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

Zacks Investment Research upgraded shares of FLIR Systems (NASDAQ:FLIR) from a sell rating to a hold rating in a report published on Thursday, Zacks.com reports. Zacks Investment Research currently has $62.00 target price on the scientific and technical instruments company’s stock.

According to Zacks, “FLIR Systems continues to innovate new products, to capture larger market shares. Declining cost of thermal imaging technology has created opportunity to increase the adoption of thermal technology, thereby boosting its prospects. In October, it acquired the intellectual property and certain operating assets of Aria Insights, Inc. This should expand its industry-leading technology portfolio built from its acquisitions of Prox Dynamics, Aeryon Labs and Endeavor Robotics. In the past year, the stock outperformed the industry. However, the U.S.-China tariff war may hurt its growth trajectory. Strong competition from various big and small industry players remains a threat to its profitability. Product performance and product reputation are some of the biggest challenges faced by FLIR Systems.”

FLIR has been the topic of several other reports. Raymond James upgraded shares of FLIR Systems from an outperform rating to a strong-buy rating and lifted their price target for the stock from $60.00 to $75.00 in a research note on Tuesday. SunTrust Banks set a $58.00 price target on shares of FLIR Systems and gave the stock a buy rating in a research note on Friday, November 1st. BidaskClub upgraded shares of FLIR Systems from a sell rating to a hold rating in a research note on Thursday. Finally, William Blair restated an outperform rating on shares of FLIR Systems in a research note on Friday, November 15th. Three equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. FLIR Systems has an average rating of Buy and an average price target of $62.40.

NASDAQ:FLIR traded down $1.28 during midday trading on Thursday, hitting $57.51. 703,019 shares of the company were exchanged, compared to its average volume of 582,594. The company has a fifty day simple moving average of $53.60 and a 200 day simple moving average of $52.18. FLIR Systems has a fifty-two week low of $44.18 and a fifty-two week high of $59.44. The company has a current ratio of 2.38, a quick ratio of 1.53 and a debt-to-equity ratio of 0.34. The company has a market capitalization of $7.89 billion, a PE ratio of 29.34 and a beta of 1.13.

Hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. boosted its holdings in FLIR Systems by 0.7% during the second quarter. BlackRock Inc. now owns 9,906,385 shares of the scientific and technical instruments company’s stock worth $535,933,000 after buying an additional 66,304 shares in the last quarter. State Street Corp boosted its stake in shares of FLIR Systems by 1.5% in the fourth quarter. State Street Corp now owns 5,716,185 shares of the scientific and technical instruments company’s stock valued at $297,642,000 after purchasing an additional 84,474 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of FLIR Systems by 2.4% in the fourth quarter. Bank of New York Mellon Corp now owns 4,882,417 shares of the scientific and technical instruments company’s stock valued at $254,228,000 after purchasing an additional 115,730 shares during the period. Earnest Partners LLC boosted its stake in shares of FLIR Systems by 6.2% in the fourth quarter. Earnest Partners LLC now owns 2,262,571 shares of the scientific and technical instruments company’s stock valued at $117,812,000 after purchasing an additional 132,616 shares during the period. Finally, Voya Investment Management LLC boosted its stake in shares of FLIR Systems by 3.2% in the third quarter. Voya Investment Management LLC now owns 2,099,754 shares of the scientific and technical instruments company’s stock valued at $110,426,000 after purchasing an additional 65,982 shares during the period. Institutional investors own 94.32% of the company’s stock.

FLIR Systems Company Profile

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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