Short Interest in FLIR Systems, Inc. (NASDAQ:FLIR) Increases By 29.2%

FLIR Systems, Inc. (NASDAQ:FLIR) saw a significant growth in short interest in August. As of August 15th, there was short interest totalling 2,453,000 shares, a growth of 29.2% from the July 15th total of 1,899,000 shares. Approximately 1.8% of the company’s stock are short sold. Based on an average daily volume of 783,300 shares, the days-to-cover ratio is currently 3.1 days.

A number of institutional investors have recently modified their holdings of FLIR. Toronto Dominion Bank raised its stake in shares of FLIR Systems by 157.5% in the second quarter. Toronto Dominion Bank now owns 228,016 shares of the scientific and technical instruments company’s stock valued at $12,335,000 after buying an additional 139,449 shares during the period. Atria Investments LLC raised its stake in shares of FLIR Systems by 23.3% in the second quarter. Atria Investments LLC now owns 35,622 shares of the scientific and technical instruments company’s stock valued at $1,658,000 after buying an additional 6,739 shares during the period. BlackRock Inc. raised its stake in shares of FLIR Systems by 0.7% in the second quarter. BlackRock Inc. now owns 9,906,385 shares of the scientific and technical instruments company’s stock valued at $535,933,000 after buying an additional 66,304 shares during the period. Vestmark Advisory Solutions Inc. raised its stake in shares of FLIR Systems by 20.2% in the second quarter. Vestmark Advisory Solutions Inc. now owns 23,676 shares of the scientific and technical instruments company’s stock valued at $1,281,000 after buying an additional 3,987 shares during the period. Finally, Harvest Fund Management Co. Ltd bought a new stake in shares of FLIR Systems in the second quarter valued at $41,000. Institutional investors and hedge funds own 92.82% of the company’s stock.

FLIR Systems stock traded up $0.44 during mid-day trading on Wednesday, reaching $48.00. 1,393,254 shares of the company’s stock were exchanged, compared to its average volume of 893,995. The business’s fifty day simple moving average is $49.99 and its 200 day simple moving average is $50.57. The firm has a market capitalization of $6.51 billion, a PE ratio of 21.62 and a beta of 1.17. FLIR Systems has a one year low of $40.52 and a one year high of $63.88. The company has a quick ratio of 1.61, a current ratio of 2.47 and a debt-to-equity ratio of 0.34.

FLIR Systems (NASDAQ:FLIR) last issued its quarterly earnings results on Wednesday, July 24th. The scientific and technical instruments company reported $0.56 EPS for the quarter, topping the Zacks’ consensus estimate of $0.55 by $0.01. The business had revenue of $482.00 million for the quarter, compared to analyst estimates of $478.42 million. FLIR Systems had a return on equity of 16.56% and a net margin of 15.44%. FLIR Systems’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same period last year, the company posted $0.55 earnings per share. On average, sell-side analysts forecast that FLIR Systems will post 2.34 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 6th. Investors of record on Friday, August 23rd will be issued a dividend of $0.17 per share. The ex-dividend date of this dividend is Thursday, August 22nd. This represents a $0.68 dividend on an annualized basis and a yield of 1.42%. FLIR Systems’s dividend payout ratio (DPR) is currently 30.63%.

FLIR has been the topic of a number of recent research reports. Imperial Capital upgraded FLIR Systems from an “in-line” rating to an “outperform” rating and raised their target price for the company from $56.00 to $57.00 in a report on Wednesday, May 22nd. BidaskClub lowered FLIR Systems from a “buy” rating to a “hold” rating in a report on Thursday, July 18th. Finally, ValuEngine lowered FLIR Systems from a “buy” rating to a “hold” rating in a report on Wednesday, July 24th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. FLIR Systems currently has a consensus rating of “Buy” and an average price target of $60.50.

FLIR Systems Company Profile

FLIR Systems, Inc designs, develops, markets, and distributes thermal imaging systems, visible-light imaging systems, locater systems, measurement and diagnostic systems, and threat-detection solutions worldwide. The company operates in three segments: Industrial Business Unit, Government and Defense Business Unit, and Commercial Business Unit.

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