Flir Systems Inc. (NASDAQ:FLIR) Given Consensus Rating of “Buy” by Analysts
Flir Systems Inc. (NASDAQ:FLIR) has received a consensus recommendation of “Buy” from the eight analysts that are covering the company. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $36.50.
Several research analysts have recently issued reports on the stock. Drexel Hamilton reiterated a “buy” rating on shares of Flir Systems in a research note on Tuesday, May 24th. Zacks Investment Research upgraded shares of Flir Systems from a “sell” rating to a “hold” rating in a research report on Monday, August 1st. Imperial Capital restated an “outperform” rating and set a $40.00 price objective on shares of Flir Systems in a research report on Friday, September 9th. Finally, Raymond James Financial Inc. downgraded shares of Flir Systems from a “strong-buy” rating to an “outperform” rating and set a $36.00 price objective on the stock. in a research report on Monday, July 25th.
In other Flir Systems news, VP Jeffrey Frank sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, September 9th. The shares were sold at an average price of $30.73, for a total transaction of $307,300.00. Following the completion of the sale, the vice president now directly owns 21,769 shares of the company’s stock, valued at $668,961.37. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 3.00% of the company’s stock.
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A number of hedge funds have recently made changes to their positions in FLIR. FIL Ltd acquired a new stake in shares of Flir Systems during the second quarter worth approximately $36,340,000. Norges Bank acquired a new stake in shares of Flir Systems during the fourth quarter worth approximately $32,231,000. JPMorgan Chase & Co. boosted its stake in shares of Flir Systems by 885.8% in the first quarter. JPMorgan Chase & Co. now owns 1,250,862 shares of the company’s stock worth $41,216,000 after buying an additional 1,123,969 shares in the last quarter. Victory Capital Management Inc. boosted its stake in shares of Flir Systems by 37.7% in the second quarter. Victory Capital Management Inc. now owns 2,563,092 shares of the company’s stock worth $79,328,000 after buying an additional 701,405 shares in the last quarter. Finally, Chartwell Investment Partners LLC acquired a new stake in shares of Flir Systems during the second quarter worth approximately $20,335,000. 90.74% of the stock is owned by institutional investors and hedge funds.
Shares of Flir Systems (NASDAQ:FLIR) traded up 0.51% on Wednesday, reaching $31.30. 230,922 shares of the company’s stock traded hands. The stock has a market cap of $4.30 billion, a price-to-earnings ratio of 23.10 and a beta of 0.51. The firm’s 50-day moving average is $31.07 and its 200-day moving average is $31.52. Flir Systems has a 52-week low of $25.12 and a 52-week high of $34.09.
Flir Systems (NASDAQ:FLIR) last issued its earnings results on Wednesday, July 27th. The company reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by $0.01. The firm earned $402.70 million during the quarter, compared to the consensus estimate of $401.56 million. Flir Systems had a return on equity of 12.68% and a net margin of 11.85%. The company’s quarterly revenue was up 2.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.36 EPS. Analysts anticipate that Flir Systems will post $1.61 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 2nd. Shareholders of record on Friday, August 19th were issued a dividend of $0.12 per share. The ex-dividend date was Wednesday, August 17th. This represents a $0.48 dividend on an annualized basis and a yield of 1.54%. Flir Systems’s dividend payout ratio is currently 35.04%.
About Flir Systems
FLIR Systems, Inc (FLIR) designs, develops, markets and distributes thermal imaging systems, visible-light imaging systems, locater systems, measurement and diagnostic systems and advanced threat-detection solutions. The Company’s operating segments include: Surveillance, Instruments, OEM and Emerging Markets, Maritime, Security and Detection.
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