FLIR Systems, Inc. (FLIR) Positive Triggers Remain Out Of Sight?

FLIR Systems, Inc. (NASDAQ:FLIR) is rated as In-line by analysts at Imperial Capital. The firm was pushed by the stock performance to change their PT view from $51 to $56 on February 21. Analysts at Robert W. Baird, shed their negative views on January 25 by lifting it fromNeutral to Outperform. Brokerage firm Imperial Capital, looks cautious as they stick to prior recommendation of In-line, in a call on November 01. However, they did change the target price from $60 to $51. William Blair analysts came out with bullish views on August 20 when the call was made. They think the stock is now Outperform compared to to their prior call for Mkt Perform.

FLIR stock dropped -0.22% in recent trade and currently has a stock-market value of $6.92B. The shares finished at $50.54, after trading as low as $50.3002 earlier in the session. It hit an intraday high Thursday at $50.82. Trading activity significantly improved as the volume at ready counter increased to 997,013 shares versus 862,885 in average daily trading volume over the past 20 days. So far this year, the volume has averaged about 953,748 shares. The stock is now 24.73% above against its bear-market low of $40.52 on December 26, 2018. It has retreated -26.39% since it’s 52-week high of $63.88 reached in September. Now the market price is down -1.62% on the year and up 16.08% YTD.

Wall Street’s most bullish FLIR Systems, Inc. (NASDAQ:FLIR) analysts are predicting the share price to blow past $65 per share during the next 12 months. The current median share price forecast by them is $59, suggesting that the stock could increase 16.74% in that time frame. The average price target of $58.63 calls for a nearly 16.01% increase in the stock price.

FLIR Systems, Inc. (FLIR)’s 50 day simple moving average (SMA 50) price is $48.41 and its 200-day simple moving average (SMA 200) price is $52.61. The company’s stock currently has a total float of 131.36M shares. Its weekly volatility is hovering around 1.53% and felt 1.57% volatility in price over a month. On the upside, the share price will test short term resistance at around $50.81. On a downside, the stock is likely to find some support, which begins at $50.29. The failure to get near-term support could push it to $50.03.

When looking at valuations, FLIR Systems, Inc. (FLIR) has a pricey P/E of 25.03x as compared to industry average of 19.76x. Moreover, it trades for 19.3 times the next 12 months of expected earnings. Also, it is trading at rather expensive levels at just over 3.68x price/book and 3.9x price/sales. Compared to others, FLIR Systems, Inc. is in a different league with regards to profitability, having net margins of 15.9%. To put some perspective around this, the industry’s average net margin is 4.52%. FLIR’s ROE is 15.3%, which is also considerably better than the industry’s ROE of 5.99%. It’s also very liquid in the near term, with a current ratio of 4.1. The stock has a debt/capital of 0.

Shares of FLIR have dropped -0.4% since the company’s most recent earnings report. Over the past 12 fiscal quarters, FLIR Systems, Inc. (NASDAQ:FLIR) has topped consensus earnings estimates in 6 quarters (50%), missed earnings in 4 quarters (33%), whereas at 2 occasion EPS met analyst expectations. FLIR last reported earnings that exceeded expectations. The company raked in $0.62 per share, -84.1% change on the same period last year. That was better than consensus for $0.6. Revenue for the recent quarter stood at $448.46 million, down -9% on last year and below the $464.92 million predicted by analysts. For this quarter, Wall Street analysts forecast revenue in a range of $434 million to $446.26 million, which should be compared with $411.8 million generated last year. EPS is seen in a range of $0.47 to $0.55, against the $0.47 reported a year ago.