Flir Systems’ (FLIR) Buy Rating Reaffirmed at Drexel Hamilton
Several other equities research analysts also recently issued reports on FLIR. Zacks Investment Research downgraded Flir Systems from a hold rating to a sell rating in a report on Wednesday, June 8th. Raymond James Financial Inc. cut Flir Systems from a strong-buy rating to an outperform rating and set a $36.00 price objective for the company. in a research report on Monday, July 25th. Finally, Imperial Capital reaffirmed an outperform rating and set a $40.00 price objective on shares of Flir Systems in a research report on Friday, September 9th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company has an average rating of Buy and a consensus target price of $36.43.
Shares of Flir Systems (NASDAQ:FLIR) traded down 0.63% during midday trading on Monday, hitting $31.39. The stock had a trading volume of 159,501 shares. The company has a market capitalization of $4.31 billion, a PE ratio of 23.17 and a beta of 0.51. Flir Systems has a one year low of $25.12 and a one year high of $34.09. The firm’s 50-day moving average is $31.07 and its 200 day moving average is $31.49.
Flir Systems (NASDAQ:FLIR) last announced its quarterly earnings results on Wednesday, July 27th. The company reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by $0.01. Flir Systems had a return on equity of 12.68% and a net margin of 11.85%. The business earned $402.70 million during the quarter, compared to the consensus estimate of $401.56 million. During the same quarter last year, the company earned $0.36 earnings per share. The firm’s revenue was up 2.5% compared to the same quarter last year. Equities analysts expect that Flir Systems will post $1.61 earnings per share for the current fiscal year.
In other news, VP Jeffrey Frank sold 10,000 shares of the stock in a transaction that occurred on Friday, September 9th. The stock was sold at an average price of $30.73, for a total transaction of $307,300.00. Following the transaction, the vice president now owns 21,769 shares in the company, valued at $668,961.37. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 3.00% of the company’s stock.
Several institutional investors have recently made changes to their positions in the company. Carroll Financial Associates Inc. purchased a new position in shares of Flir Systems during the second quarter worth $105,000. Nordea Investment Management AB raised its position in shares of Flir Systems by 9.6% in the second quarter. Nordea Investment Management AB now owns 3,763 shares of the company’s stock worth $116,000 after buying an additional 331 shares during the period. Contravisory Investment Management Inc. purchased a new position in shares of Flir Systems during the second quarter worth $200,000. Janney Montgomery Scott LLC purchased a new position in shares of Flir Systems during the second quarter worth $207,000. Finally, Dynamic Technology Lab Private Ltd purchased a new position in shares of Flir Systems during the second quarter worth $213,000. Institutional investors own 90.74% of the company’s stock.
Flir Systems Company Profile
FLIR Systems, Inc (FLIR) designs, develops, markets and distributes thermal imaging systems, visible-light imaging systems, locater systems, measurement and diagnostic systems and advanced threat-detection solutions. The Company’s segments include Surveillance, Instruments, Security, OEM & Emerging Markets, Maritime and Detection.
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