FLIR Systems (FLIR) Upgraded to Outperform at Imperial Capital

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Imperial Capital upgraded shares of FLIR Systems (NASDAQ:FLIR) from an in-line rating to an outperform rating in a report released on Wednesday, Benzinga reports. Imperial Capital currently has $57.00 price target on the scientific and technical instruments company’s stock, up from their previous price target of $56.00. Imperial Capital also issued estimates for FLIR Systems’ Q2 2019 earnings at $0.61 EPS, Q3 2019 earnings at $0.62 EPS, Q4 2019 earnings at $0.66 EPS, FY2019 earnings at $2.42 EPS, Q1 2020 earnings at $0.58 EPS, Q2 2020 earnings at $0.68 EPS, Q4 2020 earnings at $0.77 EPS and FY2020 earnings at $2.72 EPS.

Other analysts have also issued research reports about the company. SunTrust Banks lifted their price objective on FLIR Systems to $60.00 and gave the stock a buy rating in a report on Thursday, February 14th. They noted that the move was a valuation call. ValuEngine raised FLIR Systems from a hold rating to a buy rating in a report on Wednesday, February 13th. BidaskClub raised FLIR Systems from a hold rating to a buy rating in a report on Tuesday, February 12th. Zacks Investment Research raised FLIR Systems from a sell rating to a hold rating in a report on Thursday, February 14th. Finally, Raymond James lowered FLIR Systems from a strong-buy rating to an outperform rating in a report on Monday, March 18th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating to the company’s stock. The company currently has a consensus rating of Buy and an average target price of $62.43.

Shares of NASDAQ:FLIR opened at $49.35 on Wednesday. FLIR Systems has a 1-year low of $40.52 and a 1-year high of $63.88. The company has a market cap of $6.68 billion, a PE ratio of 22.23 and a beta of 1.13. The company has a current ratio of 2.45, a quick ratio of 1.61 and a debt-to-equity ratio of 0.35.

FLIR Systems (NASDAQ:FLIR) last announced its quarterly earnings data on Wednesday, April 24th. The scientific and technical instruments company reported $0.53 earnings per share for the quarter, topping the Thomson Reuters’ 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 for the quarter, compared to analyst estimates of $440.98 million. During the same quarter last year, the firm earned $0.48 EPS. FLIR Systems’s revenue for the quarter was up 1.2% compared to the same quarter last year. Research analysts expect that FLIR Systems will post 2.35 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Friday, May 24th will be paid a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 1.38%. The ex-dividend date of this dividend is Thursday, May 23rd. FLIR Systems’s dividend payout ratio is 30.63%.

In related news, SVP Todd M. Duchene sold 8,544 shares of the business’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $50.33, for a total value of $430,019.52. Following the sale, the senior vice president now owns 24,526 shares of the company’s stock, valued at approximately $1,234,393.58. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Earl R. Lewis sold 132,100 shares of the business’s stock in a transaction on Tuesday, February 26th. The shares were sold at an average price of $52.11, for a total value of $6,883,731.00. Following the completion of the sale, the director now directly owns 635,487 shares in the company, valued at approximately $33,115,227.57. The disclosure for this sale can be found here. In the last ninety days, insiders sold 348,899 shares of company stock worth $18,010,392. 2.00% of the stock is owned by insiders.

Hedge funds have recently made changes to their positions in the stock. Norges Bank bought a new position in FLIR Systems in the 4th quarter valued at $57,122,000. D. E. Shaw & Co. Inc. raised its position in FLIR Systems by 67.1% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 1,660,531 shares of the scientific and technical instruments company’s stock valued at $72,300,000 after purchasing an additional 667,024 shares during the last quarter. Argent Capital Management LLC raised its position in FLIR Systems by 122.7% in the 1st quarter. Argent Capital Management LLC now owns 1,145,129 shares of the scientific and technical instruments company’s stock valued at $54,485,000 after purchasing an additional 630,869 shares during the last quarter. King Luther Capital Management Corp raised its position in FLIR Systems by 72.6% in the 4th quarter. King Luther Capital Management Corp now owns 1,118,637 shares of the scientific and technical instruments company’s stock valued at $48,705,000 after purchasing an additional 470,501 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its position in FLIR Systems by 9.5% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 3,382,669 shares of the scientific and technical instruments company’s stock valued at $147,281,000 after purchasing an additional 292,141 shares during the last quarter. 89.91% of the stock is currently owned by institutional investors and hedge funds.

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.

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Analyst Recommendations for FLIR Systems (NASDAQ:FLIR)

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