about $221,000. 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.