FLIR Systems, Inc. (NASDAQ:FLIR) Stock Rating Upgraded by Raymond James Financial, Inc.
Raymond James Financial, Inc. upgraded shares of FLIR Systems, Inc. (NASDAQ:FLIR) from a market perform rating to a strong-buy rating in a research report released on Monday, July 10th, MarketBeat.com reports. The firm currently has $43.00 price objective on the scientific and technical instruments company’s stock.
FLIR has been the subject of a number of other research reports. BidaskClub cut shares of FLIR Systems from a hold rating to a sell rating in a research note on Tuesday, June 13th. Zacks Investment Research cut shares of FLIR Systems from a buy rating to a hold rating in a research note on Tuesday, April 18th. Stephens began coverage on shares of FLIR Systems in a research note on Friday, July 7th. They set an overweight rating for the company. Finally, UBS AG raised shares of FLIR Systems from a market perform rating to a strong-buy rating in a report on Monday, July 10th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, four have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of Buy and a consensus target price of $38.13.
FLIR Systems (NASDAQ:FLIR) opened at 37.60 on Monday. The stock has a market cap of $5.16 billion, a P/E ratio of 24.24 and a beta of 0.59. FLIR Systems has a 12-month low of $28.26 and a 12-month high of $38.94. The stock has a 50 day moving average price of $36.34 and a 200-day moving average price of $36.40.
FLIR Systems (NASDAQ:FLIR) last released its earnings results on Wednesday, July 26th. The scientific and technical instruments company reported $0.42 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.41 by $0.01. FLIR Systems had a net margin of 12.44% and a return on equity of 13.97%. The business had revenue of $434.12 million during the quarter, compared to analysts’ expectations of $437.32 million. During the same quarter last year, the company earned $0.37 earnings per share. The firm’s revenue was up 7.8% on a year-over-year basis. On average, equities analysts expect that FLIR Systems will post $1.85 earnings per share for the current year.
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The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 8th. Shareholders of record on Friday, August 25th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Wednesday, August 23rd. This represents a $0.60 dividend on an annualized basis and a yield of 1.60%. FLIR Systems’s payout ratio is presently 38.46%.
In other news, Director Earl R. Lewis sold 15,000 shares of FLIR Systems stock in a transaction on Friday, May 12th. The shares were sold at an average price of $37.26, for a total transaction of $558,900.00. Following the transaction, the director now directly owns 551,234 shares of the company’s stock, valued at $20,538,978.84. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director William Wright Crouch sold 38,800 shares of FLIR Systems stock in a transaction on Wednesday, June 14th. The stock was sold at an average price of $35.95, for a total transaction of $1,394,860.00. Following the transaction, the director now directly owns 36,006 shares in the company, valued at $1,294,415.70. The disclosure for this sale can be found here. Over the last three months, insiders have sold 79,358 shares of company stock worth $2,908,123. Insiders own 3.00% of the company’s stock.
A number of large investors have recently modified their holdings of FLIR. Cribstone Capital Management LLC acquired a new stake in shares of FLIR Systems during the first quarter valued at about $106,000. TrimTabs Asset Management LLC acquired a new stake in shares of FLIR Systems during the first quarter valued at about $112,000. Mn Services Vermogensbeheer B.V. raised its stake in shares of FLIR Systems by 4.7% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 3,638 shares of the scientific and technical instruments company’s stock valued at $123,000 after buying an additional 163 shares during the last quarter. FTB Advisors Inc. acquired a new stake in shares of FLIR Systems during the first quarter valued at about $130,000. Finally, Daiwa Securities Group Inc. raised its stake in shares of FLIR Systems by 21.9% in the first quarter. Daiwa Securities Group Inc. now owns 3,900 shares of the scientific and technical instruments company’s stock valued at $141,000 after buying an additional 700 shares during the last quarter. Hedge funds and other institutional investors own 90.55% of the company’s stock.
About FLIR Systems
FLIR Systems, Inc (FLIR) designs, develops, markets and distributes thermal imaging systems, visible-light imaging systems, locater systems, measurement and diagnostic systems and threat-detection solutions. The Company’s segments include Surveillance, Instruments, Security, OEM & Emerging Markets, Maritime and Detection.
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