Flir Systems Inc. (FLIR) Given Consensus Recommendation of “Buy” by Analysts
Flir Systems Inc. (NASDAQ:FLIR) has been given a consensus recommendation of “Buy” by the ten ratings firms that are currently covering the company. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 1 year price target among brokers that have covered the stock in the last year is $35.67.
Several equities research analysts have weighed in on the company. Imperial Capital cut their price target on Flir Systems from $40.00 to $36.00 and set an “outperform” rating on the stock in a research report on Friday, November 4th. Zacks Investment Research downgraded Flir Systems from a “buy” rating to a “hold” rating in a research report on Friday, October 28th. Seaport Global Securities assumed coverage on Flir Systems in a research report on Friday, October 7th. They set a “buy” rating and a $36.00 price target on the stock. Robert W. Baird assumed coverage on Flir Systems in a research report on Wednesday, October 5th. They set a “neutral” rating and a $34.00 price target on the stock. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $36.00 price target on shares of Flir Systems in a research report on Tuesday, October 4th.
In other Flir Systems news, Director Angus L. Macdonald sold 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 2nd. The shares were sold at an average price of $32.86, for a total value of $657,200.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Jeffrey Frank sold 10,000 shares of the firm’s 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 completion of the transaction, the vice president now directly owns 21,769 shares in the company, valued at $668,961.37. The disclosure for this sale can be found here. 3.00% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Capstone Asset Management Co. raised its position in Flir Systems by 0.6% in the second quarter. Capstone Asset Management Co. now owns 8,701 shares of the company’s stock worth $269,000 after buying an additional 50 shares during the period. World Asset Management Inc increased its stake in shares of Flir Systems by 0.4% in the second quarter. World Asset Management Inc now owns 13,653 shares of the company’s stock worth $423,000 after buying an additional 52 shares in the last quarter. M&T Bank Corp increased its stake in shares of Flir Systems by 0.8% in the second quarter. M&T Bank Corp now owns 8,638 shares of the company’s stock worth $267,000 after buying an additional 66 shares in the last quarter. Advisor Group Inc. increased its stake in shares of Flir Systems by 0.7% in the third quarter. Advisor Group Inc. now owns 14,276 shares of the company’s stock worth $450,000 after buying an additional 98 shares in the last quarter. Finally, Arizona State Retirement System increased its stake in shares of Flir Systems by 0.3% in the third quarter. Arizona State Retirement System now owns 33,822 shares of the company’s stock worth $1,063,000 after buying an additional 100 shares in the last quarter. 89.20% of the stock is currently owned by institutional investors and hedge funds.
Shares of Flir Systems (NASDAQ:FLIR) traded up 1.99% during midday trading on Wednesday, hitting $35.95. The stock had a trading volume of 404,532 shares. The stock has a market cap of $4.89 billion, a PE ratio of 28.26 and a beta of 0.49. Flir Systems has a 52-week low of $26.48 and a 52-week high of $36.10. The firm has a 50 day moving average price of $32.38 and a 200-day moving average price of $31.50.
Flir Systems (NASDAQ:FLIR) last announced its quarterly earnings results on Wednesday, October 26th. The company reported $0.43 earnings per share for the quarter, hitting the consensus estimate of $0.43. The company had revenue of $405.20 million for the quarter, compared to the consensus estimate of $161.36 million. Flir Systems had a return on equity of 12.80% and a net margin of 10.79%. The firm’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same period last year, the firm earned $0.40 EPS. Equities analysts predict that Flir Systems will post $1.61 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 2nd. Investors of record on Friday, November 18th will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 1.36%. The ex-dividend date is Wednesday, November 16th. Flir Systems’s dividend payout ratio is presently 37.50%.
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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