FLIR Systems (FLIR) Downgraded by Imperial Capital to In-Line

FLIR Systems (NASDAQ:FLIR) was downgraded by stock analysts at Imperial Capital from an “outperform” rating to an “in-line” rating in a note issued to investors on Friday.

Other equities analysts also recently issued reports about the company. BidaskClub upgraded FLIR Systems from a “hold” rating to a “buy” rating in a report on Saturday, September 1st. Zacks Investment Research upgraded FLIR Systems from a “hold” rating to a “buy” rating and set a $60.00 price target for the company in a report on Monday, July 23rd. Needham & Company LLC raised their price target on FLIR Systems from $60.00 to $62.00 and gave the company a “buy” rating in a report on Thursday, July 26th. Seaport Global Securities restated a “buy” rating and set a $66.00 price target on shares of FLIR Systems in a report on Thursday, July 26th. Finally, William Blair upgraded FLIR Systems from a “market perform” rating to an “outperform” rating in a report on Monday, August 20th. Five analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $56.75.

Shares of NASDAQ:FLIR opened at $55.86 on Friday. FLIR Systems has a 1-year low of $43.06 and a 1-year high of $63.88. The company has a quick ratio of 2.85, a current ratio of 4.07 and a debt-to-equity ratio of 0.23. The firm has a market cap of $7.83 billion, a PE ratio of 29.71 and a beta of 0.68.

FLIR Systems (NASDAQ:FLIR) last issued its quarterly earnings results on Wednesday, July 25th. The scientific and technical instruments company reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.49 by $0.06. FLIR Systems had a return on equity of 16.44% and a net margin of 6.70%. The firm had revenue of $452.70 million during the quarter, compared to the consensus estimate of $429.12 million. During the same period last year, the company earned $0.42 earnings per share. The company’s revenue was up 4.3% on a year-over-year basis. On average, sell-side analysts predict that FLIR Systems will post 2.22 EPS for the current fiscal year.

In related news, VP Jeffrey Frank sold 42,912 shares of FLIR Systems stock in a transaction dated Friday, September 7th. The stock was sold at an average price of $62.19, for a total value of $2,668,697.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Todd M. Duchene sold 1,000 shares of FLIR Systems stock in a transaction dated Monday, October 15th. The stock was sold at an average price of $55.63, for a total value of $55,630.00. The disclosure for this sale can be found here. Insiders sold a total of 130,420 shares of company stock valued at $7,927,485 over the last quarter. 2.00% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Summit Trail Advisors LLC increased its holdings in FLIR Systems by 3,042.2% in the 1st quarter. Summit Trail Advisors LLC now owns 103,536 shares of the scientific and technical instruments company’s stock worth $104,000 after buying an additional 100,241 shares in the last quarter. Fort L.P. bought a new stake in FLIR Systems in the 2nd quarter worth about $117,000. OLD Mutual Customised Solutions Proprietary Ltd. bought a new stake in FLIR Systems in the 2nd quarter worth about $130,000. Cerebellum GP LLC bought a new stake in FLIR Systems in the 2nd quarter worth about $172,000. Finally, Almanack Investment Partners LLC. bought a new stake in FLIR Systems in the 2nd quarter worth about $185,000. Institutional investors own 90.64% of the company’s stock.

About FLIR Systems

FLIR Systems, Inc designs, develops, manufactures, and markets thermal imaging systems, visible-light imaging systems, locater systems, measurement and diagnostic systems, and threat-detection solutions worldwide. The company operates in six segments: Surveillance, Instruments, Security, OEM & Emerging Markets, Maritime, and Detection.

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