FLIR Systems (FLIR) Cut to “Sell” at BidaskClub

BidaskClub lowered shares of FLIR Systems (NASDAQ:FLIR) from a hold rating to a sell rating in a research note published on Friday.

A number of other brokerages have also recently weighed in on FLIR. ValuEngine cut FLIR Systems from a buy rating to a hold rating in a research report on Wednesday, October 31st. Zacks Investment Research cut FLIR Systems from a buy rating to a hold rating in a research report on Monday, October 22nd. Needham & Company LLC increased their price target on FLIR Systems from $60.00 to $62.00 and gave the stock a buy rating in a research report on Thursday, July 26th. Stephens increased their price target on FLIR Systems from $61.00 to $69.00 and gave the stock an overweight rating in a research report on Monday, July 30th. Finally, Imperial Capital reiterated an outperform rating and set a $60.00 price target (up from $53.00) on shares of FLIR Systems in a research report on Wednesday, August 1st. One investment 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. FLIR Systems has a consensus rating of Hold and a consensus price target of $58.17.

NASDAQ FLIR traded down $0.98 on Friday, hitting $46.38. 54,470 shares of the stock traded hands, compared to its average volume of 1,095,586. FLIR Systems has a twelve month low of $45.00 and a twelve month high of $63.88. The stock has a market capitalization of $6.55 billion, a P/E ratio of 24.69 and a beta of 1.10. The company has a quick ratio of 3.04, a current ratio of 4.21 and a debt-to-equity ratio of 0.22.

FLIR Systems (NASDAQ:FLIR) last announced its quarterly earnings data on Tuesday, October 30th. The scientific and technical instruments company reported $0.57 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.57. The firm had revenue of $434.89 million for the quarter, compared to analysts’ expectations of $445.46 million. FLIR Systems had a return on equity of 16.74% and a net margin of 7.33%. FLIR Systems’s revenue for the quarter was down 6.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.52 earnings per share. On average, analysts anticipate that FLIR Systems will post 2.21 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 7th. Investors of record on Friday, November 23rd will be issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 1.38%. FLIR Systems’s dividend payout ratio (DPR) is 34.04%.

In related news, Director Earl R. Lewis sold 25,000 shares of the stock in a transaction that occurred on Friday, August 17th. The stock was sold at an average price of $60.09, for a total value of $1,502,250.00. Following the completion of the transaction, the director now directly owns 538,387 shares of the company’s stock, valued at approximately $32,351,674.83. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Todd M. Duchene sold 1,000 shares of the stock in a transaction that occurred on Monday, October 15th. The stock was sold at an average price of $55.63, for a total value of $55,630.00. The disclosure for this sale can be found here. Insiders sold a total of 90,912 shares of company stock valued at $5,594,537 over the last three months. Corporate insiders own 2.00% of the company’s stock.

A number of hedge funds have recently modified their holdings of FLIR. A.R.T. Advisors LLC bought a new position in FLIR Systems in the 1st quarter worth approximately $295,000. Jane Street Group LLC bought a new position in FLIR Systems during the 1st quarter valued at $451,000. Ladenburg Thalmann Financial Services Inc. boosted its stake in FLIR Systems by 44.4% during the 1st 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 purchasing an additional 2,620 shares in the last quarter. LPL Financial LLC boosted its stake in FLIR Systems by 4.7% during the 1st quarter. LPL Financial LLC now owns 33,425 shares of the scientific and technical instruments company’s stock valued at $1,672,000 after purchasing an additional 1,497 shares in the last quarter. Finally, Royal Bank of Canada boosted its stake in FLIR Systems by 23.1% during the 1st 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 purchasing an additional 14,378 shares in the last quarter. 90.72% of the stock is owned by institutional investors and hedge funds.

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.

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Analyst Recommendations for FLIR Systems (NASDAQ:FLIR)

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