Berenberg Bank assumed coverage on shares of FLIR Systems (NASDAQ:FLIR) in a research note released on Friday morning, The Fly reports. The brokerage issued a buy rating and a $60.00 price objective on the scientific and technical instruments company’s stock.
Several other research analysts have also commented on the stock. BidaskClub raised shares of FLIR Systems from a hold rating to a buy rating in a report on Friday, August 30th. Imperial Capital raised shares of FLIR Systems from an in-line rating to an outperform rating and boosted their price objective for the company from $56.00 to $57.00 in a research report on Wednesday, May 22nd. Finally, ValuEngine lowered shares of FLIR Systems from a buy rating to a hold rating in a research note on Wednesday, July 24th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The company has an average rating of Buy and a consensus target price of $60.40.
Shares of FLIR opened at $51.47 on Friday. The business’s fifty day moving average price is $48.96 and its 200 day moving average price is $50.48. FLIR Systems has a 12-month low of $40.52 and a 12-month high of $63.88. The stock has a market capitalization of $6.92 billion, a PE ratio of 22.38 and a beta of 1.17. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.47 and a quick ratio of 1.61.
FLIR Systems (NASDAQ:FLIR) last released its earnings results on Wednesday, July 24th. The scientific and technical instruments company reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.55 by $0.01. FLIR Systems had a net margin of 15.44% and a return on equity of 16.56%. The firm had revenue of $482.00 million during the quarter, compared to analyst estimates of $478.42 million. The firm’s revenue for the quarter was up 6.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.55 earnings per share. As a group, research analysts anticipate that FLIR Systems will post 2.34 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 6th. Investors of record on Friday, August 23rd were given a dividend of $0.17 per share. The ex-dividend date of this dividend was Thursday, August 22nd. This represents a $0.68 dividend on an annualized basis and a yield of 1.32%. FLIR Systems’s dividend payout ratio is currently 30.63%.
Institutional investors and hedge funds have recently modified their holdings of the stock. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its position in shares of FLIR Systems by 145.0% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 63,413 shares of the scientific and technical instruments company’s stock valued at $3,431,000 after purchasing an additional 37,532 shares during the period. Toronto Dominion Bank boosted its stake in FLIR Systems by 157.5% in the 2nd quarter. Toronto Dominion Bank now owns 228,016 shares of the scientific and technical instruments company’s stock worth $12,335,000 after purchasing an additional 139,449 shares during the period. Atria Investments LLC grew its position in FLIR Systems by 23.3% during the 2nd quarter. Atria Investments LLC now owns 35,622 shares of the scientific and technical instruments company’s stock worth $1,658,000 after purchasing an additional 6,739 shares in the last quarter. BlackRock Inc. grew its position in FLIR Systems by 0.7% during the 2nd quarter. BlackRock Inc. now owns 9,906,385 shares of the scientific and technical instruments company’s stock worth $535,933,000 after purchasing an additional 66,304 shares in the last quarter. Finally, Vestmark Advisory Solutions Inc. raised its stake in FLIR Systems by 20.2% during the 2nd quarter. Vestmark Advisory Solutions Inc. now owns 23,676 shares of the scientific and technical instruments company’s stock valued at $1,281,000 after purchasing an additional 3,987 shares during the period. Hedge funds and other institutional investors own 91.07% 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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