Fluor (NYSE:FLR) Upgraded by StockNews.com to “Buy” Rating

Fluor (NYSE:FLR) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday.

A number of other research firms also recently commented on FLR. KeyCorp upped their price objective on shares of Fluor from $59.00 to $60.00 and gave the company an “overweight” rating in a research note on Wednesday, January 8th. Barclays set a $40.00 price target on shares of Fluor and gave the stock an “equal weight” rating in a research note on Thursday, February 27th. Citigroup lowered 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. Baird R W lowered Fluor from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 18th. Finally, DA Davidson lowered their price target on Fluor from $65.00 to $55.00 and set a “buy” rating for the company in a research report on Wednesday, February 19th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, Fluor presently has a consensus rating of “Moderate Buy” and a consensus price target of $54.71.

Fluor Stock Up 3.7 %

Shares of NYSE FLR opened at $39.06 on Tuesday. The firm has a market cap of $6.56 billion, a P/E ratio of 3.20, a price-to-earnings-growth 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 has a 1 year low of $34.01 and a 1 year high of $60.10. The firm’s 50 day moving average price is $43.01 and its 200 day moving average price is $48.30.

Fluor (NYSE:FLR) last posted its quarterly earnings data on Tuesday, February 18th. The construction company reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.78 by ($0.30). The business had revenue of $4.26 billion for 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%. As a group, sell-side analysts anticipate that Fluor will post 2.5 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Versant Capital Management Inc grew its stake in shares of Fluor by 2,509.5% in the fourth quarter. Versant Capital Management Inc now owns 548 shares of the construction company’s stock valued at $27,000 after buying an additional 527 shares in the last quarter. Sterling Capital Management LLC boosted its holdings in Fluor by 196.2% in the 4th 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 period. Golden State Wealth Management LLC acquired a new stake in Fluor in the fourth quarter valued at approximately $33,000. Smartleaf Asset Management LLC raised its stake in shares of Fluor by 43.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 955 shares of the construction company’s stock valued at $47,000 after purchasing an additional 287 shares during the period. Finally, 1620 Investment Advisors Inc. acquired a new position in shares of Fluor during the fourth quarter worth $57,000. 88.07% of the stock is owned by hedge funds and other institutional investors.

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.