Robert W. Baird Issues Positive Forecast for Fluor (NYSE:FLR) Stock Price

Key Points

• Robert W. Baird raised its price target on Fluor from $48 to $49 while maintaining a neutral rating, implying about 13% upside from the current share price.
• Other analysts remain mixed on the stock: Citigroup and UBS are positive, while some firms have downgraded Fluor, leaving the consensus rating at Hold with an average target price of $54.50.
• Fluor recently reported a weak quarterly earnings miss, posting $0.14 EPS versus expectations of $0.66 and revenue of $3.66 billion versus the $3.89 billion estimate, though analysts still expect $2.75 EPS for the full year.

Fluor (NYSE:FLR - Get Free Report) had its target price lifted by Robert W. Baird from $48.00 to $49.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has a "neutral" rating on the construction company's stock. Robert W. Baird's price target would suggest a potential upside of 13.21% from the company's current price.

Several other brokerages have also commented on FLR. Citigroup raised their price target on Fluor from $57.00 to $61.00 and gave the company a "buy" rating in a research note on Friday, February 20th. Wall Street Zen upgraded Fluor from a "sell" rating to a "hold" rating in a research note on Saturday, January 31st. UBS Group reaffirmed a "buy" rating and set a $57.00 price objective on shares of Fluor in a research report on Thursday, February 19th. Zacks Research downgraded Fluor from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 20th. Finally, Weiss Ratings downgraded Fluor from a "hold (c)" rating to a "sell (d+)" rating in a research report on Tuesday, February 17th. Four research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Fluor has a consensus rating of "Hold" and an average target price of $54.50.

Fluor Stock Performance

NYSE:FLR opened at $43.28 on Monday. The stock's fifty day moving average is $48.04 and its 200 day moving average is $45.96. Fluor has a fifty-two week low of $35.14 and a fifty-two week high of $57.50. The firm has a market capitalization of $6.19 billion, a PE ratio of 25.16, a PEG ratio of 1.08 and a beta of 1.33. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.91 and a current ratio of 1.78.

Fluor (NYSE:FLR - Get Free Report) last released its earnings results on Friday, May 8th. The construction company reported $0.14 earnings per share for the quarter, missing analysts' consensus estimates of $0.66 by ($0.52). Fluor had a return on equity of 5.90% and a net margin of 2.30%.The business had revenue of $3.66 billion during the quarter, compared to analysts' expectations of $3.89 billion. During the same quarter in the previous year, the business earned $0.73 EPS. The business's revenue for the quarter was down 8.0% on a year-over-year basis. On average, sell-side analysts anticipate that Fluor will post 2.75 earnings per share for the current year.

Insider Activity at Fluor

In related news, insider Kevin B. Hammonds sold 2,988 shares of Fluor stock in a transaction that occurred on Friday, February 20th. The stock was sold at an average price of $52.61, for a total transaction of $157,198.68. Following the completion of the transaction, the insider directly owned 16,273 shares in the company, valued at approximately $856,122.53. This trade represents a 15.51% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Anthony Morgan sold 3,387 shares of Fluor stock in a transaction that occurred on Monday, February 23rd. The shares were sold at an average price of $53.09, for a total value of $179,815.83. Following the transaction, the insider owned 45,999 shares of the company's stock, valued at approximately $2,442,086.91. This represents a 6.86% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 22,110 shares of company stock valued at $1,168,920 in the last 90 days. 1.70% of the stock is currently owned by corporate insiders.

Institutional Trading of Fluor

Institutional investors and hedge funds have recently made changes to their positions in the business. Seelaus Asset Management LLC grew its stake in Fluor by 2.9% in the 4th quarter. Seelaus Asset Management LLC now owns 8,790 shares of the construction company's stock valued at $348,000 after acquiring an additional 245 shares during the period. Northwestern Mutual Wealth Management Co. grew its stake in Fluor by 7.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,782 shares of the construction company's stock valued at $194,000 after acquiring an additional 248 shares during the period. Clearstead Advisors LLC grew its stake in Fluor by 20.9% in the 3rd quarter. Clearstead Advisors LLC now owns 1,594 shares of the construction company's stock valued at $67,000 after acquiring an additional 276 shares during the period. Truist Financial Corp grew its stake in Fluor by 5.7% in the 3rd quarter. Truist Financial Corp now owns 5,361 shares of the construction company's stock valued at $226,000 after acquiring an additional 288 shares during the period. Finally, Clear Creek Financial Management LLC grew its stake in Fluor by 2.7% in the 4th quarter. Clear Creek Financial Management LLC now owns 11,756 shares of the construction company's stock valued at $466,000 after acquiring an additional 310 shares during the period. 88.07% of the stock is currently owned by hedge funds and other institutional investors.

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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