BidaskClub Lowers FLIR Systems (NASDAQ:FLIR) to Hold

BidaskClub lowered shares of FLIR Systems (NASDAQ:FLIR) from a buy rating to a hold rating in a report issued on Thursday, BidAskClub reports.

Other research analysts also recently issued reports about the company. ValuEngine downgraded Zumiez from a hold rating to a sell rating in a report on Tuesday, July 2nd. Imperial Capital raised FLIR Systems from an in-line rating to an outperform rating and upped their target price for the stock from $56.00 to $57.00 in a research note on Wednesday, May 22nd. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus price target of $62.43.

Shares of NASDAQ:FLIR opened at $54.05 on Thursday. FLIR Systems has a 12-month low of $40.52 and a 12-month high of $63.88. The firm has a market capitalization of $7.32 billion, a P/E ratio of 24.35 and a beta of 1.18. The firm has a 50 day moving average of $52.62. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.45 and a quick ratio of 1.61.

FLIR Systems (NASDAQ:FLIR) last announced its quarterly earnings results on Wednesday, April 24th. The scientific and technical instruments company reported $0.53 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.48 by $0.05. FLIR Systems had a return on equity of 16.84% and a net margin of 17.13%. The company had revenue of $444.70 million during the quarter, compared to the consensus estimate of $440.98 million. During the same period in the previous year, the company posted $0.48 earnings per share. FLIR Systems’s revenue for the quarter was up 1.2% on a year-over-year basis. On average, equities research analysts anticipate that FLIR Systems will post 2.37 EPS for the current year.

In other news, Director John D. Carter sold 10,300 shares of the company’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $51.10, for a total transaction of $526,330.00. Following the completion of the transaction, the director now directly owns 53,537 shares of the company’s stock, valued at approximately $2,735,740.70. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Steven E. Wynne sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $52.53, for a total value of $525,300.00. Following the transaction, the director now directly owns 484,031 shares of the company’s stock, valued at $25,426,148.43. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 65,121 shares of company stock valued at $3,358,586. Corporate insiders own 2.00% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of FLIR. Great West Life Assurance Co. Can grew its position in shares of FLIR Systems by 2.6% during the 4th quarter. Great West Life Assurance Co. Can now owns 59,105 shares of the scientific and technical instruments company’s stock worth $2,437,000 after purchasing an additional 1,476 shares in the last quarter. Bessemer Group Inc. grew its position in shares of FLIR Systems by 18.2% during the 4th quarter. Bessemer Group Inc. now owns 1,454 shares of the scientific and technical instruments company’s stock worth $63,000 after purchasing an additional 224 shares in the last quarter. United Services Automobile Association grew its position in shares of FLIR Systems by 2.0% during the 4th quarter. United Services Automobile Association now owns 49,158 shares of the scientific and technical instruments company’s stock worth $2,140,000 after purchasing an additional 953 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of FLIR Systems by 7.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,135,991 shares of the scientific and technical instruments company’s stock worth $49,458,000 after purchasing an additional 76,145 shares in the last quarter. Finally, Natixis Advisors L.P. grew its position in shares of FLIR Systems by 7.0% during the 4th quarter. Natixis Advisors L.P. now owns 19,411 shares of the scientific and technical instruments company’s stock worth $845,000 after purchasing an additional 1,278 shares in the last quarter. Hedge funds and other institutional investors own 90.44% of the company’s stock.

About FLIR Systems

FLIR Systems, Inc designs, develops, markets, and distributes thermal imaging systems, visible-light imaging systems, locater systems, measurement and diagnostic systems, and threat-detection solutions worldwide. The company operates in three segments: Industrial Business Unit, Government and Defense Business Unit, and Commercial Business Unit.

Further Reading: Resistance Level

Analyst Recommendations for FLIR Systems (NASDAQ:FLIR)

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