Fluor (NYSE:FLR) Raised to Buy at Wall Street Zen

Fluor (NYSE:FLR) was upgraded by research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a report issued on Saturday.

FLR has been the topic of several other reports. Zacks Research upgraded shares of Fluor from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 11th. Robert W. Baird lifted their price target on Fluor from $49.00 to $65.00 and gave the stock a “neutral” rating in a research report on Monday, August 10th. Barclays boosted their price objective on Fluor from $40.00 to $50.00 and gave the stock an “equal weight” rating in a research note on Monday, August 10th. UBS Group upped their price objective on Fluor from $59.00 to $66.00 and gave the company a “buy” rating in a research report on Monday, August 10th. Finally, Citigroup raised their price objective on Fluor from $56.00 to $68.00 and gave the company a “buy” rating in a research note on Monday, August 10th. Four equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $63.33.

Fluor Trading Up 0.2%

FLR stock opened at $52.46 on Friday. The firm has a fifty day moving average price of $51.14 and a 200 day moving average price of $48.80. Fluor has a fifty-two week low of $39.33 and a fifty-two week high of $57.93. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.80 and a current ratio of 1.80. The firm has a market cap of $7.02 billion, a PE ratio of -4.27, a price-to-earnings-growth ratio of 1.64 and a beta of 1.25.

Fluor (NYSE:FLR) last released its quarterly earnings results on Friday, August 7th. The construction company reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $3.92 billion. During the same quarter in the prior year, the firm earned $0.43 earnings per share. Fluor’s revenue was up 8.8% on a year-over-year basis. Sell-side analysts anticipate that Fluor will post 2.66 earnings per share for the current fiscal year.

Insider Activity at Fluor

In other news, insider Pierre Edward Bechelany sold 5,000 shares of the company’s stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $55.24, for a total value of $276,200.00. Following the transaction, the insider directly owned 36,064 shares in the company, valued at approximately $1,992,175.36. This represents a 12.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible 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 Investors Weigh In On Fluor

Large investors have recently added to or reduced their stakes in the stock. Global Retirement Partners LLC purchased a new position in shares of Fluor during the second quarter worth approximately $25,000. Ancora Advisors LLC purchased a new stake in shares of Fluor in the second quarter valued at approximately $31,000. Assetmark Inc. grew its stake in Fluor by 249.0% in the fourth quarter. Assetmark Inc. now owns 677 shares of the construction company’s stock worth $27,000 after purchasing an additional 483 shares in the last quarter. Los Angeles Capital Management LLC bought a new position in Fluor in the fourth quarter worth approximately $27,000. Finally, Larson Financial Group LLC increased its holdings in Fluor by 6,116.7% during the 3rd quarter. Larson Financial Group LLC now owns 746 shares of the construction company’s stock worth $31,000 after purchasing an additional 734 shares during the period. 88.07% of the stock is owned by hedge funds and other institutional investors.

About Fluor

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.