Seaport Global Securities Begins Coverage on Flir Systems Inc. (FLIR)
Seaport Global Securities began coverage on shares of Flir Systems Inc. (NASDAQ:FLIR) in a research report report published on Friday morning. The brokerage issued a buy rating and a $36.00 target price on the stock.
Several other research firms have also commented on FLIR. Raymond James Financial Inc. lowered 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. Zacks Investment Research raised Flir Systems from a sell rating to a hold rating in a research report on Monday, July 18th. Drexel Hamilton reaffirmed a buy rating and set a $36.00 target price on shares of Flir Systems in a research report on Monday, October 3rd. Imperial Capital reaffirmed an outperform rating and set a $40.00 target price on shares of Flir Systems in a research report on Friday, September 9th. Finally, Robert W. Baird initiated coverage on Flir Systems in a research report on Wednesday, October 5th. They set a neutral rating and a $34.00 target price on the stock. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Flir Systems presently has an average rating of Buy and a consensus price target of $36.11.
Shares of Flir Systems (NASDAQ:FLIR) opened at 29.50 on Friday. Flir Systems has a 12 month low of $25.12 and a 12 month high of $34.09. The firm has a market capitalization of $4.05 billion, a PE ratio of 21.77 and a beta of 0.51. The company has a 50 day moving average price of $31.01 and a 200-day moving average price of $31.37.
Flir Systems (NASDAQ:FLIR) last released its quarterly earnings data on Wednesday, July 27th. The company reported $0.34 EPS for the quarter, missing the consensus estimate of $0.35 by $0.01. Flir Systems had a net margin of 11.85% and a return on equity of 12.68%. The company earned $402.70 million during the quarter, compared to analysts’ expectations of $401.56 million. During the same period last year, the business earned $0.36 earnings per share. The company’s revenue for the quarter was up 2.5% compared to the same quarter last year. Equities research analysts expect that Flir Systems will post $1.61 EPS for the current fiscal year.
In related news, VP Jeffrey Frank sold 10,000 shares of the business’s stock in a transaction dated Friday, September 9th. The stock was sold at an average price of $30.73, for a total value of $307,300.00. Following the completion of 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 filing with the SEC, which can be accessed through this link. 3.00% of the stock is owned by corporate insiders.
A number of institutional investors have recently modified their holdings of FLIR. William Harris Investors Inc. increased its position in shares of Flir Systems by 2.1% in the first quarter. William Harris Investors Inc. now owns 175,439 shares of the company’s stock worth $5,781,000 after buying an additional 3,612 shares during the last quarter. M&T Bank Corp bought a new position in shares of Flir Systems during the first quarter worth approximately $282,000. Palisade Capital Management LLC NJ bought a new position in shares of Flir Systems during the first quarter worth approximately $4,041,000. JPMorgan Chase & Co. increased its position in shares of Flir Systems by 885.8% in the first quarter. JPMorgan Chase & Co. now owns 1,250,862 shares of the company’s stock worth $41,216,000 after buying an additional 1,123,969 shares during the last quarter. Finally, BlackRock Japan Co. Ltd increased its position in shares of Flir Systems by 48.3% in the first quarter. BlackRock Japan Co. Ltd now owns 267,313 shares of the company’s stock worth $8,808,000 after buying an additional 87,018 shares during the last quarter. 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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