Barclays Raises Fluor Co. (NEW) (FLR) Price Target to $57.00

Fluor Co. (NEW) (NYSE:FLR) had its price objective increased by Barclays from $54.00 to $57.00 in a research note issued on Wednesday, MarketBeat reports. The brokerage currently has a “hold” rating on the construction company’s stock. Barclays’ price objective suggests a potential downside of 7.36% from the company’s current price.

Other research analysts also recently issued research reports about the company. TheStreet raised Fluor Co. (NEW) from a “c+” rating to a “b” rating in a research note on Thursday, December 21st. Citigroup set a $53.00 price objective on Fluor Co. (NEW) and gave the company a “buy” rating in a research note on Friday, October 27th. Credit Suisse Group lowered their price objective on Fluor Co. (NEW) from $43.00 to $41.00 and set a “neutral” rating for the company in a research note on Friday, November 3rd. MKM Partners set a $56.00 price objective on Fluor Co. (NEW) and gave the company a “hold” rating in a research note on Wednesday, January 17th. Finally, Canaccord Genuity reaffirmed a “buy” rating and issued a $54.00 price objective on shares of Fluor Co. (NEW) in a research note on Monday, November 6th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $52.15.

Fluor Co. (NYSE FLR) opened at $61.53 on Wednesday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.18 and a current ratio of 1.56. The company has a market capitalization of $8,563.17, a PE ratio of 43.03, a price-to-earnings-growth ratio of 2.92 and a beta of 1.47. Fluor Co. has a 52 week low of $37.03 and a 52 week high of $62.09.

Fluor Co. (NEW) (NYSE:FLR) last issued its earnings results on Thursday, November 2nd. The construction company reported $0.67 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.58 by $0.09. The firm had revenue of $4.94 billion during the quarter, compared to the consensus estimate of $4.73 billion. Fluor Co. (NEW) had a return on equity of 11.69% and a net margin of 1.03%. The business’s quarterly revenue was up 3.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.03 earnings per share. sell-side analysts forecast that Fluor Co. will post 1.56 EPS for the current year.

In related news, insider Jose Luis M. Bustamante sold 2,750 shares of the company’s stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $48.63, for a total value of $133,732.50. Following the sale, the insider now directly owns 38,757 shares in the company, valued at $1,884,752.91. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Bruce A. Stanski sold 2,792 shares of the company’s stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $48.48, for a total value of $135,356.16. Following the completion of the sale, the chief financial officer now owns 40,104 shares in the company, valued at $1,944,241.92. The disclosure for this sale can be found here. Insiders sold 45,932 shares of company stock valued at $2,191,092 in the last ninety days. 1.30% of the stock is currently owned by insiders.

Hedge funds have recently made changes to their positions in the stock. Balentine LLC boosted its holdings in Fluor Co. (NEW) by 99.1% in the third quarter. Balentine LLC now owns 2,799 shares of the construction company’s stock valued at $118,000 after acquiring an additional 1,393 shares during the last quarter. IFM Investors Pty Ltd bought a new stake in Fluor Co. (NEW) in the third quarter valued at approximately $226,000. Investment Counselors of Maryland LLC boosted its holdings in Fluor Co. (NEW) by 73.6% in the third quarter. Investment Counselors of Maryland LLC now owns 5,736 shares of the construction company’s stock valued at $241,000 after acquiring an additional 2,431 shares during the last quarter. Oakbrook Investments LLC bought a new stake in Fluor Co. (NEW) in the fourth quarter valued at approximately $284,000. Finally, Chicago Equity Partners LLC bought a new stake in Fluor Co. (NEW) in the third quarter valued at approximately $299,000. Institutional investors and hedge funds own 84.21% of the company’s stock.

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About Fluor Co. (NEW)

Fluor Corporation (Fluor) is a holding company. The Company operates its business in four segments: Energy, Chemicals & Mining; Industrial, Infrastructure & Power; Government, and Maintenance, Modification & Asset Integrity (MMAI). The Company, through its subsidiaries, offers professional services providing engineering, procurement, construction, fabrication and modularization, commissioning and maintenance, as well as project management services on a global basis.

Analyst Recommendations for Fluor Co. (NEW) (NYSE:FLR)

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