FLIR Systems (FLIR) Price Target Cut to $51.00

FLIR Systems (NASDAQ:FLIR) had its price target cut by equities research analysts at Imperial Capital from $60.00 to $51.00 in a research note issued on Thursday, MarketBeat reports. The firm presently has an “in-line” rating on the scientific and technical instruments company’s stock. Imperial Capital’s price target points to a potential upside of 6.81% from the stock’s previous close. Imperial Capital also issued estimates for FLIR Systems’ Q1 2019 earnings at $0.50 EPS, Q2 2019 earnings at $0.64 EPS and Q3 2020 earnings at $0.64 EPS. The analysts noted that the move was a valuation call.

FLIR has been the subject of several other reports. BidaskClub lowered shares of FLIR Systems from a “hold” rating to a “sell” rating in a research note on Thursday, October 11th. Zacks Investment Research raised shares of FLIR Systems from a “hold” rating to a “buy” rating and set a $60.00 target price for the company in a research note on Monday, July 23rd. ValuEngine lowered shares of FLIR Systems from a “buy” rating to a “hold” rating in a research note on Wednesday. Stephens increased their target price on shares of FLIR Systems from $61.00 to $69.00 and gave the company an “overweight” rating in a research note on Monday, July 30th. Finally, Seaport Global Securities reissued a “buy” rating and set a $66.00 target price on shares of FLIR Systems in a research note on Thursday, July 26th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $58.17.

FLIR stock opened at $47.75 on Thursday. FLIR Systems has a 12 month low of $45.00 and a 12 month high of $63.88. The company has a market cap of $6.40 billion, a P/E ratio of 25.40 and a beta of 0.68. The company has a quick ratio of 2.85, a current ratio of 4.21 and a debt-to-equity ratio of 0.22.

FLIR Systems (NASDAQ:FLIR) last released its earnings results on Tuesday, October 30th. The scientific and technical instruments company reported $0.57 EPS for the quarter, meeting the consensus estimate of $0.57. FLIR Systems had a net margin of 7.33% and a return on equity of 16.74%. The business had revenue of $434.89 million during the quarter, compared to analyst estimates of $445.46 million. During the same period in the prior year, the business earned $0.52 earnings per share. The business’s quarterly revenue was down 6.4% on a year-over-year basis. Equities analysts predict that FLIR Systems will post 2.21 earnings per share for the current fiscal year.

In other news, VP Jeffrey Frank sold 42,912 shares of the business’s stock in a transaction that occurred on Friday, September 7th. The shares were sold at an average price of $62.19, for a total transaction of $2,668,697.28. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Todd M. Duchene sold 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 15th. The shares were sold at an average price of $60.01, for a total transaction of $60,010.00. The disclosure for this sale can be found here. Insiders have sold 90,912 shares of company stock worth $5,594,537 in the last 90 days. 2.00% of the stock is owned by company insiders.

Several hedge funds have recently added to or reduced their stakes in FLIR. A.R.T. Advisors LLC acquired a new stake in shares of FLIR Systems during the first quarter valued at approximately $295,000. Jane Street Group LLC acquired a new stake in shares of FLIR Systems during the first quarter valued at approximately $451,000. Ladenburg Thalmann Financial Services Inc. raised its holdings in shares of FLIR Systems by 44.4% during the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 8,521 shares of the scientific and technical instruments company’s stock valued at $426,000 after acquiring an additional 2,620 shares during the period. LPL Financial LLC raised its holdings in shares of FLIR Systems by 4.7% during the first quarter. LPL Financial LLC now owns 33,425 shares of the scientific and technical instruments company’s stock valued at $1,672,000 after acquiring an additional 1,497 shares during the period. Finally, Royal Bank of Canada raised its holdings in shares of FLIR Systems by 23.1% during the first quarter. Royal Bank of Canada now owns 76,614 shares of the scientific and technical instruments company’s stock valued at $3,831,000 after acquiring an additional 14,378 shares during the period. Institutional investors and hedge funds own 90.58% of the company’s stock.

FLIR Systems Company Profile

FLIR Systems, Inc designs, develops, manufactures, and markets thermal imaging systems, visible-light imaging systems, locater systems, measurement and diagnostic systems, and threat-detection solutions worldwide. The company operates in six segments: Surveillance, Instruments, Security, OEM & Emerging Markets, Maritime, and Detection.

Further Reading: Understanding Price to Earnings Ratio (PE)

Analyst Recommendations for FLIR Systems (NASDAQ:FLIR)

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