FLIR Systems (NASDAQ:FLIR) Upgraded at BidaskClub

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BidaskClub upgraded shares of FLIR Systems (NASDAQ:FLIR) from a buy rating to a strong-buy rating in a research report released on Wednesday, September 18th, BidAskClub reports.

Several other equities research analysts have also recently commented on the company. ValuEngine cut FLIR Systems from a buy rating to a hold rating in a report on Wednesday, July 24th. Berenberg Bank initiated coverage on FLIR Systems in a research note on Friday, September 6th. They set a buy rating and a $60.00 target price for the company. Finally, Imperial Capital raised FLIR Systems from an in-line rating to an outperform rating and raised their target price for the stock from $56.00 to $57.00 in a research note on Wednesday, May 22nd. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus target price of $60.40.

FLIR stock traded up $0.88 during mid-day trading on Wednesday, reaching $52.98. 290,194 shares of the company’s stock were exchanged, compared to its average volume of 750,451. The company has a market cap of $7.04 billion, a price-to-earnings ratio of 23.86 and a beta of 1.16. The stock’s 50 day moving average is $51.22 and its 200 day moving average is $50.80. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.47 and a quick ratio of 1.61. FLIR Systems has a 12-month low of $40.52 and a 12-month high of $57.98.

FLIR Systems (NASDAQ:FLIR) last released its earnings results on Wednesday, July 24th. The scientific and technical instruments company reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.55 by $0.01. FLIR Systems had a return on equity of 16.56% and a net margin of 15.44%. The business had revenue of $482.00 million for the quarter, compared to the consensus estimate of $478.42 million. During the same quarter last year, the business posted $0.55 earnings per share. The business’s quarterly revenue was up 6.4% compared to the same quarter last year. On average, research analysts forecast that FLIR Systems will post 2.34 earnings per share for the current fiscal year.

In related news, VP Brian E. Harding sold 3,625 shares of FLIR Systems stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $52.48, for a total value of $190,240.00. Following the completion of the transaction, the vice president now directly owns 8,876 shares in the company, valued at $465,812.48. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 2.00% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Independent Advisor Alliance lifted its holdings in FLIR Systems by 5.2% during the 2nd quarter. Independent Advisor Alliance now owns 10,362 shares of the scientific and technical instruments company’s stock worth $561,000 after buying an additional 512 shares during the last quarter. Bridges Investment Management Inc. purchased a new stake in shares of FLIR Systems in the 2nd quarter valued at about $441,000. Cramer Rosenthal Mcglynn LLC lifted its holdings in shares of FLIR Systems by 8.3% in the 2nd quarter. Cramer Rosenthal Mcglynn LLC now owns 766,732 shares of the scientific and technical instruments company’s stock valued at $41,480,000 after purchasing an additional 58,807 shares during the last quarter. Natixis Advisors L.P. lifted its holdings in shares of FLIR Systems by 18.5% in the 2nd quarter. Natixis Advisors L.P. now owns 21,425 shares of the scientific and technical instruments company’s stock valued at $1,159,000 after purchasing an additional 3,345 shares during the last quarter. Finally, US Bancorp DE lifted its holdings in shares of FLIR Systems by 4.2% in the 2nd quarter. US Bancorp DE now owns 130,926 shares of the scientific and technical instruments company’s stock valued at $7,083,000 after purchasing an additional 5,334 shares during the last quarter. 90.88% of the stock is owned by institutional investors.

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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