Robert W. Baird Lowers Fluor (NYSE:FLR) Price Target to $43.00

Fluor (NYSE:FLR) had its price objective cut by research analysts at Robert W. Baird from $46.00 to $43.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the construction company’s stock. Robert W. Baird’s target price indicates a potential upside of 38.60% from the stock’s previous close.

A number of other brokerages also recently commented on FLR. StockNews.com upgraded Fluor from a “hold” rating to a “buy” rating in a report on Wednesday. DA Davidson lowered their price objective on shares of Fluor from $65.00 to $55.00 and set a “buy” rating for the company in a report on Wednesday, February 19th. Citigroup cut their price objective on Fluor from $60.00 to $59.00 and set a “buy” rating on the stock in a research report on Wednesday, January 29th. Truist Financial decreased their target price on Fluor from $65.00 to $60.00 and set a “buy” rating for the company in a research report on Wednesday, February 19th. Finally, KeyCorp lifted their price target on Fluor from $59.00 to $60.00 and gave the company an “overweight” rating in a research report on Wednesday, January 8th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Fluor has an average rating of “Moderate Buy” and an average price target of $51.57.

Fluor Stock Down 8.7 %

Shares of Fluor stock opened at $31.02 on Thursday. The company’s 50 day moving average price is $40.18 and its 200-day moving average price is $47.71. Fluor has a 52-week low of $29.75 and a 52-week high of $60.10. 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 $5.21 billion, a price-to-earnings ratio of 2.55, a P/E/G ratio of 1.36 and a beta of 1.66.

Fluor (NYSE:FLR) last released 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 firm had revenue of $4.26 billion during 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%. Equities research analysts forecast that Fluor will post 2.5 EPS for the current year.

Institutional Trading of Fluor

Several hedge funds and other institutional investors have recently made changes to their positions in FLR. Versant Capital Management Inc raised its stake in Fluor by 2,509.5% during 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 during the last quarter. Sterling Capital Management LLC raised its position in shares of 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 purchasing an additional 408 shares during the last quarter. Golden State Wealth Management LLC purchased a new position in shares of Fluor in the 4th quarter worth about $33,000. Smartleaf Asset Management LLC grew its position in Fluor by 43.0% during the 4th 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 last quarter. Finally, 1620 Investment Advisors Inc. bought a new stake 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.