FLIR Systems, Inc. (FLIR) Short Interest Update
FLIR Systems, Inc. (NASDAQ:FLIR) was the recipient of a significant growth in short interest in July. As of July 31st, there was short interest totalling 1,309,951 shares, a growth of 41.3% from the July 14th total of 927,308 shares. Based on an average daily volume of 1,234,516 shares, the short-interest ratio is currently 1.1 days. Approximately 1.0% of the company’s stock are sold short.
A number of equities research analysts recently issued reports on the stock. BidaskClub cut shares of FLIR Systems from a “hold” rating to a “sell” rating in a report on Monday, July 31st. Zacks Investment Research cut shares of FLIR Systems from a “buy” rating to a “hold” rating in a report on Friday, July 28th. 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 objective for the company in a report on Monday, July 10th. UBS AG upgraded shares of FLIR Systems from a “market perform” rating to a “strong-buy” rating in a report on Monday, July 10th. Finally, Stephens assumed coverage on shares of FLIR Systems in a report on Friday, July 7th. They issued an “overweight” rating for the company. One analyst has rated the stock with a sell rating, four have given a hold rating, four have issued a buy rating and two have given a strong buy rating to the company. FLIR Systems currently has a consensus rating of “Buy” and a consensus price target of $38.13.
In related news, Director William Wright Crouch sold 38,800 shares of the company’s stock in a transaction on Wednesday, June 14th. The shares were sold at an average price of $35.95, for a total value of $1,394,860.00. Following the completion of the sale, the director now directly owns 36,006 shares in the company, valued at $1,294,415.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Earl R. Lewis sold 11,587 shares of the company’s stock in a transaction on Monday, July 31st. The stock was sold at an average price of $37.27, for a total transaction of $431,847.49. The disclosure for this sale can be found here. Insiders sold 64,358 shares of company stock valued at $2,349,223 over the last quarter. 3.00% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Teachers Advisors LLC increased its position in shares of FLIR Systems by 4.7% in the fourth quarter. Teachers Advisors LLC now owns 169,580 shares of the scientific and technical instruments company’s stock worth $6,137,000 after buying an additional 7,567 shares during the period. Gulf International Bank UK Ltd increased its position in shares of FLIR Systems by 1.5% in the first quarter. Gulf International Bank UK Ltd now owns 40,984 shares of the scientific and technical instruments company’s stock worth $1,486,000 after buying an additional 600 shares during the period. Bank of Montreal Can increased its position in shares of FLIR Systems by 809.4% in the first quarter. Bank of Montreal Can now owns 352,523 shares of the scientific and technical instruments company’s stock worth $12,790,000 after buying an additional 313,757 shares during the period. Fox Run Management L.L.C. purchased a new position in shares of FLIR Systems during the first quarter worth approximately $287,000. Finally, Cribstone Capital Management LLC purchased a new position in shares of FLIR Systems during the first quarter worth approximately $106,000. 87.44% of the stock is owned by institutional investors.
FLIR Systems (FLIR) opened at 37.89 on Wednesday. The firm’s 50-day moving average is $36.93 and its 200-day moving average is $36.57. FLIR Systems has a 52-week low of $28.26 and a 52-week high of $38.94. The firm has a market cap of $5.20 billion, a price-to-earnings ratio of 24.43 and a beta of 0.59.
FLIR Systems (NASDAQ:FLIR) last announced its quarterly earnings data on Wednesday, July 26th. The scientific and technical instruments company reported $0.42 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.01. FLIR Systems had a net margin of 12.44% and a return on equity of 13.97%. The company had revenue of $434.12 million during the quarter, compared to the consensus estimate of $437.32 million. During the same quarter last year, the firm posted $0.37 EPS. The company’s quarterly revenue was up 7.8% on a year-over-year basis. Analysts forecast that FLIR Systems will post $1.85 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 8th. Stockholders of record on Friday, August 25th will be given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.58%. The ex-dividend date is Wednesday, August 23rd. FLIR Systems’s dividend payout ratio (DPR) is presently 38.46%.
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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