FLIR Systems (NASDAQ:FLIR) Rating Lowered to Hold at Zacks Investment Research

Zacks Investment Research downgraded shares of FLIR Systems (NASDAQ:FLIR) from a buy rating to a hold rating in a research report report published on Friday, February 2nd.

According to Zacks, “FLIR Systems is enjoying strong top-line growth, as robust momentum in its commercial products and positive performance of most of its segments drive growth. The company’s solid execution and streamlined business are expected to drive solid improvements in backlog, adjusted gross margin and earnings per share. Going forward, the company believes that its robust pipeline of products and steady market traction of the recently launched products will continue to drive revenue growth. Year to date, FLIR Systems’ shares have outperformed compared with the industry average. Despite these positives, the company’s gross margins are vulnerable to a host of factors, including product mix changes and manufacturing cost absorption. Also, high manufacturing cost absorption is likely to restrict the company’s growth. Moreover, factors like imposition of governmental controls and restrictions on export of technology may pose as concerns.”

Other equities analysts have also issued research reports about the stock. Needham & Company LLC reiterated a buy rating and issued a $50.00 target price (up previously from $42.00) on shares of FLIR Systems in a research report on Thursday, October 26th. BidaskClub upgraded shares of FLIR Systems from a hold rating to a buy rating in a research report on Saturday, January 20th. SunTrust Banks upgraded shares of FLIR Systems from a hold rating to a buy rating and set a $43.00 target price for the company in a research report on Monday, January 8th. ValuEngine lowered shares of FLIR Systems from a buy rating to a hold rating in a research report on Friday, December 1st. Finally, Robert W. Baird restated a hold rating and set a $34.00 price objective on shares of FLIR Systems in a research report on Tuesday, October 24th. Five investment analysts have rated the stock with a hold rating, three have given a buy rating and two have assigned a strong buy rating to the stock. The company presently has an average rating of Buy and an average target price of $46.83.

Shares of FLIR Systems (FLIR) traded up $0.58 on Friday, reaching $47.04. 1,200,000 shares of the company were exchanged, compared to its average volume of 931,760. The company has a market cap of $6,518.52, a price-to-earnings ratio of 29.58 and a beta of 0.66. The company has a quick ratio of 2.36, a current ratio of 3.48 and a debt-to-equity ratio of 0.22. FLIR Systems has a 12-month low of $33.75 and a 12-month high of $52.88.

Large investors have recently bought and sold shares of the company. Howe & Rusling Inc. bought a new position in shares of FLIR Systems during the 3rd quarter valued at about $261,000. Cardinal Capital Management boosted its position in shares of FLIR Systems by 10.0% during the 3rd quarter. Cardinal Capital Management now owns 16,653 shares of the scientific and technical instruments company’s stock valued at $647,000 after purchasing an additional 1,510 shares in the last quarter. Asset Management One Co. Ltd. boosted its position in shares of FLIR Systems by 31.7% during the 3rd quarter. Asset Management One Co. Ltd. now owns 273,830 shares of the scientific and technical instruments company’s stock valued at $10,662,000 after purchasing an additional 65,957 shares in the last quarter. Grandfield & Dodd LLC bought a new position in shares of FLIR Systems during the 3rd quarter valued at about $1,357,000. Finally, APG Asset Management N.V. boosted its position in shares of FLIR Systems by 58.5% during the 3rd quarter. APG Asset Management N.V. now owns 169,868 shares of the scientific and technical instruments company’s stock valued at $6,610,000 after purchasing an additional 62,700 shares in the last quarter. Institutional investors own 91.86% of the company’s stock.

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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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