FLIR Systems (NASDAQ:FLIR) Stock Rating Reaffirmed by Needham & Company LLC

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Needham & Company LLC restated their buy rating on shares of FLIR Systems (NASDAQ:FLIR) in a research report report published on Monday, March 12th, Marketbeat.com reports. They currently have a $58.00 price objective on the scientific and technical instruments company’s stock, up from their prior price objective of $56.00.

Several other research analysts also recently commented on the company. Zacks Investment Research downgraded FLIR Systems from a buy rating to a hold rating in a report on Thursday, November 16th. ValuEngine downgraded FLIR Systems from a buy rating to a hold rating in a research note on Friday, December 1st. SunTrust Banks raised FLIR Systems from a hold rating to a buy rating and set a $43.00 price target for the company in a research report on Monday, January 8th. Stephens set a $59.00 price objective on FLIR Systems and gave the company a buy rating in a report on Friday, February 16th. Finally, BidaskClub upgraded FLIR Systems from a hold rating to a buy rating in a research note on Saturday, March 3rd. Three investment analysts have rated the stock with a hold rating, four have issued a buy rating and three have assigned a strong buy rating to the company’s stock. The stock has an average rating of Buy and a consensus price target of $51.86.

FLIR stock traded down $1.09 during trading on Monday, reaching $50.19. The stock had a trading volume of 850,192 shares, compared to its average volume of 1,055,156. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.57 and a current ratio of 3.51. The company has a market cap of $7,047.40, a price-to-earnings ratio of 26.65 and a beta of 0.68. FLIR Systems has a 52 week low of $33.95 and a 52 week high of $52.88.

FLIR Systems (NASDAQ:FLIR) last released its earnings results on Wednesday, February 14th. The scientific and technical instruments company reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.55 by $0.03. The firm had revenue of $494.80 million during the quarter, compared to analysts’ expectations of $501.44 million. FLIR Systems had a return on equity of 14.54% and a net margin of 5.96%. The firm’s revenue was up 4.2% on a year-over-year basis. During the same quarter last year, the business posted $0.48 earnings per share. equities analysts predict that FLIR Systems will post 2.1 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 9th. Shareholders of record on Friday, February 23rd were issued a dividend of $0.16 per share. This is a positive change from FLIR Systems’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Thursday, February 22nd. This represents a $0.64 annualized dividend and a dividend yield of 1.28%. FLIR Systems’s dividend payout ratio (DPR) is presently 34.04%.

Several institutional investors and hedge funds have recently made changes to their positions in the company. AustralianSuper Pty Ltd acquired a new stake in FLIR Systems in the third quarter valued at about $82,147,000. Permian Investment Partners LP purchased a new position in shares of FLIR Systems during the 3rd quarter worth approximately $59,964,000. Millennium Management LLC increased its stake in shares of FLIR Systems by 165.4% during the 4th quarter. Millennium Management LLC now owns 2,230,146 shares of the scientific and technical instruments company’s stock worth $103,969,000 after purchasing an additional 1,389,832 shares in the last quarter. Segall Bryant & Hamill LLC increased its stake in shares of FLIR Systems by 140.8% during the 4th quarter. Segall Bryant & Hamill LLC now owns 1,730,541 shares of the scientific and technical instruments company’s stock worth $80,678,000 after purchasing an additional 1,011,871 shares in the last quarter. Finally, Carillon Tower Advisers Inc. purchased a new stake in FLIR Systems in the 4th quarter worth approximately $28,806,000. Institutional investors and hedge funds own 92.94% of the company’s stock.

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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.

Analyst Recommendations for FLIR Systems (NASDAQ:FLIR)

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