FLIR Systems, Inc. (NASDAQ:FLIR) had its price objective boosted by Raymond James Financial, Inc. to $60.00 in a report published on Wednesday. The brokerage currently has a strong-buy rating on the scientific and technical instruments company’s stock.
Several other research firms also recently weighed in on FLIR. BidaskClub downgraded shares of FLIR Systems from a hold rating to a sell rating in a research note on Monday, July 31st. Robert W. Baird reaffirmed a hold rating and set a $34.00 price target on shares of FLIR Systems in a research note on Tuesday. Needham & Company LLC lifted their price target on shares of FLIR Systems from $40.00 to $42.00 and gave the company a buy rating in a research note on Wednesday, September 6th. Stephens started coverage on shares of FLIR Systems in a research note on Friday, July 7th. They set an overweight rating for the company. Finally, Zacks Investment Research raised shares of FLIR Systems from a hold rating to a buy rating and set a $43.00 price target for the company in a research note on Thursday, July 27th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, two have given a buy rating and three have given a strong buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus target price of $46.33.
FLIR Systems (FLIR) traded up 2.58% on Wednesday, reaching $47.72. The company’s stock had a trading volume of 2,785,119 shares. The firm has a 50-day moving average of $40.83 and a 200-day moving average of $37.93. The company has a market capitalization of $6.55 billion, a PE ratio of 30.77 and a beta of 0.60. FLIR Systems has a one year low of $31.81 and a one year high of $48.06.
FLIR Systems (NASDAQ:FLIR) last announced its earnings results on Wednesday, October 25th. The scientific and technical instruments company reported $0.52 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.48 by $0.04. FLIR Systems had a return on equity of 13.97% and a net margin of 12.44%. The business 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 earnings per share. The company’s revenue for the quarter was up 14.7% compared to the same quarter last year. Analysts predict that FLIR Systems will post $1.86 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 8th. Stockholders of record on Friday, November 24th will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 1.29%. FLIR Systems’s dividend payout ratio is presently 38.46%.
In related news, COO Thomas A. Surran sold 261,320 shares of the business’s stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $38.25, for a total value of $9,995,490.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Earl R. Lewis sold 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 16th. The stock was sold at an average price of $38.22, for a total transaction of $764,400.00. Following the completion of the transaction, the director now directly owns 509,379 shares of the company’s stock, valued at approximately $19,468,465.38. The disclosure for this sale can be found here. Insiders sold 292,907 shares of company stock valued at $11,191,737 in the last three months. 3.00% of the stock is currently owned by insiders.
Large investors have recently modified their holdings of the stock. Commonwealth Bank of Australia raised its stake in FLIR Systems by 14.0% in the second quarter. Commonwealth Bank of Australia now owns 3,250 shares of the scientific and technical instruments company’s stock worth $111,000 after buying an additional 400 shares in the last quarter. Acrospire Investment Management LLC bought a new position in FLIR Systems in the second quarter worth approximately $116,000. ETF Managers Group LLC bought a new position in FLIR Systems in the second quarter worth approximately $171,000. OppenheimerFunds Inc. bought a new position in FLIR Systems in the first quarter worth approximately $203,000. Finally, Koch Industries Inc. bought a new position in FLIR Systems in the second quarter worth approximately $214,000. 91.16% of the stock is owned by institutional investors.
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.