Flir Systems Inc. (NASDAQ:FLIR)‘s stock had its “buy” rating reaffirmed by stock analysts at Needham & Company LLC in a note issued to investors on Tuesday. They presently have a $36.00 target price on the stock. Needham & Company LLC’s price objective indicates a potential upside of 16.73% from the stock’s previous close.
Several other research firms have also recently commented on FLIR. Raymond James Financial Inc. cut shares of Flir Systems from a “strong-buy” rating to an “outperform” rating and set a $36.00 target price for the company. in a research note on Monday, July 25th. Drexel Hamilton restated a “buy” rating and issued a $36.00 price objective on shares of Flir Systems in a research note on Monday. Zacks Investment Research upgraded shares of Flir Systems from a “sell” rating to a “hold” rating in a research note on Monday, July 18th. Finally, Imperial Capital restated an “outperform” rating and issued a $40.00 price objective on shares of Flir Systems in a research note on Friday, September 9th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Flir Systems presently has a consensus rating of “Buy” and a consensus target price of $36.43.
Shares of Flir Systems (NASDAQ:FLIR) opened at 30.84 on Tuesday. Flir Systems has a 52 week low of $25.12 and a 52 week high of $34.09. The stock has a 50 day moving average of $31.07 and a 200-day moving average of $31.47. The firm has a market capitalization of $4.23 billion, a price-to-earnings ratio of 22.76 and a beta of 0.51.
Flir Systems (NASDAQ:FLIR) last released its earnings results on Wednesday, July 27th. The company reported $0.34 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.35 by $0.01. The company had revenue of $402.70 million for the quarter, compared to analyst estimates of $401.56 million. Flir Systems had a net margin of 11.85% and a return on equity of 12.68%. Flir Systems’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.36 earnings per share. Analysts expect that Flir Systems will post $1.61 earnings per share for the current year.
In related news, VP Jeffrey Frank sold 10,000 shares of the stock in a transaction dated Friday, September 9th. The shares were sold at an average price of $30.73, for a total transaction of $307,300.00. Following the completion of the sale, the vice president now owns 21,769 shares in the company, valued at approximately $668,961.37. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 3.00% of the company’s stock.
Large investors have recently made changes to their positions in the company. Hermes Investment Management Ltd. boosted its stake in shares of Flir Systems by 5.6% in the second quarter. Hermes Investment Management Ltd. now owns 1,112,874 shares of the company’s stock worth $34,443,000 after buying an additional 58,836 shares during the period. Geode Capital Management LLC raised its stake in shares of Flir Systems by 2.6% in the first quarter. Geode Capital Management LLC now owns 1,170,368 shares of the company’s stock worth $38,486,000 after buying an additional 29,288 shares in the last quarter. Pictet Asset Management Ltd. raised its stake in shares of Flir Systems by 8.5% in the first quarter. Pictet Asset Management Ltd. now owns 168,314 shares of the company’s stock worth $5,211,000 after buying an additional 13,200 shares in the last quarter. Victory Capital Management Inc. raised its stake in shares of Flir Systems by 37.7% in the second quarter. Victory Capital Management Inc. now owns 2,563,092 shares of the company’s stock worth $79,328,000 after buying an additional 701,405 shares in the last quarter. Finally, Loomis Sayles & Co. L P bought a new stake in shares of Flir Systems during the first quarter worth approximately $12,194,000. Institutional investors and hedge funds own 90.74% 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 advanced threat-detection solutions. The Company’s segments include Surveillance, Instruments, Security, OEM & Emerging Markets, Maritime and Detection.
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