FLIR Systems (NASDAQ:FLIR) was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating in a research note issued to investors on Wednesday.

Other equities analysts have also issued research reports about the company. Needham & Company LLC cut their price target on FLIR Systems from $62.00 to $60.00 and set a “buy” rating on the stock in a research note on Thursday, November 1st. ValuEngine lowered FLIR Systems from a “buy” rating to a “hold” rating in a research note on Wednesday, October 31st. Zacks Investment Research lowered FLIR Systems from a “buy” rating to a “hold” rating in a research note on Monday, October 22nd. Imperial Capital lowered FLIR Systems from an “outperform” rating to an “in-line” rating in a research note on Friday, October 19th. Finally, Raymond James cut their price target on FLIR Systems from $70.00 to $65.00 and set a “strong-buy” rating on the stock in a research note on Friday, January 11th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. FLIR Systems presently has a consensus rating of “Hold” and an average price target of $61.83.

Shares of FLIR stock traded up $0.09 during trading hours on Wednesday, hitting $44.10. 1,112,100 shares of the company’s stock were exchanged, compared to its average volume of 1,049,045. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.04 and a current ratio of 4.21. The stock has a market capitalization of $6.14 billion, a PE ratio of 23.46 and a beta of 1.02. FLIR Systems has a 52 week low of $40.52 and a 52 week high of $63.88.

FLIR Systems (NASDAQ:FLIR) last announced its earnings results on Tuesday, October 30th. The scientific and technical instruments company reported $0.57 EPS for the quarter, hitting the consensus estimate of $0.57. The company had revenue of $434.89 million for the quarter, compared to analysts’ expectations of $445.46 million. FLIR Systems had a return on equity of 16.74% and a net margin of 7.33%. The business’s revenue for the quarter was down 6.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.52 earnings per share. As a group, analysts forecast that FLIR Systems will post 2.21 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently modified their holdings of FLIR. Cardinal Capital Management lifted its stake in FLIR Systems by 2.2% in the fourth quarter. Cardinal Capital Management now owns 16,889 shares of the scientific and technical instruments company’s stock valued at $735,000 after buying an additional 360 shares during the period. CENTRAL TRUST Co lifted its stake in FLIR Systems by 4.9% in the third quarter. CENTRAL TRUST Co now owns 22,510 shares of the scientific and technical instruments company’s stock valued at $1,384,000 after buying an additional 1,055 shares during the period. Toronto Dominion Bank lifted its stake in FLIR Systems by 1.4% in the third quarter. Toronto Dominion Bank now owns 89,623 shares of the scientific and technical instruments company’s stock valued at $5,507,000 after buying an additional 1,242 shares during the period. Almanack Investment Partners LLC. lifted its stake in FLIR Systems by 35.9% in the third quarter. Almanack Investment Partners LLC. now owns 4,838 shares of the scientific and technical instruments company’s stock valued at $237,000 after buying an additional 1,277 shares during the period. Finally, Pacer Advisors Inc. lifted its stake in FLIR Systems by 23.9% in the third quarter. Pacer Advisors Inc. now owns 7,437 shares of the scientific and technical instruments company’s stock valued at $457,000 after buying an additional 1,435 shares during the period. 90.82% of the stock is currently owned by institutional investors and hedge funds.

FLIR Systems Company Profile

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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Analyst Recommendations for FLIR Systems (NASDAQ:FLIR)

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