FLIR Systems (NASDAQ:FLIR) Downgraded by BidaskClub to Hold

BidaskClub downgraded shares of FLIR Systems (NASDAQ:FLIR) from a buy rating to a hold rating in a report published on Thursday, BidAskClub reports.

Other equities research analysts also recently issued reports about the stock. Imperial Capital raised shares of FLIR Systems from an in-line rating to an outperform rating and upped their price target for the company from $56.00 to $57.00 in a report on Wednesday, May 22nd. ValuEngine downgraded shares of Zumiez from a hold rating to a sell rating in a report on Tuesday, July 2nd. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and an average price target of $62.43.

Shares of NASDAQ FLIR opened at $54.05 on Thursday. FLIR Systems has a twelve month low of $40.52 and a twelve month high of $63.88. 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 has a market cap of $7.32 billion, a P/E ratio of 24.35 and a beta of 1.18. The firm has a 50-day simple moving average of $52.62.

FLIR Systems (NASDAQ:FLIR) last issued its quarterly earnings results on Wednesday, April 24th. The scientific and technical instruments company reported $0.53 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.48 by $0.05. FLIR Systems had a net margin of 17.13% and a return on equity of 16.84%. The company had revenue of $444.70 million during the quarter, compared to the consensus estimate of $440.98 million. During the same period in the prior year, the company earned $0.48 EPS. FLIR Systems’s revenue was up 1.2% on a year-over-year basis. On average, sell-side analysts anticipate that FLIR Systems will post 2.37 EPS for the current year.

In other FLIR Systems news, Director Earl R. Lewis sold 23,116 shares of the business’s stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $51.33, for a total transaction of $1,186,544.28. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Steven E. Wynne sold 10,000 shares of the business’s stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $52.53, for a total value of $525,300.00. Following the sale, the director now owns 484,031 shares in the company, valued at approximately $25,426,148.43. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 65,121 shares of company stock worth $3,358,586. Corporate insiders own 2.00% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Osborn Williams & Donohoe LLC acquired a new stake in FLIR Systems during the 1st quarter worth about $39,000. CSat Investment Advisory L.P. raised its holdings in FLIR Systems by 147.2% during the 4th quarter. CSat Investment Advisory L.P. now owns 964 shares of the scientific and technical instruments company’s stock worth $42,000 after buying an additional 574 shares during the period. Truvestments Capital LLC acquired a new stake in FLIR Systems during the 1st quarter worth about $59,000. Bessemer Group Inc. increased its holdings in shares of FLIR Systems by 18.2% in the 4th quarter. Bessemer Group Inc. now owns 1,454 shares of the scientific and technical instruments company’s stock valued at $63,000 after purchasing an additional 224 shares during the period. Finally, Quadrant Capital Group LLC increased its holdings in shares of FLIR Systems by 340.6% in the 1st quarter. Quadrant Capital Group LLC now owns 1,542 shares of the scientific and technical instruments company’s stock valued at $69,000 after purchasing an additional 1,192 shares during the period. Hedge funds and other institutional investors own 90.44% 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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Analyst Recommendations for FLIR Systems (NASDAQ:FLIR)

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