FLIR Systems (NASDAQ:FLIR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday, January 9th. The firm presently has a $56.00 target price on the scientific and technical instruments company’s stock. Zacks Investment Research‘s price objective suggests a potential upside of 12.13% from the company’s current price.
According to Zacks, “FLIR Systems is enjoying strong top-line growth, as robust momentum in its commercial products and positive performance of most of its segments drive growth. The company’s solid execution and streamlined business are expected to drive solid improvements in backlog, adjusted gross margin and earnings per share. Going forward, the company believes that its robust pipeline of products and steady market traction of the recently launched products will continue to drive revenue growth. Moreover, FLIR Systems’ strategic acquisitions and the resiliency of the CDMQ model are also expected to propel growth. Over the past year, FLIR Systems’ shares have outperformed compared with the industry average. Despite these positives, the company’s gross margins are vulnerable to a host of factors, including product mix changes and manufacturing cost absorption.”
FLIR has been the topic of several other research reports. Needham & Company LLC reaffirmed a “buy” rating and set a $50.00 target price (up previously from $42.00) on shares of FLIR Systems in a research note on Thursday, October 26th. ValuEngine cut FLIR Systems from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Raymond James Financial upped their target price on FLIR Systems to $60.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, October 25th. SunTrust Banks raised FLIR Systems from a “hold” rating to a “buy” rating and set a $43.00 target price for the company in a research report on Monday, January 8th. Finally, Robert W. Baird reaffirmed a “hold” rating and set a $34.00 target price on shares of FLIR Systems in a research report on Tuesday, October 24th. Five equities research analysts have rated the stock with a hold rating, three have issued a buy rating and two have given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $46.83.
Shares of FLIR Systems (NASDAQ FLIR) opened at $49.94 on Tuesday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.36 and a current ratio of 3.48. FLIR Systems has a twelve month low of $33.75 and a twelve month high of $52.88. The stock has a market capitalization of $6,920.39, a PE ratio of 31.41 and a beta of 0.66.
A number of institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in FLIR Systems by 2.1% during the second quarter. Vanguard Group Inc. now owns 13,611,660 shares of the scientific and technical instruments company’s stock worth $471,779,000 after acquiring an additional 285,535 shares in the last quarter. BlackRock Inc. grew its holdings in shares of FLIR Systems by 6.6% during the second quarter. BlackRock Inc. now owns 9,366,367 shares of the scientific and technical instruments company’s stock worth $324,639,000 after purchasing an additional 576,951 shares during the last quarter. Cramer Rosenthal Mcglynn LLC grew its holdings in shares of FLIR Systems by 153.9% during the second quarter. Cramer Rosenthal Mcglynn LLC now owns 3,038,846 shares of the scientific and technical instruments company’s stock worth $105,326,000 after purchasing an additional 1,841,965 shares during the last quarter. Findlay Park Partners LLP boosted its holdings in FLIR Systems by 38.3% in the third quarter. Findlay Park Partners LLP now owns 2,165,000 shares of the scientific and technical instruments company’s stock valued at $84,240,000 after acquiring an additional 600,000 shares during the last quarter. Finally, Earnest Partners LLC boosted its holdings in FLIR Systems by 0.7% in the third quarter. Earnest Partners LLC now owns 2,143,629 shares of the scientific and technical instruments company’s stock valued at $83,409,000 after acquiring an additional 14,956 shares during the last quarter. Hedge funds and other institutional investors own 92.81% 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 threat-detection solutions. The Company’s segments include Surveillance, Instruments, Security, OEM & Emerging Markets, Maritime and Detection.
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