FLIR Systems, Inc. (NASDAQ:FLIR) Short Interest Update

FLIR Systems, Inc. (NASDAQ:FLIR) was the recipient of a large increase in short interest in September. As of September 29th, there was short interest totalling 2,459,826 shares, an increase of 68.7% from the September 15th total of 1,458,251 shares. Approximately 1.8% of the company’s shares are short sold. Based on an average daily trading volume, of 1,556,962 shares, the days-to-cover ratio is presently 1.6 days.

Shares of FLIR Systems (FLIR) opened at 47.72 on Friday. The company has a market cap of $6.55 billion, a PE ratio of 30.77 and a beta of 0.60. FLIR Systems has a 52-week low of $31.81 and a 52-week high of $48.06. The company has a 50 day moving average of $40.83 and a 200-day moving average of $37.93.



FLIR Systems (NASDAQ:FLIR) last announced its quarterly earnings results on Wednesday, October 25th. The scientific and technical instruments company reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.04. FLIR Systems had a net margin of 12.30% and a return on equity of 14.30%. The firm had revenue of $464.70 million during the quarter, compared to analyst estimates of $446.06 million. During the same period in the previous year, the business posted $0.48 earnings per share. The business’s revenue for the quarter was up 14.7% on a year-over-year basis. Analysts forecast that FLIR Systems will post $1.86 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 8th. Stockholders of record on Friday, November 24th will be paid a $0.15 dividend. The ex-dividend date is Wednesday, November 22nd. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.26%. FLIR Systems’s dividend payout ratio is presently 37.74%.

In other FLIR Systems news, COO Thomas A. Surran sold 261,320 shares of the company’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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Earl R. Lewis sold 20,000 shares of the company’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 sale, the director now owns 509,379 shares of the company’s stock, valued at approximately $19,468,465.38. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 292,907 shares of company stock worth $11,191,737. Company insiders own 3.00% of the company’s stock.

Several hedge funds have recently made changes to their positions in FLIR. Empire Life Investments Inc. grew its stake in shares of FLIR Systems by 0.8% in the first quarter. Empire Life Investments Inc. now owns 719,372 shares of the scientific and technical instruments company’s stock worth $26,098,000 after acquiring an additional 5,754 shares during the period. UBS Asset Management Americas Inc. boosted its holdings in shares of FLIR Systems by 7.6% in the first quarter. UBS Asset Management Americas Inc. now owns 357,096 shares of the scientific and technical instruments company’s stock worth $12,955,000 after buying an additional 25,119 shares during the last quarter. Sei Investments Co. boosted its holdings in shares of FLIR Systems by 499.6% in the first quarter. Sei Investments Co. now owns 15,866 shares of the scientific and technical instruments company’s stock worth $576,000 after buying an additional 13,220 shares during the last quarter. M&T Bank Corp boosted its holdings in shares of FLIR Systems by 4.1% in the first quarter. M&T Bank Corp now owns 7,737 shares of the scientific and technical instruments company’s stock worth $281,000 after buying an additional 303 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in shares of FLIR Systems by 87.0% in the first quarter. JPMorgan Chase & Co. now owns 379,760 shares of the scientific and technical instruments company’s stock worth $13,777,000 after buying an additional 176,644 shares during the last quarter. Hedge funds and other institutional investors own 91.16% of the company’s stock.

Several brokerages have commented on FLIR. SunTrust Banks, Inc. upped their target price on shares of FLIR Systems from $37.00 to $43.00 and gave the company a “hold” rating in a research report on Thursday. Needham & Company LLC reiterated a “buy” rating and set a $50.00 target price (up previously from $42.00) on shares of FLIR Systems in a research report on Thursday. Robert W. Baird reiterated a “hold” rating and set a $34.00 target price on shares of FLIR Systems in a research report on Tuesday. Zacks Investment Research upgraded shares of FLIR Systems from a “hold” rating to a “strong-buy” rating and set a $53.00 price objective for the company in a research report on Thursday. Finally, Raymond James Financial, Inc. upped their price objective on shares of FLIR Systems to $60.00 and gave the company a “strong-buy” rating in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, two have issued a buy rating and three have assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average 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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