Flir Systems Inc. (FLIR) Coverage Initiated by Analysts at Robert W. Baird
Robert W. Baird assumed coverage on shares of Flir Systems Inc. (NASDAQ:FLIR) in a research note published on Wednesday morning. The brokerage issued a neutral rating and a $34.00 price objective on the stock.
Several other equities analysts also recently weighed in on FLIR. Zacks Investment Research downgraded Flir Systems from a hold rating to a sell rating in a research report on Wednesday, June 8th. Raymond James Financial Inc. downgraded Flir Systems from a strong-buy rating to an outperform rating and set a $36.00 price objective on the stock. in a research report on Monday, July 25th. Imperial Capital restated an outperform rating and issued a $40.00 price objective on shares of Flir Systems in a research report on Friday, September 9th. Drexel Hamilton restated a buy rating and issued a $36.00 price objective on shares of Flir Systems in a research report on Monday. Finally, Needham & Company LLC restated a buy rating and issued a $36.00 price objective on shares of Flir Systems in a research report on Tuesday. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock presently has an average rating of Buy and an average price target of $36.13.
Flir Systems (NASDAQ:FLIR) traded down 2.17% on Wednesday, reaching $30.17. The company’s stock had a trading volume of 86,208 shares. The stock has a market cap of $4.14 billion, a PE ratio of 22.27 and a beta of 0.51. Flir Systems has a 12-month low of $25.12 and a 12-month high of $34.09. The company’s 50 day moving average price is $31.07 and its 200-day moving average price is $31.47.
Flir Systems (NASDAQ:FLIR) last released its earnings results on Wednesday, July 27th. The company reported $0.34 earnings per share 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 analysts’ expectations 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% on a year-over-year basis. During the same quarter last year, the firm posted $0.36 earnings per share. On average, equities analysts expect that Flir Systems will post $1.61 EPS for the current year.
In other Flir Systems news, VP Jeffrey Frank sold 10,000 shares of the business’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 sale, the vice president now directly owns 21,769 shares of the company’s stock, valued at $668,961.37. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 3.00% of the company’s stock.
A number of large investors have recently modified their holdings of FLIR. Carroll Financial Associates Inc. bought a new stake in shares of Flir Systems during the second quarter valued at $105,000. Nordea Investment Management AB boosted its stake 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 valued at $116,000 after buying an additional 331 shares during the last quarter. Contravisory Investment Management Inc. bought a new stake in shares of Flir Systems during the second quarter valued at $200,000. Janney Montgomery Scott LLC bought a new stake in shares of Flir Systems during the second quarter valued at $207,000. Finally, Dynamic Technology Lab Private Ltd bought a new stake in shares of Flir Systems during the second quarter valued at $213,000. 90.74% of the stock is currently owned by institutional investors.
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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