Fluor (NYSE:FLR) Price Target Raised to $65.00

Fluor (NYSE:FLR) had its target price increased by DA Davidson from $58.00 to $65.00 in a research report released on Tuesday morning,Benzinga reports. The firm currently has a buy rating on the construction company’s stock. DA Davidson also issued estimates for Fluor’s Q4 2024 earnings at $0.79 EPS, FY2024 earnings at $2.64 EPS and FY2025 earnings at $2.98 EPS.

Other equities analysts have also recently issued reports about the company. Citigroup upgraded Fluor from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $52.00 to $65.00 in a research report on Tuesday, October 22nd. KeyCorp lifted their target price on shares of Fluor from $57.00 to $64.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. Robert W. Baird increased their price target on shares of Fluor from $46.00 to $54.00 and gave the stock an “outperform” rating in a report on Monday, August 5th. Barclays upped their target price on shares of Fluor from $39.00 to $45.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 18th. Finally, UBS Group raised their price target on Fluor from $51.00 to $63.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $60.29.

Fluor Price Performance

Fluor stock opened at $51.93 on Tuesday. The company has a market cap of $8.91 billion, a price-to-earnings ratio of 34.62, a PEG ratio of 3.93 and a beta of 1.90. The business’s 50 day simple moving average is $50.14 and its 200 day simple moving average is $46.73. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 0.48. Fluor has a 12 month low of $35.04 and a 12 month high of $60.10.

Fluor (NYSE:FLR) last posted its quarterly earnings results on Friday, November 8th. The construction company reported $0.51 EPS for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.25). Fluor had a return on equity of 20.05% and a net margin of 1.64%. The company had revenue of $4.09 billion during the quarter, compared to the consensus estimate of $4.74 billion. During the same period in the previous year, the business earned $1.02 earnings per share. Fluor’s revenue was up 3.3% on a year-over-year basis. Sell-side analysts forecast that Fluor will post 2.62 EPS for the current year.

Insider Activity

In other Fluor news, CFO Joseph L. Brennan sold 11,619 shares of the firm’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $50.30, for a total value of $584,435.70. Following the sale, the chief financial officer now owns 41,908 shares of the company’s stock, valued at $2,107,972.40. This trade represents a 21.71 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In the last quarter, insiders sold 31,261 shares of company stock valued at $1,528,574. Insiders own 1.70% of the company’s stock.

Institutional Investors Weigh In On Fluor

Large investors have recently made changes to their positions in the business. ORG Partners LLC purchased a new stake in shares of Fluor in the 2nd quarter worth about $34,000. GAMMA Investing LLC grew its stake in Fluor by 46.4% in the second quarter. GAMMA Investing LLC now owns 899 shares of the construction company’s stock worth $39,000 after purchasing an additional 285 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in Fluor by 6,642.9% in the second quarter. Allspring Global Investments Holdings LLC now owns 944 shares of the construction company’s stock worth $41,000 after purchasing an additional 930 shares in the last quarter. Ashton Thomas Private Wealth LLC purchased a new position in Fluor during the second quarter valued at $51,000. Finally, Quest Partners LLC bought a new stake in shares of Fluor during the 2nd quarter valued at $52,000. 88.07% of the stock is currently owned by institutional investors.

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.