Zacks Research Upgrades Fluor (NYSE:FLR) to Strong-Buy

Fluor (NYSE:FLR) was upgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued on Thursday,Zacks.com reports.

FLR has been the subject of a number of other reports. Wall Street Zen raised Fluor from a “sell” rating to a “hold” rating in a report on Saturday, January 31st. UBS Group reiterated a “buy” rating and issued a $57.00 target price on shares of Fluor in a research note on Thursday. Truist Financial raised their price target on shares of Fluor from $56.00 to $59.00 and gave the company a “buy” rating in a research report on Thursday. DA Davidson lifted their price objective on shares of Fluor from $55.00 to $60.00 and gave the company a “buy” rating in a report on Thursday. Finally, Robert W. Baird increased their target price on shares of Fluor from $45.00 to $48.00 and gave the stock a “neutral” rating in a research note on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $52.29.

Fluor Trading Up 1.6%

Shares of Fluor stock opened at $53.67 on Thursday. The stock has a market cap of $7.87 billion, a PE ratio of -68.80, a price-to-earnings-growth ratio of 1.51 and a beta of 1.37. The firm has a fifty day moving average price of $44.56 and a 200 day moving average price of $43.95. Fluor has a 1 year low of $29.20 and a 1 year high of $57.50. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.91 and a quick ratio of 1.45.

Fluor (NYSE:FLR) last announced its quarterly 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). The company had revenue of $4.18 billion for the quarter, compared to analyst estimates of $4.27 billion. Fluor had a positive return on equity of 7.96% and a negative net margin of 0.34%.Fluor’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.48 earnings per share. Equities research analysts predict that Fluor will post 2.5 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of FLR. MTM Investment Management LLC acquired a new stake in Fluor in the 2nd quarter worth about $26,000. Global Retirement Partners LLC boosted its stake in shares of Fluor by 91.7% in the fourth quarter. Global Retirement Partners LLC now owns 650 shares of the construction company’s stock worth $26,000 after acquiring an additional 311 shares during the last quarter. Assetmark Inc. increased its position in shares of Fluor by 249.0% during the fourth quarter. Assetmark Inc. now owns 677 shares of the construction company’s stock worth $27,000 after purchasing an additional 483 shares in the last quarter. Los Angeles Capital Management LLC acquired a new position in Fluor in the 4th quarter valued at $27,000. Finally, Hantz Financial Services Inc. boosted its stake in Fluor by 2,695.2% during the 2nd quarter. Hantz Financial Services Inc. now owns 587 shares of the construction company’s stock worth $30,000 after purchasing an additional 566 shares during the last quarter. Institutional investors and hedge funds 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.