Robert W. Baird Forecasts Strong Price Appreciation for Fluor (NYSE:FLR) Stock

Fluor (NYSE:FLRGet Free Report) had its price objective raised by equities research analysts at Robert W. Baird from $45.00 to $48.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has a “neutral” rating on the construction company’s stock. Robert W. Baird’s price objective would suggest a potential downside of 1.01% from the stock’s previous close.

Other equities analysts also recently issued reports about the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Fluor in a research note on Monday, December 29th. UBS Group decreased their price objective on shares of Fluor from $56.00 to $52.00 and set a “buy” rating on the stock in a research report on Thursday, November 13th. Truist Financial raised their target price on shares of Fluor from $51.00 to $56.00 and gave the company a “buy” rating in a report on Monday, November 10th. Wall Street Zen upgraded shares of Fluor from a “sell” rating to a “hold” rating in a research report on Saturday, January 31st. Finally, DA Davidson increased their price target on shares of Fluor from $50.00 to $55.00 and gave the company a “buy” rating in a research report on Monday, November 10th. Four research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $49.86.

View Our Latest Research Report on FLR

Fluor Stock Performance

Shares of FLR opened at $48.49 on Wednesday. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.20. Fluor has a 52-week low of $29.20 and a 52-week high of $57.50. The company has a 50-day simple moving average of $44.06 and a 200-day simple moving average of $43.75. The company has a market capitalization of $7.82 billion, a PE ratio of 2.47, a P/E/G ratio of 6.62 and a beta of 1.37.

Fluor (NYSE:FLRGet Free Report) last issued its earnings results on Tuesday, February 17th. The construction company reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.34 by ($0.01). Fluor had a return on equity of 8.32% and a net margin of 21.71%.The company had revenue of $4.18 billion for the quarter, compared to analyst estimates of $4.27 billion. During the same quarter in the previous year, the company posted $0.48 earnings per share. The company’s quarterly revenue was down 2.0% compared to the same quarter last year. Equities research analysts predict that Fluor will post 2.5 earnings per share for the current fiscal year.

Institutional Trading of Fluor

Several hedge funds and other institutional investors have recently bought and sold shares of the company. DLD Asset Management LP acquired a new position in Fluor in the 2nd quarter valued at $1,025,400,000. Rubric Capital Management LP acquired a new position in Fluor in the second quarter valued at $205,080,000. AQR Capital Management LLC lifted its position in Fluor by 163.1% during the fourth quarter. AQR Capital Management LLC now owns 5,167,676 shares of the construction company’s stock worth $204,795,000 after buying an additional 3,203,712 shares during the period. Sourcerock Group LLC acquired a new stake in Fluor in the 2nd quarter worth about $85,327,000. Finally, Ameriprise Financial Inc. grew its holdings in Fluor by 361.6% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,507,442 shares of the construction company’s stock valued at $77,289,000 after buying an additional 1,180,838 shares during the period. 88.07% of the stock is owned by hedge funds and other institutional investors.

Key Fluor News

Here are the key news stories impacting Fluor this week:

Fluor Company Profile

(Get Free Report)

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.

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