BidaskClub downgraded shares of FLIR Systems (NASDAQ:FLIR) from a buy rating to a hold rating in a report published on Thursday, September 20th.
FLIR has been the topic of a number of other research reports. Zacks Investment Research upgraded FLIR Systems from a hold rating to a buy rating and set a $60.00 target price on the stock in a research report on Monday, July 23rd. William Blair upgraded FLIR Systems from a market perform rating to an outperform rating in a research report on Monday, August 20th. Seaport Global Securities restated a buy rating and issued a $66.00 target price on shares of FLIR Systems in a research report on Thursday, July 26th. Imperial Capital restated an outperform rating and issued a $60.00 target price (up previously from $53.00) on shares of FLIR Systems in a research report on Wednesday, August 1st. Finally, Stephens lifted their target price on FLIR Systems from $61.00 to $69.00 and gave the company an overweight rating in a research report on Monday, July 30th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus target price of $56.75.
Shares of NASDAQ:FLIR traded up $0.86 during trading on Thursday, reaching $56.06. The stock had a trading volume of 714,940 shares, compared to its average volume of 952,968. FLIR Systems has a 1-year low of $42.33 and a 1-year high of $63.88. The firm has a market capitalization of $8.48 billion, a PE ratio of 29.82 and a beta of 0.68. The company has a debt-to-equity ratio of 0.23, a current ratio of 4.07 and a quick ratio of 2.85.
FLIR Systems (NASDAQ:FLIR) last announced its quarterly earnings data on Wednesday, July 25th. The scientific and technical instruments company reported $0.55 EPS for the quarter, topping the Zacks’ consensus estimate of $0.49 by $0.06. FLIR Systems had a return on equity of 16.44% and a net margin of 6.70%. The firm had revenue of $452.70 million for the quarter, compared to the consensus estimate of $429.12 million. During the same quarter last year, the business posted $0.42 earnings per share. The firm’s revenue was up 4.3% compared to the same quarter last year. As a group, analysts expect that FLIR Systems will post 2.22 earnings per share for the current year.
In related news, Director Earl R. Lewis sold 25,000 shares of the business’s stock in a transaction on Friday, August 17th. The stock was sold at an average price of $60.09, for a total transaction of $1,502,250.00. Following the completion of the transaction, the director now directly owns 538,387 shares of the company’s stock, valued at approximately $32,351,674.83. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Jeffrey Frank sold 42,912 shares of the business’s stock in a transaction on Friday, September 7th. The stock was sold at an average price of $62.19, for a total value of $2,668,697.28. The disclosure for this sale can be found here. Insiders sold a total of 133,264 shares of company stock worth $8,081,353 in the last quarter. Company insiders own 2.00% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in FLIR. Artisan Partners Limited Partnership acquired a new position in shares of FLIR Systems during the 1st quarter worth about $85,388,000. Morgan Stanley boosted its position in shares of FLIR Systems by 217.7% during the 2nd quarter. Morgan Stanley now owns 957,781 shares of the scientific and technical instruments company’s stock worth $49,776,000 after acquiring an additional 656,278 shares in the last quarter. Argent Capital Management LLC boosted its position in shares of FLIR Systems by 109.6% during the 2nd quarter. Argent Capital Management LLC now owns 1,230,485 shares of the scientific and technical instruments company’s stock worth $63,948,000 after acquiring an additional 643,290 shares in the last quarter. Janus Henderson Group PLC boosted its position in shares of FLIR Systems by 846.8% during the 2nd quarter. Janus Henderson Group PLC now owns 633,637 shares of the scientific and technical instruments company’s stock worth $32,930,000 after acquiring an additional 566,711 shares in the last quarter. Finally, Atlanta Capital Management Co. L L C boosted its position in shares of FLIR Systems by 10.4% during the 1st quarter. Atlanta Capital Management Co. L L C now owns 4,131,454 shares of the scientific and technical instruments company’s stock worth $206,614,000 after acquiring an additional 388,482 shares in the last quarter. 90.58% of the stock is owned by hedge funds and other institutional investors.
FLIR Systems Company Profile
FLIR Systems, Inc designs, develops, manufactures, and markets thermal imaging systems, visible-light imaging systems, locater systems, measurement and diagnostic systems, and threat-detection solutions worldwide. The company operates in six segments: Surveillance, Instruments, Security, OEM & Emerging Markets, Maritime, and Detection.
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