FLIR Systems, Inc. (FLIR) Receives $57.80 Consensus Target Price from Brokerages

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FLIR Systems, Inc. (NASDAQ:FLIR) has earned a consensus recommendation of “Hold” from the ten analysts that are currently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $57.80.

FLIR has been the subject of several recent analyst reports. Zacks Investment Research upgraded 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. Seaport Global Securities reiterated a “buy” rating and issued a $66.00 target price on shares of FLIR Systems in a research note on Thursday, July 26th. Needham & Company LLC upped their target price on shares of FLIR Systems from $60.00 to $62.00 and gave the stock a “buy” rating in a research note on Thursday, July 26th. Stephens upped their target price on shares of FLIR Systems from $61.00 to $69.00 and gave the stock an “overweight” rating in a research note on Monday, July 30th. Finally, Imperial Capital reiterated an “outperform” rating and issued a $60.00 target price (up previously from $53.00) on shares of FLIR Systems in a research note on Wednesday, August 1st.

NASDAQ FLIR opened at $48.45 on Friday. FLIR Systems has a 1 year low of $45.00 and a 1 year high of $63.88. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.21 and a quick ratio of 3.04. The firm has a market capitalization of $6.55 billion, a PE ratio of 25.77 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 net margin of 7.33% and a return on equity of 16.74%. The firm had revenue of $434.89 million during the quarter, compared to analyst estimates of $445.46 million. During the same quarter in the prior year, the business posted $0.52 EPS. The business’s revenue was down 6.4% compared to the same quarter last year. Analysts forecast that FLIR Systems will post 2.21 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 7th. Investors of record on Friday, November 23rd will be given a dividend of $0.16 per share. The ex-dividend date of this dividend is Wednesday, November 21st. This represents a $0.64 annualized dividend and a yield of 1.32%. FLIR Systems’s payout ratio is currently 34.04%.

In related news, Director Earl R. Lewis sold 20,000 shares of the stock in a transaction dated Thursday, August 30th. The shares were sold at an average price of $62.25, for a total transaction of $1,245,000.00. Following the completion of the transaction, the director now owns 503,387 shares in the company, valued at $31,335,840.75. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Todd M. Duchene sold 1,000 shares of the stock in a transaction dated Monday, October 15th. The shares were sold at an average price of $55.63, for a total transaction of $55,630.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 90,912 shares of company stock valued at $5,594,537. 2.00% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of FLIR. A.R.T. Advisors LLC bought a new position in FLIR Systems during the first quarter valued at about $295,000. Jane Street Group LLC bought a new position in FLIR Systems during the first quarter valued at about $451,000. Ladenburg Thalmann Financial Services Inc. grew its position in 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 buying an additional 2,620 shares during the period. Royal Bank of Canada grew its position in 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 buying an additional 14,378 shares during the period. Finally, Principal Financial Group Inc. boosted its position in FLIR Systems by 1.0% during the first quarter. Principal Financial Group Inc. now owns 222,120 shares of the scientific and technical instruments company’s stock worth $11,108,000 after purchasing an additional 2,199 shares during the period. Institutional investors own 90.72% 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.

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Analyst Recommendations for FLIR Systems (NASDAQ:FLIR)

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