Fluor (NYSE:FLR) Given New $46.00 Price Target at Citigroup

Fluor (NYSE:FLR) had its price objective trimmed by Citigroup from $55.00 to $46.00 in a report published on Friday,Benzinga reports. The brokerage currently has a buy rating on the construction company’s stock.

Several other analysts have also recently weighed in on FLR. UBS Group cut their price objective on Fluor from $57.00 to $49.00 and set a “buy” rating on the stock in a research report on Thursday. Robert W. Baird decreased their price objective on Fluor from $46.00 to $43.00 and set a “neutral” rating for the company in a report on Thursday, April 3rd. Truist Financial dropped their target price on shares of Fluor from $60.00 to $45.00 and set a “buy” rating on the stock in a report on Tuesday, April 8th. KeyCorp decreased their price target on shares of Fluor from $54.00 to $41.00 and set an “overweight” rating for the company in a research note on Friday, April 4th. Finally, StockNews.com raised shares of Fluor from a “hold” rating to a “buy” rating in a research note on Thursday, April 17th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, Fluor currently has a consensus rating of “Moderate Buy” and an average price target of $45.57.

Fluor Price Performance

FLR opened at $35.54 on Friday. 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 capitalization of $5.97 billion, a PE ratio of 2.92, a price-to-earnings-growth ratio of 1.36 and a beta of 1.66. The stock’s 50 day moving average price is $35.72 and its 200-day moving average price is $45.99. Fluor has a 52-week low of $29.20 and a 52-week high of $60.10.

Fluor (NYSE:FLR) last issued its quarterly earnings data on Tuesday, February 18th. The construction company reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.30). The company had revenue of $4.26 billion for the quarter, compared to analysts’ expectations of $4.42 billion. Fluor had a net margin of 13.14% and a return on equity of 15.14%. On average, equities research analysts predict that Fluor will post 2.5 EPS for the current year.

Institutional Investors Weigh In On Fluor

Institutional investors have recently made changes to their positions in the company. Versant Capital Management Inc lifted its position in 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 acquiring an additional 527 shares in the last quarter. Sterling Capital Management LLC boosted its position in shares of Fluor by 196.2% during the fourth quarter. Sterling Capital Management LLC now owns 616 shares of the construction company’s stock valued at $30,000 after buying an additional 408 shares during the last quarter. Golden State Wealth Management LLC bought a new stake in Fluor in the 4th quarter worth about $33,000. Smartleaf Asset Management LLC raised its position in Fluor by 43.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 955 shares of the construction company’s stock worth $47,000 after buying an additional 287 shares during the last quarter. Finally, 1620 Investment Advisors Inc. bought a new position in Fluor during the 4th quarter valued at about $57,000. Hedge funds and other institutional investors own 88.07% of the company’s stock.

Fluor Company Profile

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.