KeyCorp Lowers Fluor (NYSE:FLR) Price Target to $41.00

Fluor (NYSE:FLR) had its target price lowered by equities research analysts at KeyCorp from $54.00 to $41.00 in a note issued to investors on Friday,Benzinga reports. The firm presently has an “overweight” rating on the construction company’s stock. KeyCorp’s price target would suggest a potential upside of 32.21% from the stock’s current price.

Other research analysts also recently issued research reports about the stock. Barclays set a $40.00 target price on shares of Fluor and gave the company an “equal weight” rating in a research report on Thursday, February 27th. Truist Financial dropped their price objective on shares of Fluor from $65.00 to $60.00 and set a “buy” rating on the stock in a report on Wednesday, February 19th. Baird R W downgraded Fluor from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 18th. DA Davidson reduced their price objective on Fluor from $65.00 to $55.00 and set a “buy” rating for the company in a research note on Wednesday, February 19th. Finally, Robert W. Baird lowered their target price on Fluor from $46.00 to $43.00 and set a “neutral” rating on the stock in a research report on Thursday. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, Fluor currently has a consensus rating of “Moderate Buy” and an average target price of $51.57.

Fluor Trading Down 8.7 %

Shares of NYSE FLR traded down $2.96 during midday trading on Friday, reaching $31.01. The stock had a trading volume of 825,388 shares, compared to its average volume of 2,081,933. Fluor has a twelve month low of $31.00 and a twelve month high of $60.10. The company’s 50 day moving average price is $40.65 and its 200 day moving average price is $47.81. The firm has a market cap of $5.21 billion, a price-to-earnings ratio of 2.57, a price-to-earnings-growth ratio of 1.36 and a beta of 1.66. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.77 and a current ratio of 1.69.

Fluor (NYSE:FLR) last issued its quarterly earnings results 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 for the quarter, compared to analyst estimates of $4.42 billion. Fluor had a return on equity of 15.14% and a net margin of 13.14%. As a group, sell-side analysts expect that Fluor will post 2.5 EPS for the current year.

Institutional Investors Weigh In On Fluor

Several institutional investors have recently bought and sold shares of the stock. Versant Capital Management Inc boosted its holdings in Fluor by 2,509.5% during the 4th quarter. Versant Capital Management Inc now owns 548 shares of the construction company’s stock worth $27,000 after acquiring an additional 527 shares during the last quarter. Sterling Capital Management LLC lifted its position in shares of 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 purchased a new position in Fluor during the fourth quarter worth about $33,000. Smartleaf Asset Management LLC grew its position in 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 purchasing an additional 287 shares in the last quarter. Finally, 1620 Investment Advisors Inc. purchased a new stake in Fluor in the 4th quarter valued at about $57,000. Institutional investors own 88.07% of the company’s stock.

About Fluor

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.