Needham & Company LLC Increases Flir Systems Inc. (FLIR) Price Target to $40.00
Flir Systems Inc. (NASDAQ:FLIR) had its price target increased by research analysts at Needham & Company LLC from $36.00 to $40.00 in a report released on Thursday. The brokerage currently has a “buy” rating on the stock. Needham & Company LLC’s price objective would suggest a potential upside of 11.33% from the stock’s current price.
Several other brokerages have also issued reports on FLIR. Zacks Investment Research lowered shares of Flir Systems from a “buy” rating to a “hold” rating in a research note on Friday, October 28th. Imperial Capital decreased their price target on shares of Flir Systems from $40.00 to $36.00 and set an “outperform” rating for the company in a research note on Friday, November 4th. Drexel Hamilton reiterated a “buy” rating and issued a $36.00 price target on shares of Flir Systems in a research note on Monday, October 3rd. Robert W. Baird assumed coverage on shares of Flir Systems in a research note on Wednesday, October 5th. They issued a “neutral” rating and a $34.00 price target for the company. Finally, Seaport Global Securities assumed coverage on shares of Flir Systems in a research note on Friday, October 7th. They issued a “buy” rating and a $36.00 price target for the company. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $36.10.
Flir Systems (NASDAQ:FLIR) opened at 35.91 on Thursday. The firm has a 50-day moving average of $32.38 and a 200-day moving average of $31.50. Flir Systems has a 1-year low of $26.48 and a 1-year high of $35.97. The stock has a market capitalization of $4.89 billion, a PE ratio of 28.23 and a beta of 0.49.
Flir Systems (NASDAQ:FLIR) last posted its earnings results on Wednesday, October 26th. The company reported $0.43 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.43. Flir Systems had a net margin of 10.79% and a return on equity of 12.80%. The firm earned $405.20 million during the quarter, compared to analysts’ expectations of $161.36 million. During the same period last year, the company posted $0.40 EPS. The company’s quarterly revenue was up 6.1% compared to the same quarter last year. Equities analysts expect that Flir Systems will post $1.61 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 2nd. Stockholders of record on Friday, November 18th will be paid a $0.12 dividend. The ex-dividend date is Wednesday, November 16th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.34%. Flir Systems’s dividend payout ratio is presently 37.50%.
WARNING: “Needham & Company LLC Increases Flir Systems Inc. (FLIR) Price Target to $40.00” was first published by Financial Market News and is owned by of Financial Market News. If you are reading this report on another website, it was stolen and republished in violation of US & international copyright legislation. The original version of this report can be accessed at http://www.financial-market-news.com/needham-company-llc-increases-flir-systems-inc-flir-price-target-to-40-00/1212538/.
In other news, Director Angus L. Macdonald sold 20,000 shares of Flir Systems stock in a transaction that occurred on Wednesday, November 2nd. The shares were sold at an average price of $32.86, for a total value of $657,200.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Earl R. Lewis sold 52,000 shares of Flir Systems stock in a transaction that occurred on Thursday, November 3rd. The stock was sold at an average price of $32.40, for a total transaction of $1,684,800.00. The disclosure for this sale can be found here. 3.00% of the stock is currently owned by insiders.
Several hedge funds have recently made changes to their positions in the company. Legal & General Group Plc raised its stake in shares of Flir Systems by 11.4% in the first quarter. Legal & General Group Plc now owns 113,952 shares of the company’s stock worth $3,756,000 after buying an additional 11,700 shares in the last quarter. Pensionfund Sabic acquired a new position in Flir Systems during the second quarter worth about $1,526,000. Pensionfund DSM Netherlands acquired a new position in Flir Systems during the second quarter worth about $3,324,000. Thompson Rubinstein Investment Management Inc. OR increased its position in Flir Systems by 72.9% in the second quarter. Thompson Rubinstein Investment Management Inc. OR now owns 85,928 shares of the company’s stock worth $2,659,000 after buying an additional 36,224 shares during the last quarter. Finally, Exxonmobil Investment Management Inc. TX increased its position in Flir Systems by 6.4% in the second quarter. Exxonmobil Investment Management Inc. TX now owns 35,626 shares of the company’s stock worth $1,103,000 after buying an additional 2,134 shares during the last quarter. Hedge funds and other institutional investors own 89.20% of the company’s stock.
Flir Systems Company Profile
FLIR Systems, Inc (FLIR) designs, develops, markets and distributes thermal imaging systems, visible-light imaging systems, locater systems, measurement and diagnostic systems and advanced threat-detection solutions. The Company’s segments include Surveillance, Instruments, Security, OEM & Emerging Markets, Maritime and Detection.
Receive News & Ratings for Flir Systems Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Flir Systems Inc. and related companies with MarketBeat.com's FREE daily email newsletter.