FLIR Systems, Inc. (NASDAQ:FLIR) was the target of a large growth in short interest during the month of February. As of February 28th, there was short interest totalling 2,997,209 shares, a growth of 31.1% from the February 15th total of 2,286,174 shares. Currently, 2.2% of the shares of the company are short sold. Based on an average daily volume of 1,180,154 shares, the short-interest ratio is currently 2.5 days.
Institutional investors have recently added to or reduced their stakes in the business. Asset Management One Co. Ltd. raised its holdings in FLIR Systems by 31.7% in the 3rd quarter. Asset Management One Co. Ltd. now owns 273,830 shares of the scientific and technical instruments company’s stock valued at $10,662,000 after acquiring an additional 65,957 shares during the period. State of Tennessee Treasury Department raised its holdings in FLIR Systems by 65.8% in the 3rd quarter. State of Tennessee Treasury Department now owns 61,891 shares of the scientific and technical instruments company’s stock valued at $2,408,000 after acquiring an additional 24,569 shares during the period. Jennison Associates LLC raised its holdings in FLIR Systems by 1.0% in the 4th quarter. Jennison Associates LLC now owns 918,702 shares of the scientific and technical instruments company’s stock valued at $42,830,000 after acquiring an additional 8,911 shares during the period. ING Groep NV raised its holdings in FLIR Systems by 55.8% in the 3rd quarter. ING Groep NV now owns 11,857 shares of the scientific and technical instruments company’s stock valued at $461,000 after acquiring an additional 4,247 shares during the period. Finally, Rhumbline Advisers raised its holdings in FLIR Systems by 25.0% in the 3rd quarter. Rhumbline Advisers now owns 294,413 shares of the scientific and technical instruments company’s stock valued at $11,456,000 after acquiring an additional 58,901 shares during the period. 92.96% of the stock is currently owned by hedge funds and other institutional investors.
Shares of FLIR Systems (FLIR) opened at $50.82 on Tuesday. FLIR Systems has a one year low of $33.95 and a one year high of $52.88. The stock has a market cap of $7,040.00, a PE ratio of 35.05 and a beta of 0.68. The company has a quick ratio of 2.57, a current ratio of 3.51 and a debt-to-equity ratio of 0.23.
FLIR Systems (NASDAQ:FLIR) last issued its earnings results on Wednesday, February 14th. The scientific and technical instruments company reported $0.58 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.55 by $0.03. FLIR Systems had a net margin of 5.96% and a return on equity of 14.54%. The business had revenue of $494.80 million during the quarter, compared to the consensus estimate of $501.44 million. During the same period last year, the business posted $0.48 EPS. FLIR Systems’s revenue was up 4.2% on a year-over-year basis. equities analysts predict that FLIR Systems will post 2.11 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, March 9th. Shareholders of record on Friday, February 23rd were issued a $0.16 dividend. This is a boost from FLIR Systems’s previous quarterly dividend of $0.15. This represents a $0.64 annualized dividend and a yield of 1.26%. The ex-dividend date of this dividend was Thursday, February 22nd. FLIR Systems’s dividend payout ratio is currently 44.14%.
FLIR has been the subject of several recent analyst reports. Zacks Investment Research downgraded shares of FLIR Systems from a “buy” rating to a “hold” rating in a research note on Thursday, November 16th. ValuEngine downgraded shares of FLIR Systems from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. SunTrust Banks upgraded shares of FLIR Systems from a “hold” rating to a “buy” rating and set a $43.00 target price for the company in a research note on Monday, January 8th. BidaskClub upgraded shares of FLIR Systems from a “hold” rating to a “buy” rating in a research note on Saturday, January 20th. Finally, Needham & Company LLC raised their target price on shares of FLIR Systems from $50.00 to $56.00 and gave the company a “buy” rating in a research note on Thursday, February 15th. Two equities research analysts have rated the stock with a hold rating, five have issued a buy rating and two have given a strong buy rating to the company. FLIR Systems has an average rating of “Buy” and an average target price of $51.67.
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FLIR Systems Company Profile
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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