Fluor (NYSE:FLR) Sets New 1-Year High - What's Next?

Key Points

• Fluor shares reached a new 52-week high, trading near $58 and rising 2.2%. The stock remains above its 50-day and 200-day moving averages.
• Analyst views are mixed, with four Buy, three Hold and one Sell rating; the consensus is Hold with a $63.33 price target. Citigroup raised its target to $68, while Barclays lifted its target to $50 but maintained an Equal Weight rating.
• Fluor reported stronger-than-expected quarterly results, posting $0.91 in EPS versus the $0.70 estimate and $4.33 billion in revenue, up 8.8% year over year. However, the company still recorded a negative net margin of 12.85%.

Shares of Fluor Corporation (NYSE:FLR - Get Free Report) hit a new 52-week high on Thursday . The company traded as high as $57.99 and last traded at $58.1770, with a volume of 859289 shares traded. The stock had previously closed at $56.60.

Analyst Ratings Changes

A number of analysts recently commented on FLR shares. Weiss Ratings lowered Fluor from a "hold (c)" rating to a "sell (d)" rating in a research note on Friday, August 21st. Wall Street Zen raised shares of Fluor from a "hold" rating to a "buy" rating in a research report on Saturday, August 15th. Zacks Research raised shares of Fluor from a "strong sell" rating to a "hold" rating in a research report on Tuesday, August 11th. Citigroup boosted their price target on shares of Fluor from $56.00 to $68.00 and gave the company a "buy" rating in a research report on Monday, August 10th. Finally, Barclays increased their price target on shares of Fluor from $40.00 to $50.00 and gave the stock an "equal weight" rating in a research note on Monday, August 10th. Four investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $63.33.

Fluor Trading Up 2.2%

The stock's fifty day moving average price is $51.72 and its 200 day moving average price is $49.43. The stock has a market cap of $7.73 billion, a P/E ratio of -4.71, a PEG ratio of 1.77 and a beta of 1.26. The company has a current ratio of 1.80, a quick ratio of 1.80 and a debt-to-equity ratio of 0.38.

Fluor (NYSE:FLR - Get Free Report) last issued its quarterly earnings results on Friday, August 7th. The construction company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.21. Fluor had a negative net margin of 12.85% and a positive return on equity of 8.82%. The company had revenue of $4.33 billion during the quarter, compared to analyst estimates of $3.92 billion. During the same period last year, the business earned $0.43 EPS. Fluor's quarterly revenue was up 8.8% compared to the same quarter last year. Equities research analysts expect that Fluor Corporation will post 2.66 earnings per share for the current year.

Insider Activity

In other news, insider Pierre Edward Bechelany sold 5,000 shares of the business's stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $55.24, for a total value of $276,200.00. Following the sale, the insider directly owned 36,064 shares of the company's stock, valued at $1,992,175.36. The trade was a 12.18% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 1.70% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Global Retirement Partners LLC purchased a new stake in shares of Fluor in the second quarter worth $25,000. Los Angeles Capital Management LLC bought a new position in Fluor in the 4th quarter worth about $27,000. Ancora Advisors LLC purchased a new stake in Fluor during the 2nd quarter valued at about $31,000. Larson Financial Group LLC grew its position in Fluor by 6,116.7% during the 3rd quarter. Larson Financial Group LLC now owns 746 shares of the construction company's stock valued at $31,000 after purchasing an additional 734 shares during the last quarter. Finally, Banque Cantonale Vaudoise bought a new stake in Fluor during the 4th quarter valued at about $35,000. Hedge funds and other institutional investors own 88.07% of the company's stock.

Fluor Company Profile

Fluor Corporation NYSE: FLR is a global engineering and construction firm that provides integrated solutions across the energy, chemicals, mining, clean energy, infrastructure and government services markets. The company's core offerings include engineering, procurement, fabrication, construction, maintenance and project management services, with capabilities spanning feasibility studies, detailed design and turnkey delivery. Fluor's diversified portfolio encompasses conventional oil and gas facilities, liquefied natural gas (LNG) plants, petrochemical facilities, power generation projects, transportation infrastructure and federal government programs.

Founded in 1912 by John Simon Fluor as the Fluor Construction Company in Pomona, California, the firm has grown into an industry leader headquartered in Irving, Texas.

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