FLIR Systems (NASDAQ:FLIR) Lowered to Hold at ValuEngine

FLIR Systems (NASDAQ:FLIR) was downgraded by investment analysts at ValuEngine from a “buy” rating to a “hold” rating in a research note issued on Wednesday, July 24th, ValuEngine reports.

A number of other research analysts have also recently issued reports on the company. BidaskClub cut FLIR Systems from a “buy” rating to a “hold” rating in a report on Thursday, July 18th. Imperial Capital raised FLIR Systems from an “in-line” rating to an “outperform” rating and lifted their price target for the company from $56.00 to $57.00 in a report on Wednesday, May 22nd. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $60.50.

Shares of NASDAQ FLIR traded up $0.82 during midday trading on Wednesday, reaching $46.98. 460,700 shares of the company traded hands, compared to its average volume of 1,065,106. The firm has a market cap of $6.22 billion, a PE ratio of 21.16 and a beta of 1.17. The stock’s 50-day simple moving average is $51.65 and its 200-day simple moving average is $50.70. FLIR Systems has a 12 month low of $40.52 and a 12 month high of $63.88. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.61 and a current ratio of 2.47.

FLIR Systems (NASDAQ:FLIR) last issued its quarterly earnings data on Wednesday, July 24th. The scientific and technical instruments company reported $0.56 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.55 by $0.01. The company had revenue of $482.00 million during the quarter, compared to analysts’ expectations of $478.42 million. FLIR Systems had a return on equity of 16.56% and a net margin of 15.44%. The business’s revenue was up 6.4% on a year-over-year basis. During the same period last year, the business earned $0.55 earnings per share. On average, equities research analysts expect that FLIR Systems will post 2.34 EPS for the current year.

A number of hedge funds have recently made changes to their positions in FLIR. Norges Bank acquired a new stake in FLIR Systems in the fourth quarter worth about $57,122,000. Bank of New York Mellon Corp increased its position in FLIR Systems by 45.5% in the second quarter. Bank of New York Mellon Corp now owns 3,311,826 shares of the scientific and technical instruments company’s stock worth $179,171,000 after purchasing an additional 1,036,120 shares during the period. JPMorgan Chase & Co. increased its position in FLIR Systems by 336.1% in the second quarter. JPMorgan Chase & Co. now owns 1,331,599 shares of the scientific and technical instruments company’s stock worth $71,108,000 after purchasing an additional 1,026,228 shares during the period. Nuveen Asset Management LLC acquired a new stake in FLIR Systems in the second quarter worth about $36,628,000. Finally, Argent Capital Management LLC increased its position in FLIR Systems by 122.7% in the first quarter. Argent Capital Management LLC now owns 1,145,129 shares of the scientific and technical instruments company’s stock worth $54,485,000 after purchasing an additional 630,869 shares during the period. Hedge funds and other institutional investors own 90.92% of the company’s stock.

FLIR Systems Company Profile

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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