Fluor Corporation (NYSE:FLR) Stock Has Average Target Price of $63.33 According to Analysts

Shares of Fluor Corporation (NYSE:FLR) have been given an average rating of “Hold” by the eight research firms that are covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $63.33.

FLR has been the subject of several research analyst reports. Citigroup reissued a “buy” rating on shares of Fluor in a report on Friday, October 23rd. Wall Street Zen raised Fluor from a “hold” rating to a “buy” rating in a research note on Saturday, August 15th. Weiss Ratings downgraded Fluor from a “hold (c)” rating to a “sell (d)” rating in a research note on Friday, August 21st. Zacks Research upgraded Fluor from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 11th. Finally, Robert W. Baird boosted their target price on Fluor from $49.00 to $65.00 and gave the company a “neutral” rating in a research note on Monday, August 10th.

Insider Activity at Fluor

In other news, insider Pierre Bechelany sold 5,000 shares of Fluor stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $55.24, for a total transaction of $276,200.00. Following the transaction, the insider owned 36,064 shares in the company, valued at $1,992,175.36. The trade was a 12.18% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.70% of the stock is currently owned by corporate insiders.

Institutional Trading of Fluor

Hedge funds have recently bought and sold shares of the stock. Maverick Capital Ltd. acquired a new position in Fluor during the 1st quarter worth approximately $66,036,000. Troluce Capital Advisors LLC bought a new position in shares of Fluor during the 1st quarter worth approximately $18,660,000. Moore Capital Management LP grew its stake in shares of Fluor by 220.0% during the 2nd quarter. Moore Capital Management LP now owns 520,000 shares of the construction company’s stock worth $27,243,000 after acquiring an additional 357,521 shares in the last quarter. Old West Investment Management LLC acquired a new stake in shares of Fluor in the second quarter valued at approximately $13,348,000. Finally, Renaissance Technologies LLC acquired a new stake in shares of Fluor in the first quarter valued at approximately $8,859,000. 88.07% of the stock is currently owned by institutional investors and hedge funds.

Fluor Stock Up 3.5%

Fluor stock opened at $48.01 on Friday. The firm has a market capitalization of $6.42 billion, a price-to-earnings ratio of -3.91, a PEG ratio of 0.95 and a beta of 1.22. The company’s 50 day simple moving average is $50.80 and its 200 day simple moving average is $49.29. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.80 and a quick ratio of 1.80. Fluor has a fifty-two week low of $39.33 and a fifty-two week high of $58.35.

Fluor (NYSE:FLR) last issued its earnings results on Friday, August 7th. The construction company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.70 by $0.21. The firm had revenue of $4.33 billion during the quarter, compared to the consensus estimate of $3.92 billion. Fluor had a negative net margin of 12.85% and a positive return on equity of 8.82%. The business’s quarterly revenue was up 8.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.43 earnings per share. As a group, sell-side analysts anticipate that Fluor will post 2.69 EPS for the current year.

About Fluor

Fluor Corporation is a global engineering, procurement, construction and project-management company serving government and commercial clients. The company provides design and construction services, project development, procurement, maintenance, operations support and consulting for complex infrastructure and industrial projects.

Fluor’s activities span energy, chemicals and advanced technologies, infrastructure, mining and metals, life sciences, and government and national-security programs.