Fluor Co. (NEW) (FLR) Stock Rating Upgraded by Goldman Sachs Group

Fluor Co. (NEW) (NYSE:FLR) was upgraded by stock analysts at Goldman Sachs Group from a “neutral” rating to a “buy” rating in a note issued to investors on Thursday, MarketBeat.com reports. The firm presently has a $59.00 target price on the construction company’s stock. Goldman Sachs Group’s price target would suggest a potential upside of 26.45% from the company’s current price.

FLR has been the subject of several other reports. MKM Partners restated a “hold” rating and set a $56.00 target price on shares of Fluor Co. (NEW) in a research note on Thursday, October 11th. UBS Group upgraded Fluor Co. (NEW) from a “neutral” rating to a “buy” rating and raised their target price for the company from $48.00 to $69.00 in a research note on Monday, August 13th. ValuEngine downgraded Fluor Co. (NEW) from a “buy” rating to a “hold” rating in a research note on Friday, October 12th. Zacks Investment Research downgraded Fluor Co. (NEW) from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 12th. Finally, Canaccord Genuity upgraded Fluor Co. (NEW) from a “hold” rating to a “buy” rating in a research note on Friday, August 17th. Eight analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $59.00.

NYSE:FLR opened at $46.66 on Thursday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.03 and a current ratio of 1.45. Fluor Co. has a 12 month low of $42.44 and a 12 month high of $62.09. The stock has a market capitalization of $6.57 billion, a price-to-earnings ratio of 28.63, a P/E/G ratio of 0.62 and a beta of 1.46.

Fluor Co. (NEW) (NYSE:FLR) last released its quarterly earnings data on Thursday, August 2nd. The construction company reported $0.81 EPS for the quarter, beating the consensus estimate of $0.70 by $0.11. Fluor Co. (NEW) had a return on equity of 11.63% and a net margin of 1.28%. The company had revenue of $4.88 billion for the quarter, compared to analyst estimates of $4.58 billion. During the same period last year, the company posted $0.72 earnings per share. The firm’s revenue was up 3.6% compared to the same quarter last year. Equities research analysts anticipate that Fluor Co. will post 2.7 EPS for the current fiscal year.

Several institutional investors have recently made changes to their positions in FLR. Artisan Partners Limited Partnership grew its stake in Fluor Co. (NEW) by 10.1% in the second quarter. Artisan Partners Limited Partnership now owns 5,865,827 shares of the construction company’s stock worth $286,135,000 after purchasing an additional 535,887 shares in the last quarter. Ashler Capital LLC grew its stake in Fluor Co. (NEW) by 27.2% in the second quarter. Ashler Capital LLC now owns 5,099,250 shares of the construction company’s stock worth $248,741,000 after purchasing an additional 1,091,110 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Fluor Co. (NEW) by 11.1% in the second quarter. Bank of New York Mellon Corp now owns 4,738,292 shares of the construction company’s stock worth $231,133,000 after purchasing an additional 475,286 shares in the last quarter. Bank of America Corp DE grew its stake in Fluor Co. (NEW) by 62.3% in the second quarter. Bank of America Corp DE now owns 2,256,406 shares of the construction company’s stock worth $110,066,000 after purchasing an additional 866,355 shares in the last quarter. Finally, Boston Partners grew its stake in Fluor Co. (NEW) by 2.5% in the second quarter. Boston Partners now owns 1,983,921 shares of the construction company’s stock worth $96,776,000 after purchasing an additional 47,578 shares in the last quarter. Institutional investors own 88.43% of the company’s stock.

Fluor Co. (NEW) Company Profile

Fluor Corporation, through its subsidiaries, provides engineering, procurement, construction, fabrication and modularization, commissioning and maintenance, and project management services worldwide. The company's Energy & Chemicals segment offers a range of design, engineering, procurement, construction, fabrication, and project management services in the upstream, midstream, downstream, chemical, petrochemical, offshore and onshore oil and gas production, liquefied natural gas and pipeline markets.

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Analyst Recommendations for Fluor Co. (NEW) (NYSE:FLR)

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