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

Fluor (NYSE:FLR) had its target price lowered by equities research analysts at Truist Financial from $60.00 to $45.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the construction company’s stock. Truist Financial’s price target would suggest a potential upside of 40.32% from the company’s previous close.

A number of other brokerages also recently issued reports on FLR. StockNews.com raised Fluor from a “hold” rating to a “buy” rating in a research note on Wednesday, April 2nd. Citigroup decreased their price objective on Fluor from $60.00 to $59.00 and set a “buy” rating on the stock in a research note on Wednesday, January 29th. Robert W. Baird decreased their target price on Fluor from $46.00 to $43.00 and set a “neutral” rating for the company in a research report on Thursday, April 3rd. KeyCorp lowered their price objective on Fluor from $54.00 to $41.00 and set an “overweight” rating for the company in a research note on Friday. Finally, Baird R W downgraded Fluor from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 18th. 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 presently has an average rating of “Moderate Buy” and a consensus target price of $49.43.

Fluor Price Performance

FLR traded up $0.52 during trading on Tuesday, reaching $32.07. 398,899 shares of the company traded hands, compared to its average volume of 2,105,037. 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 12-month low of $29.20 and a 12-month high of $60.10. The firm has a fifty day simple moving average of $39.88 and a 200 day simple moving average of $47.62. The company has a market cap of $5.39 billion, a P/E ratio of 2.64, a PEG ratio of 1.36 and a beta of 1.66.

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

Hedge Funds Weigh In On Fluor

Hedge funds and other institutional investors have recently bought and sold shares of the company. Captrust Financial Advisors boosted its position in Fluor by 1.8% in the third quarter. Captrust Financial Advisors now owns 18,666 shares of the construction company’s stock worth $891,000 after purchasing an additional 329 shares during the last quarter. Centiva Capital LP bought a new position in shares of Fluor during the 3rd quarter valued at $426,000. HighTower Advisors LLC raised its stake in Fluor by 4.1% during the 3rd quarter. HighTower Advisors LLC now owns 33,922 shares of the construction company’s stock worth $1,618,000 after acquiring an additional 1,324 shares during the period. Quarry LP boosted its stake in Fluor by 244.7% in the 3rd quarter. Quarry LP now owns 1,327 shares of the construction company’s stock worth $63,000 after purchasing an additional 942 shares during the period. Finally, Quantinno Capital Management LP bought a new position in Fluor during the third quarter valued at approximately $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.