FLIR Systems, Inc. (FLIR) Downgraded to Sell at BidaskClub

BidaskClub lowered shares of FLIR Systems, Inc. (NASDAQ:FLIR) from a hold rating to a sell rating in a report published on Tuesday, June 13th.

FLIR has been the subject of several other research reports. Imperial Capital downgraded shares of FLIR Systems from an outperform rating to an in-line rating and set a $38.00 target price for the company. in a research note on Thursday, February 23rd. Needham & Company LLC reiterated a buy rating and set a $40.00 target price on shares of FLIR Systems in a research note on Tuesday, February 21st. Raymond James Financial, Inc. downgraded shares of FLIR Systems from an outperform rating to a market perform rating in a research note on Tuesday, February 14th. Finally, Zacks Investment Research downgraded shares of FLIR Systems from a buy rating to a hold rating in a research report on Tuesday, April 18th. One research analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus price target of $36.63.

Shares of FLIR Systems (NASDAQ FLIR) traded down 0.31% during mid-day trading on Tuesday, hitting $35.55. The stock had a trading volume of 758,075 shares. FLIR Systems has a 12 month low of $28.26 and a 12 month high of $38.94. The company has a market cap of $4.85 billion, a PE ratio of 23.68 and a beta of 0.49. The stock’s 50-day moving average is $37.09 and its 200 day moving average is $36.34.

FLIR Systems (NASDAQ:FLIR) last announced its earnings results on Wednesday, April 26th. The scientific and technical instruments company reported $0.36 earnings per share for the quarter, hitting the consensus estimate of $0.36. FLIR Systems had a net margin of 12.32% and a return on equity of 13.58%. The business had revenue of $406.80 million during the quarter, compared to the consensus estimate of $408.57 million. During the same quarter in the prior year, the firm earned $0.30 earnings per share. The business’s quarterly revenue was up 7.2% compared to the same quarter last year. On average, equities research analysts forecast that FLIR Systems will post $1.85 earnings per share for the current fiscal year.

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The business also recently announced a quarterly dividend, which was paid on Friday, June 9th. Shareholders of record on Friday, May 26th were issued a $0.15 dividend. The ex-dividend date was Wednesday, May 24th. This represents a $0.60 dividend on an annualized basis and a yield of 1.69%. FLIR Systems’s dividend payout ratio (DPR) is presently 39.47%.

In other FLIR Systems news, Director William Wright Crouch sold 38,800 shares of the stock in a transaction dated Wednesday, June 14th. The shares were sold at an average price of $35.95, for a total value of $1,394,860.00. Following the completion of the transaction, the director now directly owns 36,006 shares of the company’s stock, valued at $1,294,415.70. The sale was disclosed in a filing with the SEC, which is available at this link. Also, VP Jeffrey Frank sold 13,971 shares of the firm’s stock in a transaction that occurred on Thursday, May 18th. The stock was sold at an average price of $37.40, for a total transaction of $522,515.40. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 71,771 shares of company stock valued at $2,625,195. 3.00% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Russell Investments Group Ltd. acquired a new position in shares of FLIR Systems during the fourth quarter worth $13,868,000. Frontier Capital Management Co. LLC boosted its position in shares of FLIR Systems by 17.6% in the fourth quarter. Frontier Capital Management Co. LLC now owns 349,564 shares of the scientific and technical instruments company’s stock worth $12,651,000 after buying an additional 52,372 shares during the period. ING Groep NV acquired a new position in shares of FLIR Systems during the fourth quarter worth $307,000. Commerzbank Aktiengesellschaft FI acquired a new position in shares of FLIR Systems during the fourth quarter worth $232,000. Finally, Comerica Bank boosted its position in shares of FLIR Systems by 168.1% in the fourth quarter. Comerica Bank now owns 91,733 shares of the scientific and technical instruments company’s stock worth $3,269,000 after buying an additional 57,512 shares during the period. 92.19% of the stock is owned by institutional investors and hedge funds.

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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