FLIR Systems (NASDAQ:FLIR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Tuesday, January 9th. The firm currently has a $56.00 price target on the scientific and technical instruments company’s stock. Zacks Investment Research‘s price target indicates 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.”
A number of other research analysts also recently weighed in on FLIR. Needham & Company LLC restated a “buy” rating and issued a $50.00 price target (up from $42.00) on shares of FLIR Systems in a research note on Thursday, October 26th. SunTrust Banks upgraded FLIR Systems from a “hold” rating to a “buy” rating and set a $43.00 price target for the company in a research note on Monday, January 8th. Robert W. Baird restated a “hold” rating and issued a $34.00 price target on shares of FLIR Systems in a research note on Tuesday, October 24th. ValuEngine downgraded FLIR Systems from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Finally, Raymond James Financial raised their price objective on FLIR Systems to $60.00 and gave the company a “strong-buy” rating in a research report on Wednesday, October 25th. Five research analysts have rated the stock with a hold rating, three have assigned a buy rating and two have issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $46.83.
FLIR Systems (FLIR) opened at $49.94 on Tuesday. The company has a current ratio of 3.48, a quick ratio of 2.36 and a debt-to-equity ratio of 0.22. The stock has a market capitalization of $6,920.39, a PE ratio of 31.41 and a beta of 0.66. FLIR Systems has a fifty-two week low of $33.75 and a fifty-two week high of $52.88.
Several institutional investors and hedge funds have recently modified their holdings of the company. Exane Derivatives bought a new stake in FLIR Systems during the 4th quarter worth $100,000. Commonwealth Bank of Australia grew its position in FLIR Systems by 14.0% during the 2nd quarter. Commonwealth Bank of Australia now owns 3,250 shares of the scientific and technical instruments company’s stock worth $111,000 after acquiring an additional 400 shares during the last quarter. Acrospire Investment Management LLC bought a new stake in FLIR Systems during the 2nd quarter worth $116,000. Cerebellum GP LLC bought a new stake in FLIR Systems during the 4th quarter worth $119,000. Finally, ETF Managers Group LLC bought a new stake in FLIR Systems during the 2nd quarter worth $171,000. Institutional investors own 92.81% of the company’s stock.
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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 threat-detection solutions. The Company’s segments include Surveillance, Instruments, Security, OEM & Emerging Markets, Maritime and Detection.
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