ValuEngine Lowers FLIR Systems (FLIR) to Hold

ValuEngine downgraded shares of FLIR Systems (NASDAQ:FLIR) from a buy rating to a hold rating in a research note issued to investors on Wednesday.

Several other research firms have also issued reports on FLIR. BidaskClub raised FLIR Systems from a hold rating to a buy rating in a research note on Saturday, September 1st. William Blair raised FLIR Systems from a market perform rating to an outperform rating in a research report on Monday, August 20th. Stephens increased their price target on FLIR Systems from $61.00 to $69.00 and gave the company an overweight rating in a research report on Monday, July 30th. Imperial Capital reaffirmed an outperform rating and issued a $60.00 price target (up previously from $53.00) on shares of FLIR Systems in a research report on Wednesday, August 1st. Finally, Needham & Company LLC increased their price target on FLIR Systems from $60.00 to $62.00 and gave the company a buy rating in a research report on Thursday, July 26th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the company. The stock presently has a consensus rating of Hold and a consensus price target of $58.17.

FLIR opened at $47.36 on Wednesday. FLIR Systems has a 12-month low of $45.00 and a 12-month high of $63.88. The company has a current ratio of 4.21, a quick ratio of 2.85 and a debt-to-equity ratio of 0.22. The stock has a market cap of $6.55 billion, a P/E ratio of 25.19 and a beta of 1.10.

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

The business also recently declared a quarterly dividend, which will be paid on Friday, December 7th. Shareholders of record on Friday, November 23rd will be given a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 1.35%. FLIR Systems’s dividend payout ratio is currently 34.04%.

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

A number of hedge funds have recently bought and sold shares of FLIR. American Century Companies Inc. purchased a new position in shares of FLIR Systems in the 3rd quarter valued at about $9,810,000. Smith Asset Management Group LP purchased a new position in shares of FLIR Systems in the 3rd quarter valued at about $9,548,000. Zions Bancorporation purchased a new position in shares of FLIR Systems in the 3rd quarter valued at about $130,000. Financial Engines Advisors L.L.C. increased its holdings in shares of FLIR Systems by 71.3% in the 3rd quarter. Financial Engines Advisors L.L.C. now owns 3,956 shares of the scientific and technical instruments company’s stock valued at $243,000 after acquiring an additional 1,646 shares during the last quarter. Finally, Rockefeller Capital Management L.P. increased its holdings in shares of FLIR Systems by 19.0% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 10,523 shares of the scientific and technical instruments company’s stock valued at $647,000 after acquiring an additional 1,677 shares during the last quarter. 90.58% of the stock is currently owned by institutional investors.

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.

Featured Article: Hedge Funds Explained

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for FLIR Systems (NASDAQ:FLIR)

Receive News & Ratings for FLIR Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for FLIR Systems and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply