Fluor (NYSE:FLR) Downgraded to Strong Sell Rating by Zacks Research

Fluor (NYSE:FLR) was downgraded by investment analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a report released on Tuesday,Zacks.com reports.

Several other research analysts have also recently issued reports on the stock. Robert W. Baird increased their price objective on shares of Fluor from $48.00 to $49.00 and gave the company a “neutral” rating in a report on Monday, May 11th. Truist Financial upped their target price on Fluor from $57.00 to $64.00 and gave the stock a “buy” rating in a research report on Thursday, July 2nd. Weiss Ratings raised Fluor from a “sell (d+)” rating to a “hold (c)” rating in a research note on Monday, May 11th. Finally, Citigroup cut their price objective on Fluor from $61.00 to $56.00 and set a “buy” rating for the company in a report on Monday, May 11th. Four research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $54.50.

Fluor Price Performance

Shares of FLR opened at $49.56 on Tuesday. Fluor has a one year low of $37.62 and a one year high of $57.50. The stock’s fifty day moving average is $49.12 and its 200-day moving average is $47.25. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.78 and a current ratio of 1.78. The firm has a market capitalization of $6.92 billion, a price-to-earnings ratio of 28.82, a price-to-earnings-growth ratio of 1.54 and a beta of 1.23.

Fluor (NYSE:FLR) last posted its quarterly earnings data on Friday, May 8th. The construction company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.66 by ($0.52). The company had revenue of $3.66 billion during the quarter, compared to analyst estimates of $3.89 billion. Fluor had a return on equity of 5.90% and a net margin of 2.30%.The business’s revenue for the quarter was down 8.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.73 EPS. Equities analysts anticipate that Fluor will post 2.63 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of FLR. Hennion & Walsh Asset Management Inc. increased its stake in Fluor by 47.2% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 13,263 shares of the construction company’s stock worth $695,000 after purchasing an additional 4,251 shares in the last quarter. Gradient Investments LLC lifted its stake in Fluor by 10.0% during the second quarter. Gradient Investments LLC now owns 61,716 shares of the construction company’s stock valued at $3,233,000 after buying an additional 5,626 shares in the last quarter. CoreCap Advisors LLC boosted its holdings in shares of Fluor by 175.9% in the second quarter. CoreCap Advisors LLC now owns 1,581 shares of the construction company’s stock worth $83,000 after buying an additional 1,008 shares during the period. Empowered Funds LLC increased its position in shares of Fluor by 45.2% in the first quarter. Empowered Funds LLC now owns 138,342 shares of the construction company’s stock worth $6,454,000 after acquiring an additional 43,078 shares in the last quarter. Finally, NewEdge Advisors LLC raised its holdings in shares of Fluor by 4,528.0% during the first quarter. NewEdge Advisors LLC now owns 4,628 shares of the construction company’s stock valued at $216,000 after acquiring an additional 4,528 shares during the period. Institutional investors own 88.07% of the company’s stock.

About Fluor

Fluor Corporation (NYSE: FLR) is a global engineering and construction firm that provides integrated solutions across the energy, chemicals, mining, clean energy, infrastructure and government services markets. The company’s core offerings include engineering, procurement, fabrication, construction, maintenance and project management services, with capabilities spanning feasibility studies, detailed design and turnkey delivery. Fluor’s diversified portfolio encompasses conventional oil and gas facilities, liquefied natural gas (LNG) plants, petrochemical facilities, power generation projects, transportation infrastructure and federal government programs.

Founded in 1912 by John Simon Fluor as the Fluor Construction Company in Pomona, California, the firm has grown into an industry leader headquartered in Irving, Texas.