Citigroup Upgrades Fluor (NYSE:FLR) to Buy

Fluor (NYSE:FLR) was upgraded by stock analysts at Citigroup from a “neutral” rating to a “buy” rating in a research report issued to clients and investors on Tuesday, MarketBeat Ratings reports. The firm currently has a $65.00 target price on the construction company’s stock, up from their previous target price of $52.00. Citigroup’s price objective indicates a potential upside of 23.13% from the company’s previous close.

Several other analysts have also recently issued reports on FLR. KeyCorp raised shares of Fluor from a “sector weight” rating to an “overweight” rating and set a $57.00 price target on the stock in a report on Wednesday, July 17th. DA Davidson increased their price target on shares of Fluor from $50.00 to $58.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Barclays boosted their price objective on Fluor from $39.00 to $45.00 and gave the company an “equal weight” rating in a report on Thursday, July 18th. UBS Group lifted their target price on Fluor from $49.00 to $51.00 and gave the stock a “buy” rating in a research report on Tuesday, August 6th. Finally, Robert W. Baird upped their price target on Fluor from $46.00 to $54.00 and gave the company an “outperform” rating in a research report on Monday, August 5th. One analyst has rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, Fluor currently has an average rating of “Moderate Buy” and a consensus target price of $58.29.

Fluor Price Performance

FLR opened at $52.79 on Tuesday. Fluor has a twelve month low of $32.31 and a twelve month high of $55.86. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 0.51. The firm has a market cap of $9.04 billion, a price-to-earnings ratio of 30.69, a PEG ratio of 2.18 and a beta of 1.91. The company has a fifty day simple moving average of $48.61 and a 200 day simple moving average of $45.28.

Fluor (NYSE:FLR) last announced its earnings results on Friday, August 2nd. The construction company reported $0.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.17. Fluor had a return on equity of 25.02% and a net margin of 2.62%. The business had revenue of $4.23 billion for the quarter, compared to analyst estimates of $4.34 billion. During the same period in the previous year, the company earned $0.76 earnings per share. The company’s revenue for the quarter was up 7.3% compared to the same quarter last year. Equities research analysts expect that Fluor will post 2.88 EPS for the current fiscal year.

Insider Buying and Selling

In other Fluor news, CAO John C. Regan sold 13,000 shares of the firm’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $48.31, for a total value of $628,030.00. Following the sale, the chief accounting officer now directly owns 55,965 shares in the company, valued at approximately $2,703,669.15. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CAO John C. Regan sold 13,000 shares of Fluor stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $48.31, for a total transaction of $628,030.00. Following the sale, the chief accounting officer now owns 55,965 shares of the company’s stock, valued at approximately $2,703,669.15. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Joseph L. Brennan sold 11,619 shares of the stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $50.30, for a total value of $584,435.70. Following the completion of the transaction, the chief financial officer now directly owns 41,908 shares of the company’s stock, valued at $2,107,972.40. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 44,261 shares of company stock worth $2,156,604 in the last three months. 1.70% of the stock is owned by insiders.

Institutional Investors Weigh In On Fluor

Institutional investors have recently bought and sold shares of the stock. ORG Partners LLC acquired a new stake in shares of Fluor in the 2nd quarter worth approximately $34,000. GAMMA Investing LLC lifted its position 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 boosted its stake in Fluor by 6,642.9% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 944 shares of the construction company’s stock valued at $41,000 after purchasing an additional 930 shares in the last quarter. Ashton Thomas Private Wealth LLC acquired a new position in shares of Fluor during the 2nd quarter valued at $51,000. Finally, Quest Partners LLC acquired a new stake in shares of Fluor in the second quarter valued at $52,000. Institutional investors and hedge funds own 88.07% of the company’s stock.

Fluor Company Profile

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.