Flir Systems (FLIR) Gets a Buy Rating from Needham

In a report released today, James Ricchiuti from Needham reiterated a Buy rating on Flir Systems (FLIR), with a price target of $52.00. The company’s shares closed last Wednesday at $45.41.

According to, Ricchiuti is a 5-star analyst with an average return of 11.7% and a 57.9% success rate. Ricchiuti covers the Technology sector, focusing on stocks such as Benchmark Electronics, Teledyne Technologies, and Faro Technologies.

Flir Systems has an analyst consensus of Moderate Buy, with a price target consensus of $45.00.

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Based on Flir Systems’ latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $489 million and net profit of $1.68 million. In comparison, last year the company earned revenue of $448 million and had a net profit of $98.52 million.

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FLIR Systems, Inc. develops technologies, which enhance perception and awareness. It design, develop, market, and distribute solutions that detect people, objects and substances that may not be perceived by human senses and improve the way people interact with the world around them. The company operates through the following segments: Industrial business unit, Government & Defense business unit, and Commercial business unit. The Industrial business unit segment develops and manufactures thermal and visible-spectrum imaging camera cores and components that are utilized by third parties to create thermal, industrial, and other types of imaging systems. The Government & Defense business unit segment develops and manufactures enhanced imaging and recognition solutions for a wide variety of military, law enforcement, public safety, and other government customers around the world for the protection of borders, troops, and public welfare. The Commercial business unit segment develops and manufactures cameras, video recording systems, and video management systems for use in commercial and critical infrastructure, electronics and imaging instruments for the recreational and commercial maritime market, intelligent traffic monitoring and signal control systems, and hand-held and weapon-mounted thermal imaging systems for use in a variety of applications. FLIR Systems was founded in 1978 and is headquartered in Wilsonville, OR.

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