Stock Analysis:Fluor Corporation (NYSE:FLR) Price Target Change
In recent note revealed to clients and investors by Canaccord Genuity on 8 December, Fluor Corporation (NYSE:FLR) had its target price per share increased to $57.00. The firm currently has a solid “Buy” rating on shares.
From a total of 21 analysts covering Fluor Corporation (NYSE:FLR) stock, 13 rate it a ”Buy”, 1 a “Sell”, and 9 a ”Hold”. This means that 57% of the ratings are positive. The highest target price is $70 while the lowest target price is $46. The mean of all analyst targets is $54.81 with a 23.01% above today’s ($45.89) stock price. Fluor Corporation was the topic of 14 analyst reports since July 31, 2015 according to the firm StockzIntelligence Inc. Citigroup initiated shares on November 13 with “Buy” rating. UBS downgraded shares to “Neutral” rating and $51 target share price in a report from a July 31. William Blair maintained FLR stock in a recent report from August 21 with “Outperform” rating. Cowen & Co maintained the rating on July 31. Cowen & Co has a “Outperform” rating and a $62 price target on shares. Finally, Deutsche Bank maintained the stock with “Hold” rating in a report issued on a July 31.
The stock decreased 3.06% or $1.45 during the last trading session, striking $45.89. Approximately shares of stock traded hands. Fluor Corporation (NEW) (NYSE:FLR) has declined 22.09% since May 6, 2015 and is downtrending. It has underperformed by 21.29% the S&P500.
The overall sentiment of institutions has decreased to 0.66 in Q2 2015. Its down 0.28, from 0.94 in 2015Q2. The ratio turned negative, as 78 institutions have sold all the shares of Fluor Corporation (NEW) that they owned while 210 funds have taken shares off the table. 40 funds have purchased shares for the first time while 149 added to their positions. These institutions now hold 124.87 million shares or 8.29% more than the 115.31 million shares they owned in 2015Q2.
The Fund Bruni J V & Co Co currently is holding shares equating to 2.94% of its total portfolio in Fluor Corporation (NEW) representing a total of 341,416 shares. Another fund,Petrus Trust Company Lta, is holding a total of 263,367 shares equating to 2.37% of their holdings. Additionally, Ci Global Investments Inc. has a 2.39 million share stake in Fluor Corporation (NEW) which represents 2.36% of their total portfolio. The Fund, Hgk Asset Management Inc, based out of New Jersey, has also built up a stake in the stock, which represents a total of 2.13% of their total portfolio. Finally Beck Mack & Oliver Llc, a fund which is based in the state of New York reported a total holdings of 1.64 million shares.
Fluor Corporation is a holding company. The company has a market cap of $6.70 billion. The Firm is a professional services company. It has 10.02 P/E ratio. The Firm provides engineering, procurement, construction, fabrication and modularization, commissioning and maintenance, as well as project management services.
According to Zacks Investment Research, “Fluor is a FORTUNE 500 company that delivers engineering, procurement, construction, maintenance (EPCM), and project management to governments and clients in diverse industries around the world. Fluor serves a number of industries worldwide, including oil and gas, chemical and petrochemicals, transportation, mining and metals, power, life sciences and manufacturing. Fluor is also a primary service provider to the United States Federal Government. It performs operations and maintenance activities for major industrial clients, and also operates and maintains their equipment fleet. The Company is aligned into five principal operating segments: Oil and Gas, Industrial and Infrastructure, Government, Global Services and Power. The company also offers unionized management and construction services in the United States and Canada. Fluor Corporation is headquartered in Irving, Texas.” Get a free copy of the Zacks research report on Fluor Corporation (NEW) (FLR).