FLIR Systems, Inc. (FLIR) Short Interest Update
FLIR Systems, Inc. (NASDAQ:FLIR) saw a large growth in short interest in the month of September. As of September 29th, there was short interest totalling 2,459,826 shares, a growth of 68.7% from the September 15th total of 1,458,251 shares. Based on an average daily volume of 1,556,962 shares, the days-to-cover ratio is currently 1.6 days. Currently, 1.8% of the shares of the company are sold short.
Shares of FLIR Systems (NASDAQ FLIR) opened at 42.68 on Friday. The stock has a 50 day moving average of $39.47 and a 200-day moving average of $37.43. The stock has a market capitalization of $5.86 billion, a PE ratio of 27.52 and a beta of 0.60. FLIR Systems has a 52 week low of $28.26 and a 52 week high of $43.00.
FLIR Systems (NASDAQ:FLIR) last posted its earnings results on Wednesday, July 26th. The scientific and technical instruments company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.01. FLIR Systems had a net margin of 12.44% and a return on equity of 13.97%. The firm had revenue of $434.12 million during the quarter, compared to analysts’ expectations of $437.32 million. During the same period in the previous year, the business posted $0.37 EPS. The business’s revenue was up 7.8% compared to the same quarter last year. On average, equities research analysts expect that FLIR Systems will post $1.85 EPS for the current year.
In other news, COO Thomas A. Surran sold 261,320 shares of the business’s stock in a transaction on Friday, September 1st. The shares were sold at an average price of $38.25, for a total transaction of $9,995,490.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Earl R. Lewis sold 20,000 shares of the business’s stock in a transaction on Wednesday, August 16th. The shares were sold at an average price of $38.22, for a total transaction of $764,400.00. Following the transaction, the director now owns 509,379 shares of the company’s stock, valued at $19,468,465.38. The disclosure for this sale can be found here. Insiders sold a total of 292,907 shares of company stock worth $11,191,737 in the last ninety days. 3.00% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Commonwealth Bank of Australia raised its position in FLIR Systems by 14.0% during the second quarter. Commonwealth Bank of Australia now owns 3,250 shares of the scientific and technical instruments company’s stock worth $111,000 after acquiring an additional 400 shares during the period. Acrospire Investment Management LLC acquired a new position in FLIR Systems during the second quarter worth $116,000. ETF Managers Group LLC acquired a new position in FLIR Systems during the second quarter worth $171,000. OppenheimerFunds Inc. acquired a new position in FLIR Systems during the first quarter worth $203,000. Finally, Koch Industries Inc. acquired a new position in FLIR Systems during the second quarter worth $214,000. Hedge funds and other institutional investors own 90.73% of the company’s stock.
A number of analysts have recently issued reports on the stock. BidaskClub downgraded shares of FLIR Systems from a “hold” rating to a “sell” rating in a report on Monday, July 31st. Zacks Investment Research raised shares of FLIR Systems from a “hold” rating to a “buy” rating and set a $43.00 price objective for the company in a research note on Thursday, July 27th. Needham & Company LLC upped their price objective on shares of FLIR Systems from $40.00 to $42.00 and gave the company a “buy” rating in a research note on Wednesday, September 6th. UBS AG raised shares of FLIR Systems from a “market perform” rating to a “strong-buy” rating in a research note on Monday, July 10th. Finally, Raymond James Financial, Inc. upgraded shares of FLIR Systems from a “market perform” rating to a “strong-buy” rating and set a $43.00 price target on the stock in a research report on Monday, July 10th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, two have issued a buy rating and two have assigned a strong buy rating to the company’s stock. FLIR Systems has a consensus rating of “Buy” and an average price target of $39.17.
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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