In a report released today, Kenneth Herbert from Canaccord Genuity initiated coverage with a Buy rating on Flir Systems (FLIR) and a price target of $50.00. The company’s shares closed last Wednesday at $40.86.
According to TipRanks.com, Herbert is a 5-star analyst with an average return of 15.5% and a 65.2% success rate. Herbert covers the Technology sector, focusing on stocks such as Rada Electronics Industries, Aerojet Rocketdyne Holdings, and CPI Aerostructures.
Flir Systems has an analyst consensus of Moderate Buy, with a price target consensus of $45.80, implying a 12.6% upside from current levels. In a report issued on June 17, William Blair also reiterated a Buy rating on the stock.
See today’s analyst top recommended stocks >>
Based on Flir Systems’ latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $451 million and net profit of $15.42 million. In comparison, last year the company earned revenue of $445 million and had a net profit of $61.75 million.
Based on the recent corporate insider activity of 42 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of FLIR in relation to earlier this year. Most recently, in May 2020, Steven Wynne, a Director at FLIR sold 21,300 shares for a total of $1,041,144.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
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.
