Credit Suisse Group Increases Fluor (NYSE:FLR) Price Target to $29.00

Fluor (NYSE:FLRGet Rating) had its target price upped by research analysts at Credit Suisse Group to $29.00 in a research report issued on Friday, Stock Target Advisor reports. The firm currently has a “neutral” rating on the construction company’s stock. Credit Suisse Group’s price objective points to a potential upside of 8.17% from the stock’s current price.

A number of other equities research analysts have also weighed in on FLR. Zacks Investment Research raised shares of Fluor from a “strong sell” rating to a “hold” rating and set a $29.00 target price on the stock in a research note on Tuesday. StockNews.com started coverage on Fluor in a research report on Thursday, March 31st. They set a “hold” rating on the stock. Robert W. Baird raised Fluor from a “neutral” rating to an “outperform” rating and decreased their target price for the stock from $30.00 to $29.00 in a research report on Wednesday, February 23rd. Finally, Citigroup lifted their price target on Fluor from $29.00 to $31.00 in a research report on Monday, May 9th. Six investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, Fluor has an average rating of “Hold” and a consensus target price of $27.33.

NYSE FLR opened at $26.81 on Friday. Fluor has a 1 year low of $14.41 and a 1 year high of $31.32. The stock has a market capitalization of $3.81 billion, a PE ratio of -33.94, a PEG ratio of 0.54 and a beta of 2.76. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.43 and a quick ratio of 1.43. The business’s 50-day moving average is $27.87 and its 200 day moving average is $24.58.

Fluor (NYSE:FLRGet Rating) last posted its earnings results on Friday, May 6th. The construction company reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.04). Fluor had a negative net margin of 0.63% and a positive return on equity of 10.72%. The business had revenue of $3.12 billion for the quarter, compared to analysts’ expectations of $3.10 billion. During the same period last year, the firm posted $0.07 earnings per share. Fluor’s quarterly revenue was down 6.7% on a year-over-year basis. As a group, equities research analysts anticipate that Fluor will post 1.29 earnings per share for the current year.

In related news, Director Matthew K. Rose acquired 40,000 shares of the stock in a transaction that occurred on Thursday, May 12th. The shares were bought at an average price of $25.63 per share, for a total transaction of $1,025,200.00. Following the completion of the transaction, the director now directly owns 80,764 shares in the company, valued at $2,069,981.32. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director James T. Hackett bought 30,000 shares of the firm’s stock in a transaction on Tuesday, May 10th. The shares were bought at an average price of $25.46 per share, with a total value of $763,800.00. Following the completion of the purchase, the director now owns 10,000 shares in the company, valued at approximately $254,600. The disclosure for this purchase can be found here. 1.01% of the stock is owned by company insiders.

Institutional investors have recently bought and sold shares of the stock. UMB Bank N A MO bought a new stake in shares of Fluor during the 4th quarter valued at about $41,000. FNY Investment Advisers LLC bought a new stake in Fluor during the first quarter valued at approximately $47,000. Vectors Research Management LLC purchased a new stake in Fluor during the fourth quarter valued at approximately $50,000. Barrow Hanley Mewhinney & Strauss LLC raised its position in Fluor by 113.2% in the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,288 shares of the construction company’s stock worth $57,000 after acquiring an additional 1,215 shares during the period. Finally, Macquarie Group Ltd. grew its position in shares of Fluor by 43.7% during the 3rd quarter. Macquarie Group Ltd. now owns 6,590 shares of the construction company’s stock valued at $105,000 after acquiring an additional 2,003 shares during the period. Institutional investors own 90.35% of the company’s stock.

Fluor Company Profile (Get Rating)

Fluor Corporation provides engineering, procurement, and construction (EPC); fabrication and modularization; operation and maintenance; asset integrity; and project management services worldwide. It operates through four segments: Energy Solutions, Urban Solutions, Mission Solutions, and Other. The Energy Solutions 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.

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