FLIR Systems, Inc. (NASDAQ:FLIR) had its target price lifted by SunTrust Banks, Inc. from $37.00 to $43.00 in a research note released on Thursday. They currently have a hold rating on the scientific and technical instruments company’s stock. SunTrust Banks also issued estimates for FLIR Systems’ Q4 2017 earnings at $0.56 EPS, FY2017 earnings at $1.86 EPS, Q1 2018 earnings at $0.46 EPS, Q2 2018 earnings at $0.50 EPS, Q3 2018 earnings at $0.54 EPS, Q4 2018 earnings at $0.64 EPS, FY2018 earnings at $2.15 EPS and FY2019 earnings at $2.34 EPS.
Several other brokerages also recently commented on FLIR. Needham & Company LLC reiterated a buy rating and set a $50.00 price target (up previously from $42.00) on shares of FLIR Systems in a report on Thursday. Zacks Investment Research upgraded FLIR Systems from a hold rating to a strong-buy rating and set a $53.00 price target on the stock in a report on Thursday. Raymond James Financial, Inc. increased their price target on FLIR Systems to $60.00 and gave the company a strong-buy rating in a report on Wednesday, October 25th. Robert W. Baird reiterated a hold rating and set a $34.00 price target on shares of FLIR Systems in a report on Tuesday, October 24th. Finally, BidaskClub upgraded FLIR Systems from a sell rating to a hold rating in a report on Monday, July 17th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, two have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. The stock presently has an average rating of Buy and an average target price of $46.33.
Shares of FLIR Systems (NASDAQ:FLIR) traded down 0.91% on Thursday, reaching $46.74. 1,056,747 shares of the company’s stock were exchanged. The company has a market capitalization of $6.41 billion, a P/E ratio of 30.14 and a beta of 0.60. The firm’s 50 day moving average price is $41.35 and its 200-day moving average price is $38.09. FLIR Systems has a 12 month low of $31.81 and a 12 month high of $48.06.
FLIR Systems (NASDAQ:FLIR) last released its quarterly earnings data on Wednesday, October 25th. The scientific and technical instruments company reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.04. FLIR Systems had a return on equity of 14.30% and a net margin of 12.30%. The firm had revenue of $464.70 million for the quarter, compared to the consensus estimate of $446.06 million. During the same quarter in the prior year, the company posted $0.48 earnings per share. The firm’s revenue was up 14.7% on a year-over-year basis. On average, equities analysts anticipate that FLIR Systems will post $1.86 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 8th. Shareholders of record on Friday, November 24th will be issued a dividend of $0.15 per share. The ex-dividend date of this dividend is Wednesday, November 22nd. This represents a $0.60 annualized dividend and a yield of 1.27%. FLIR Systems’s dividend payout ratio (DPR) is presently 37.74%.
In other news, COO Thomas A. Surran sold 261,320 shares of the stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $38.25, for a total value of $9,995,490.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Earl R. Lewis sold 20,000 shares of the stock in a transaction that occurred on Wednesday, August 16th. The shares were sold at an average price of $38.22, for a total value of $764,400.00. Following the completion of the sale, the director now directly owns 509,379 shares of the company’s stock, valued at $19,468,465.38. The disclosure for this sale can be found here. 3.00% of the stock is currently owned by corporate insiders.
Several institutional investors and hedge funds have recently bought and sold shares of FLIR. Empire Life Investments Inc. boosted its position in shares of FLIR Systems by 0.8% in the first quarter. Empire Life Investments Inc. now owns 719,372 shares of the scientific and technical instruments company’s stock valued at $26,098,000 after acquiring an additional 5,754 shares during the period. OppenheimerFunds Inc. bought a new stake in shares of FLIR Systems in the first quarter valued at approximately $203,000. Principal Financial Group Inc. boosted its position in shares of FLIR Systems by 0.9% in the first quarter. Principal Financial Group Inc. now owns 210,691 shares of the scientific and technical instruments company’s stock valued at $7,644,000 after acquiring an additional 1,926 shares during the period. Wellington Management Group LLP bought a new stake in shares of FLIR Systems in the first quarter valued at approximately $248,000. Finally, Teachers Advisors LLC boosted its position in shares of FLIR Systems by 32.0% in the first quarter. Teachers Advisors LLC now owns 223,789 shares of the scientific and technical instruments company’s stock valued at $8,119,000 after acquiring an additional 54,209 shares during the period. 91.73% of the stock is owned by institutional investors.
About FLIR Systems
FLIR Systems, Inc (FLIR) designs, develops, markets and distributes thermal imaging systems, visible-light imaging systems, locater systems, measurement and diagnostic systems and threat-detection solutions. The Company’s segments include Surveillance, Instruments, Security, OEM & Emerging Markets, Maritime and Detection.
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