FLIR Systems (FLIR) Upgraded to Outperform at Imperial Capital
Imperial Capital upgraded shares of FLIR Systems (NASDAQ:FLIR) from an in-line rating to an outperform rating in a research report sent to investors on Wednesday morning, Benzinga reports. Imperial Capital currently has $57.00 price objective on the scientific and technical instruments company’s stock, up from their previous price objective of $56.00. Imperial Capital also issued estimates for FLIR Systems’ Q2 2019 earnings at $0.61 EPS, Q3 2019 earnings at $0.62 EPS, Q4 2019 earnings at $0.66 EPS, FY2019 earnings at $2.42 EPS, Q1 2020 earnings at $0.58 EPS, Q2 2020 earnings at $0.68 EPS, Q4 2020 earnings at $0.77 EPS and FY2020 earnings at $2.72 EPS.
Other equities analysts have also issued research reports about the company. BidaskClub lowered FLIR Systems from a hold rating to a sell rating in a research report on Wednesday. ValuEngine upgraded FLIR Systems from a hold rating to a buy rating in a research report on Wednesday, February 13th. SunTrust Banks increased their price target on FLIR Systems to $60.00 and gave the company a buy rating in a research report on Thursday, February 14th. They noted that the move was a valuation call. Robert W. Baird upgraded FLIR Systems from a neutral rating to an outperform rating in a research report on Friday, January 25th. Finally, Zacks Investment Research upgraded FLIR Systems from a sell rating to a hold rating in a research report on Tuesday, January 29th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have given a buy rating to the company. The company presently has an average rating of Buy and an average price target of $62.43.
Shares of FLIR stock opened at $49.35 on Wednesday. FLIR Systems has a fifty-two week low of $40.52 and a fifty-two week high of $63.88. The stock has a market cap of $6.68 billion, a P/E ratio of 22.23 and a beta of 1.13. The company has a quick ratio of 1.61, a current ratio of 2.45 and a debt-to-equity ratio of 0.35.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Shareholders of record on Friday, May 24th will be given a dividend of $0.17 per share. The ex-dividend date of this dividend is Thursday, May 23rd. This represents a $0.68 dividend on an annualized basis and a yield of 1.38%. FLIR Systems’s payout ratio is presently 30.63%.
In other FLIR Systems news, Director Steven E. Wynne sold 10,000 shares of the firm’s stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $52.53, for a total transaction of $525,300.00. Following the completion of the sale, the director now directly owns 484,031 shares in the company, valued at approximately $25,426,148.43. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Todd M. Duchene sold 7,566 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $50.61, for a total value of $382,915.26. Following the sale, the senior vice president now owns 28,070 shares of the company’s stock, valued at $1,420,622.70. The disclosure for this sale can be found here. Insiders have sold a total of 348,899 shares of company stock valued at $18,010,392 over the last 90 days. Corporate 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. Cerebellum GP LLC raised its stake in shares of FLIR Systems by 15.3% during the 1st quarter. Cerebellum GP LLC now owns 7,021 shares of the scientific and technical instruments company’s stock worth $334,000 after purchasing an additional 930 shares in the last quarter. Horizon Investments LLC raised its stake in shares of FLIR Systems by 66.5% during the 1st quarter. Horizon Investments LLC now owns 8,150 shares of the scientific and technical instruments company’s stock worth $388,000 after purchasing an additional 3,255 shares in the last quarter. Laurel Wealth Advisors Inc. purchased a new stake in shares of FLIR Systems during the 1st quarter worth about $217,000. Jane Street Group LLC purchased a new stake in shares of FLIR Systems during the 1st quarter worth about $341,000. Finally, BlueCrest Capital Management Ltd purchased a new stake in shares of FLIR Systems during the 1st quarter worth about $500,000. Hedge funds and other institutional investors own 89.91% of the company’s stock.
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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