Flir Systems Inc. (FLIR) Given Consensus Recommendation of “Buy” by Analysts
Flir Systems Inc. (NASDAQ:FLIR) has received an average recommendation of “Buy” from the ten analysts that are covering the stock. Three analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $35.67.
FLIR has been the topic of a number of recent analyst reports. Seaport Global Securities initiated coverage on shares of Flir Systems in a research note on Friday, October 7th. They set a “buy” rating and a $36.00 price target on the stock. Drexel Hamilton reaffirmed a “buy” rating and set a $36.00 price target on shares of Flir Systems in a research note on Monday, October 3rd. Needham & Company LLC reissued a “buy” rating and issued a $36.00 price objective on shares of Flir Systems in a research report on Tuesday, October 4th. Imperial Capital reissued an “outperform” rating and issued a $40.00 price objective on shares of Flir Systems in a research report on Friday, September 9th. Finally, Zacks Investment Research raised shares of Flir Systems from a “hold” rating to a “buy” rating and set a $36.00 price objective for the company in a research report on Thursday, October 27th.
Flir Systems (NASDAQ:FLIR) traded up 1.99% during midday trading on Wednesday, hitting $35.95. 404,532 shares of the stock traded hands. The company has a market cap of $4.89 billion, a PE ratio of 28.26 and a beta of 0.49. Flir Systems has a one year low of $26.48 and a one year high of $36.10. The company’s 50-day moving average is $32.38 and its 200-day moving average is $31.50.
Flir Systems (NASDAQ:FLIR) last posted its quarterly earnings results on Wednesday, October 26th. The company reported $0.43 earnings per share for the quarter, hitting the Zacks’ 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 net margin of 10.79% and a return on equity of 12.80%. Flir Systems’s revenue was up 6.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.40 earnings per share. Equities research analysts expect that Flir Systems will post $1.61 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 2nd. Investors of record on Friday, November 18th will be issued a dividend of $0.12 per share. 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 payout ratio is 37.50%.
In other Flir Systems news, VP Jeffrey Frank sold 10,000 shares of the stock in a transaction on Friday, September 9th. The shares were sold at an average price of $30.73, for a total transaction of $307,300.00. Following the transaction, the vice president now directly owns 21,769 shares in the company, valued at approximately $668,961.37. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John D. Carter sold 20,000 shares of the stock in a transaction on Friday, October 28th. The shares were sold at an average price of $32.66, for a total transaction of $653,200.00. The disclosure for this sale can be found here. Corporate insiders own 3.00% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of FLIR. Carroll Financial Associates Inc. bought a new position in Flir Systems during the second quarter worth approximately $105,000. Eqis Capital Management Inc. increased its position in Flir Systems by 4.4% in the second quarter. Eqis Capital Management Inc. now owns 11,982 shares of the company’s stock worth $371,000 after buying an additional 510 shares during the period. Marathon Asset Management LLP increased its position in Flir Systems by 1.8% in the second quarter. Marathon Asset Management LLP now owns 1,429,521 shares of the company’s stock worth $44,244,000 after buying an additional 25,953 shares during the period. Fenimore Asset Management Inc. increased its position in Flir Systems by 0.6% in the second quarter. Fenimore Asset Management Inc. now owns 1,112,910 shares of the company’s stock worth $34,445,000 after buying an additional 6,800 shares during the period. Finally, Capstone Asset Management Co. increased 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. Hedge funds and other institutional investors own 89.20% of the company’s stock.
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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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