Citigroup Cuts Fluor (NYSE:FLR) Price Target to $46.00

Fluor (NYSE:FLR - Free Report) had its price objective trimmed by Citigroup from $55.00 to $46.00 in a report released on Friday,Benzinga reports. The firm currently has a buy rating on the construction company's stock.

A number of other analysts also recently weighed in on FLR. UBS Group dropped their target price on Fluor from $57.00 to $49.00 and set a "buy" rating for the company in a research report on Thursday, April 24th. StockNews.com upgraded Fluor from a "hold" rating to a "buy" rating in a report on Thursday, April 17th. DA Davidson cut their price target on shares of Fluor from $65.00 to $55.00 and set a "buy" rating on the stock in a report on Wednesday, February 19th. Truist Financial cut their target price on shares of Fluor from $60.00 to $45.00 and set a "buy" rating on the stock in a research note on Tuesday, April 8th. Finally, KeyCorp dropped their price target on Fluor from $54.00 to $41.00 and set an "overweight" rating on the stock in a research report on Friday, April 4th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $45.57.

Fluor Stock Performance

Fluor stock traded down $0.44 during midday trading on Friday, reaching $34.63. The stock had a trading volume of 656,193 shares, compared to its average volume of 2,192,398. The company has a quick ratio of 1.77, a current ratio of 1.69 and a debt-to-equity ratio of 0.28. The firm has a market capitalization of $5.82 billion, a PE ratio of 2.84, a P/E/G ratio of 1.36 and a beta of 1.66. Fluor has a 12 month low of $29.20 and a 12 month high of $60.10. The firm's 50-day moving average price is $35.53 and its 200 day moving average price is $45.81.

Fluor (NYSE:FLR - Get Free Report) last released its quarterly earnings data on Tuesday, February 18th. The construction company reported $0.48 earnings per share for the quarter, missing analysts' consensus estimates of $0.78 by ($0.30). The business had revenue of $4.26 billion during the quarter, compared to analysts' expectations of $4.42 billion. Fluor had a net margin of 13.14% and a return on equity of 15.14%. As a group, research analysts predict that Fluor will post 2.5 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Fluor

A number of hedge funds have recently made changes to their positions in FLR. Versant Capital Management Inc boosted its position in shares of Fluor by 2,509.5% during the 4th quarter. Versant Capital Management Inc now owns 548 shares of the construction company's stock valued at $27,000 after acquiring an additional 527 shares during the last quarter. Sterling Capital Management LLC raised its stake in Fluor by 196.2% during the fourth quarter. Sterling Capital Management LLC now owns 616 shares of the construction company's stock valued at $30,000 after purchasing an additional 408 shares in the last quarter. Golden State Wealth Management LLC bought a new position in Fluor during the fourth quarter valued at $33,000. Smartleaf Asset Management LLC grew its stake in shares of Fluor by 43.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 955 shares of the construction company's stock worth $47,000 after buying an additional 287 shares in the last quarter. Finally, 1620 Investment Advisors Inc. bought a new stake in shares of Fluor in the 4th quarter worth about $57,000. Institutional investors 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.