Needham & Company LLC Increases FLIR Systems (FLIR) Price Target to $56.00

FLIR Systems (NASDAQ:FLIR) had its price target lifted by Needham & Company LLC from $50.00 to $56.00 in a research note issued to investors on Thursday, MarketBeat Ratings reports. The firm currently has a buy rating on the scientific and technical instruments company’s stock.

Several other research firms have also commented on FLIR. BidaskClub upgraded shares of FLIR Systems from a hold rating to a buy rating in a research report on Saturday, January 20th. Zacks Investment Research lowered shares of FLIR Systems from a buy rating to a hold rating in a research report on Friday, February 2nd. SunTrust Banks upgraded shares of FLIR Systems from a hold rating to a buy rating and set a $43.00 price target on the stock in a research report on Monday, January 8th. Raymond James Financial increased their price target on shares of FLIR Systems to $60.00 and gave the company a strong-buy rating in a research report on Wednesday, October 25th. Finally, ValuEngine lowered shares of FLIR Systems from a buy rating to a hold rating in a research report on Friday, December 1st. Five equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and two have assigned a strong buy rating to the company. The stock has an average rating of Buy and a consensus target price of $49.43.

FLIR Systems (FLIR) opened at $49.09 on Thursday. The company has a current ratio of 3.51, a quick ratio of 2.36 and a debt-to-equity ratio of 0.23. FLIR Systems has a 1 year low of $33.95 and a 1 year high of $52.88. The firm has a market cap of $6,800.00, a PE ratio of 63.75 and a beta of 0.66.

FLIR Systems (NASDAQ:FLIR) last issued its earnings results on Wednesday, February 14th. The scientific and technical instruments company reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.03. FLIR Systems had a net margin of 5.96% and a return on equity of 14.54%. The company had revenue of $494.80 million for the quarter, compared to analyst estimates of $501.44 million. During the same period in the prior year, the business posted $0.48 earnings per share. The firm’s revenue for the quarter was up 4.2% compared to the same quarter last year. equities analysts anticipate that FLIR Systems will post 2.11 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 9th. Stockholders of record on Friday, February 23rd will be given a $0.16 dividend. The ex-dividend date of this dividend is Thursday, February 22nd. This is a positive change from FLIR Systems’s previous quarterly dividend of $0.15. This represents a $0.64 annualized dividend and a dividend yield of 1.30%. FLIR Systems’s dividend payout ratio is currently 77.92%.

Several hedge funds have recently added to or reduced their stakes in the company. Exane Derivatives purchased a new position in shares of FLIR Systems during the fourth quarter valued at approximately $100,000. Twin Tree Management LP lifted its stake in shares of FLIR Systems by 110.0% during the fourth quarter. Twin Tree Management LP now owns 2,404 shares of the scientific and technical instruments company’s stock valued at $112,000 after buying an additional 1,259 shares during the period. Cerebellum GP LLC purchased a new position in shares of FLIR Systems during the fourth quarter valued at approximately $119,000. Advisory Services Network LLC lifted its stake in shares of FLIR Systems by 1,238.8% during the fourth quarter. Advisory Services Network LLC now owns 2,691 shares of the scientific and technical instruments company’s stock valued at $125,000 after buying an additional 2,490 shares during the period. Finally, First Mercantile Trust Co. purchased a new position in shares of FLIR Systems during the fourth quarter valued at approximately $145,000. Institutional investors and hedge funds own 91.63% 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.

Analyst Recommendations for FLIR Systems (NASDAQ:FLIR)

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