FLIR Systems (FLIR) Lowered to “In-Line” at Imperial Capital
Several other brokerages also recently issued reports on FLIR. BidaskClub downgraded FLIR Systems from a buy rating to a hold rating in a report on Saturday, July 7th. 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. Zacks Investment Research downgraded FLIR Systems from a hold rating to a sell rating in a report on Wednesday, July 4th. Stephens raised their price target on FLIR Systems from $61.00 to $69.00 and gave the company an overweight rating in a report on Monday, July 30th. Finally, Seaport Global Securities reaffirmed a buy rating and set a $66.00 price target on shares of FLIR Systems in a report on Thursday, July 26th. Five investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of Buy and an average price target of $56.75.
FLIR Systems stock traded down $0.84 during mid-day trading on Friday, hitting $55.86. 631,503 shares of the company’s stock traded hands, compared to its average volume of 707,357. FLIR Systems has a fifty-two week low of $43.06 and a fifty-two week high of $63.88. The company has a market capitalization of $7.83 billion, a price-to-earnings ratio of 29.71 and a beta of 0.68. The company has a debt-to-equity ratio of 0.23, a current ratio of 4.07 and a quick ratio of 2.85.
In other FLIR Systems news, VP Jeffrey Frank sold 42,912 shares of the stock in a transaction on Friday, September 7th. The stock was sold at an average price of $62.19, for a total transaction of $2,668,697.28. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Earl R. Lewis sold 39,508 shares of the stock in a transaction on Friday, July 27th. The stock was sold at an average price of $59.05, for a total value of $2,332,947.40. The disclosure for this sale can be found here. Insiders have sold a total of 130,420 shares of company stock worth $7,927,485 in the last quarter. Company insiders own 2.00% of the company’s stock.
A number of hedge funds have recently bought and sold shares of FLIR. Summit Trail Advisors LLC increased its position in FLIR Systems by 3,042.2% during 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 during the period. Fort L.P. bought a new position in FLIR Systems during the 2nd quarter worth $117,000. OLD Mutual Customised Solutions Proprietary Ltd. bought a new position in FLIR Systems during the 2nd quarter worth $130,000. Cerebellum GP LLC bought a new position in FLIR Systems during the 2nd quarter worth $172,000. Finally, Almanack Investment Partners LLC. bought a new position in FLIR Systems during the 2nd quarter worth $185,000. Hedge funds and other 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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