FLIR Systems (FLIR) Upgraded to “Buy” by SunTrust Banks

FLIR Systems (NASDAQ:FLIR) was upgraded by equities research analysts at SunTrust Banks from a “hold” rating to a “buy” rating in a research note issued on Monday, The Fly reports.

Other analysts have also issued research reports about the stock. Zacks Investment Research raised shares of FLIR Systems from a “hold” rating to a “strong-buy” rating and set a $53.00 target price for the company in a report on Thursday, October 26th. Robert W. Baird reaffirmed a “hold” rating and set a $34.00 target price on shares of FLIR Systems in a report on Tuesday, October 24th. Needham & Company LLC reaffirmed a “buy” rating and set a $50.00 target price (up previously from $42.00) on shares of FLIR Systems in a report on Thursday, October 26th. Raymond James Financial lifted their target price on shares of FLIR Systems to $60.00 and gave the stock a “strong-buy” rating in a report on Wednesday, October 25th. Finally, ValuEngine lowered shares of FLIR Systems from a “buy” rating to a “hold” rating in a report on Friday, December 1st. One research analyst has rated the stock with a sell rating, four have issued a hold rating, three have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $46.33.

Shares of FLIR Systems (NASDAQ FLIR) opened at $48.25 on Monday. The company has a current ratio of 3.48, a quick ratio of 2.36 and a debt-to-equity ratio of 0.22. FLIR Systems has a fifty-two week low of $33.75 and a fifty-two week high of $48.43. The company has a market cap of $6,686.21, a price-to-earnings ratio of 30.35 and a beta of 0.63.

FLIR Systems (NASDAQ:FLIR) last released its earnings results on Wednesday, October 25th. The scientific and technical instruments company reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.04. FLIR Systems had a net margin of 12.30% and a return on equity of 14.30%. The firm had revenue of $464.70 million during the quarter, compared to analyst estimates of $446.06 million. During the same quarter in the previous year, the business earned $0.48 EPS. The business’s quarterly revenue was up 14.7% compared to the same quarter last year. equities analysts forecast that FLIR Systems will post 1.86 earnings per share for the current fiscal year.

In related news, VP Brian E. Harding sold 1,836 shares of the business’s stock in a transaction on Monday, October 30th. The shares were sold at an average price of $46.90, for a total value of $86,108.40. Following the sale, the vice president now directly owns 6,646 shares of the company’s stock, valued at approximately $311,697.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Steven E. Wynne sold 11,200 shares of the business’s stock in a transaction on Friday, October 27th. The shares were sold at an average price of $47.34, for a total transaction of $530,208.00. The disclosure for this sale can be found here. Insiders sold a total of 22,036 shares of company stock valued at $1,039,316 in the last three months. 3.00% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of FLIR. CIBC Asset Management Inc lifted its position in FLIR Systems by 0.3% during the 2nd quarter. CIBC Asset Management Inc now owns 11,864 shares of the scientific and technical instruments company’s stock worth $411,000 after buying an additional 31 shares in the last quarter. ING Groep NV lifted its position in FLIR Systems by 0.4% during the 2nd quarter. ING Groep NV now owns 7,610 shares of the scientific and technical instruments company’s stock worth $264,000 after buying an additional 32 shares in the last quarter. Capstone Asset Management Co. lifted its position in FLIR Systems by 0.6% during the 2nd quarter. Capstone Asset Management Co. now owns 8,701 shares of the scientific and technical instruments company’s stock worth $269,000 after buying an additional 50 shares in the last quarter. World Asset Management Inc lifted its position in FLIR Systems by 0.4% during the 2nd quarter. World Asset Management Inc now owns 13,653 shares of the scientific and technical instruments company’s stock worth $423,000 after buying an additional 52 shares in the last quarter. Finally, Tyers Asset Management LLC lifted its position in FLIR Systems by 0.4% during the 1st quarter. Tyers Asset Management LLC now owns 17,664 shares of the scientific and technical instruments company’s stock worth $641,000 after buying an additional 64 shares in the last quarter. 92.94% of the stock is currently owned by institutional investors and hedge funds.

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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 threat-detection solutions. The Company’s segments include Surveillance, Instruments, Security, OEM & Emerging Markets, Maritime and Detection.