FLIR Systems (FLIR) Upgraded at SunTrust Banks

SunTrust Banks upgraded shares of FLIR Systems (NASDAQ:FLIR) from a hold rating to a buy rating in a report released on Monday, January 8th, Marketbeat reports. SunTrust Banks currently has $43.00 price target on the scientific and technical instruments company’s stock. SunTrust Banks also issued estimates for FLIR Systems’ FY2018 earnings at $2.29 EPS and FY2019 earnings at $2.50 EPS.

A number of other equities analysts have also recently weighed in on FLIR. Zacks Investment Research cut shares of FLIR Systems from a buy rating to a hold rating in a research report on Thursday, November 16th. Needham & Company LLC reissued a buy rating and set a $50.00 price target (up previously from $42.00) on shares of FLIR Systems in a research report on Thursday, October 26th. Raymond James Financial lifted their price objective on shares of FLIR Systems to $60.00 and gave the company a strong-buy rating in a research report on Wednesday, October 25th. ValuEngine downgraded FLIR Systems from a buy rating to a hold rating in a research note on Friday, December 1st. Finally, Robert W. Baird reissued a hold rating and issued a $34.00 target price on shares of FLIR Systems in a research note on Tuesday, October 24th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, four have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The stock currently has an average rating of Buy and an average target price of $46.83.

Shares of FLIR Systems (NASDAQ:FLIR) opened at $50.85 on Monday. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.48 and a quick ratio of 2.36. FLIR Systems has a twelve month low of $33.75 and a twelve month high of $51.09. The company has a market cap of $6,975.83, a PE ratio of 31.98 and a beta of 0.63.

FLIR Systems (NASDAQ:FLIR) last released its earnings results on Wednesday, October 25th. The scientific and technical instruments company reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.04. The company had revenue of $464.70 million for the quarter, compared to the consensus estimate of $446.06 million. FLIR Systems had a net margin of 12.30% and a return on equity of 14.30%. FLIR Systems’s revenue was up 14.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.48 EPS. sell-side analysts expect that FLIR Systems will post 1.86 earnings per share for the current year.

In other news, Director Steven E. Wynne sold 11,200 shares of the stock in a transaction dated Friday, October 27th. The stock was sold at an average price of $47.34, for a total transaction of $530,208.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Todd M. Duchene sold 9,000 shares of the firm’s stock in a transaction that occurred on Monday, October 30th. The shares were sold at an average price of $47.00, for a total value of $423,000.00. Following the completion of the sale, the senior vice president now directly owns 29,767 shares in the company, valued at approximately $1,399,049. The disclosure for this sale can be found here. Insiders have sold a total of 22,036 shares of company stock valued at $1,039,316 over the last ninety days. Company insiders own 3.00% of the company’s stock.

Large investors have recently made changes to their positions in the company. Commonwealth Bank of Australia grew its holdings in shares of FLIR Systems by 14.0% during the 2nd quarter. Commonwealth Bank of Australia now owns 3,250 shares of the scientific and technical instruments company’s stock worth $111,000 after purchasing an additional 400 shares in the last quarter. Acrospire Investment Management LLC bought a new position in shares of FLIR Systems during the 2nd quarter worth approximately $116,000. CrestPoint Capital Management LLC bought a new position in shares of FLIR Systems during the 4th quarter worth approximately $210,000. Sei Investments Co. lifted its position in shares of FLIR Systems by 76.3% during the 3rd quarter. Sei Investments Co. now owns 4,507 shares of the scientific and technical instruments company’s stock worth $175,000 after buying an additional 1,951 shares during the period. Finally, ETF Managers Group LLC bought a new position in shares of FLIR Systems during the 2nd quarter worth approximately $171,000. 92.95% of the stock is currently owned by institutional investors.

TRADEMARK VIOLATION WARNING: “FLIR Systems (FLIR) Upgraded at SunTrust Banks” was first published by The Ledger Gazette and is owned by of The Ledger Gazette. If you are reading this article on another domain, it was copied illegally and reposted in violation of United States and international trademark and copyright legislation. The legal version of this article can be read at https://ledgergazette.com/2018/01/18/flir-systems-flir-raised-to-buy-at-suntrust-banks.html.

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.

Analyst Recommendations for FLIR Systems (NASDAQ:FLIR)

Receive News & Ratings for FLIR Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for FLIR Systems and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply