FLIR Systems, Inc. (FLIR) Sees Large Increase in Short Interest
FLIR Systems, Inc. (NASDAQ:FLIR) was the target of a large increase in short interest during the month of December. As of December 15th, there was short interest totalling 2,844,745 shares, an increase of 51.3% from the November 30th total of 1,880,575 shares. Approximately 2.1% of the company’s stock are sold short. Based on an average daily volume of 1,073,465 shares, the short-interest ratio is currently 2.7 days.
FLIR Systems (NASDAQ:FLIR) opened at $46.62 on Friday. The company has a quick ratio of 2.36, a current ratio of 3.48 and a debt-to-equity ratio of 0.22. The company has a market cap of $6,460.00, a price-to-earnings ratio of 29.51 and a beta of 0.62. FLIR Systems has a one year low of $33.75 and a one year high of $48.43.
FLIR Systems (NASDAQ:FLIR) last posted its quarterly earnings data on Wednesday, October 25th. The scientific and technical instruments company reported $0.52 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.04. The company had revenue of $464.70 million for the quarter, compared to analyst estimates of $446.06 million. FLIR Systems had a net margin of 12.30% and a return on equity of 14.30%. FLIR Systems’s quarterly revenue was up 14.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.48 earnings per share. equities research analysts anticipate that FLIR Systems will post 1.86 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 8th. Shareholders of record on Friday, November 24th were paid a $0.15 dividend. The ex-dividend date was Wednesday, November 22nd. This represents a $0.60 dividend on an annualized basis and a yield of 1.29%. FLIR Systems’s dividend payout ratio is presently 37.97%.
In related news, Director Steven E. Wynne sold 11,200 shares of the business’s stock in a transaction on Friday, October 27th. The shares were sold at an average price of $47.34, for a total value of $530,208.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Brian E. Harding sold 1,836 shares of the business’s stock in a transaction on Monday, October 30th. The shares were sold at an average price of $46.90, for a total transaction of $86,108.40. Following the completion of the sale, the vice president now directly owns 6,646 shares of the company’s stock, valued at $311,697.40. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 22,036 shares of company stock valued at $1,039,316. Corporate insiders own 3.00% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of FLIR. Commonwealth Bank of Australia increased its stake in FLIR Systems by 14.0% in the second quarter. Commonwealth Bank of Australia now owns 3,250 shares of the scientific and technical instruments company’s stock valued at $111,000 after purchasing an additional 400 shares during the period. Acrospire Investment Management LLC acquired a new position in FLIR Systems in the second quarter valued at $116,000. ETF Managers Group LLC acquired a new position in FLIR Systems in the second quarter valued at $171,000. Sei Investments Co. increased its stake in FLIR Systems by 76.3% in the third quarter. Sei Investments Co. now owns 4,507 shares of the scientific and technical instruments company’s stock valued at $175,000 after purchasing an additional 1,951 shares during the period. Finally, Skandinaviska Enskilda Banken AB publ acquired a new position in FLIR Systems in the third quarter valued at $211,000. Institutional investors own 92.94% of the company’s stock.
FLIR has been the subject of a number of research reports. Needham & Company LLC boosted their price target on shares of FLIR Systems from $40.00 to $42.00 and gave the company a “buy” rating in a research report on Wednesday, September 6th. Zacks Investment Research cut shares of FLIR Systems from a “buy” rating to a “hold” rating in a research report on Thursday, November 16th. ValuEngine cut shares of FLIR Systems from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. SunTrust Banks boosted their price target on shares of FLIR Systems from $37.00 to $43.00 and gave the company a “hold” rating in a research report on Thursday, October 26th. Finally, Raymond James Financial boosted their price target on shares of FLIR Systems to $60.00 and gave the company a “strong-buy” rating in a research report on Wednesday, October 25th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, two have given a buy rating and two have issued a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $46.33.
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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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