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

FLIR Systems, Inc. (NASDAQ:FLIR) was the target of a significant increase in short interest in the month of August. As of August 31st, there was short interest totalling 2,788,700 shares, an increase of 13.7% from the July 31st total of 2,453,000 shares. Based on an average trading volume of 780,900 shares, the short-interest ratio is presently 3.6 days. Currently, 2.1% of the shares of the stock are sold short.

Institutional investors have recently added to or reduced their stakes in the stock. Harvest Fund Management Co. Ltd acquired a new position in FLIR Systems during the second quarter valued at approximately $41,000. Point72 Asset Management L.P. bought a new stake in FLIR Systems during the second quarter valued at $87,000. Hilton Capital Management LLC bought a new stake in FLIR Systems during the first quarter valued at $92,000. Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of FLIR Systems during the second quarter worth about $108,000. Finally, Bessemer Group Inc. grew its position in shares of FLIR Systems by 45.6% during the second quarter. Bessemer Group Inc. now owns 2,117 shares of the scientific and technical instruments company’s stock worth $115,000 after acquiring an additional 663 shares during the last quarter. Hedge funds and other institutional investors own 91.07% of the company’s stock.

FLIR has been the subject of a number of research reports. Berenberg Bank initiated coverage on shares of FLIR Systems in a research note on Friday, September 6th. They set a “buy” rating and a $60.00 target price for the company. ValuEngine lowered shares of FLIR Systems from a “buy” rating to a “hold” rating in a report on Wednesday, July 24th. BidaskClub upgraded shares of FLIR Systems from a “hold” rating to a “buy” rating in a report on Friday, August 30th. Finally, Imperial Capital upgraded shares of FLIR Systems from an “in-line” rating to an “outperform” rating and upped their price objective for the stock from $56.00 to $57.00 in a report on Wednesday, May 22nd. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $60.40.

NASDAQ:FLIR traded up $0.46 during mid-day trading on Friday, hitting $52.91. 29,368 shares of the company’s stock traded hands, compared to its average volume of 721,388. The company has a market cap of $7.04 billion, a PE ratio of 23.86 and a beta of 1.17. FLIR Systems has a 1 year low of $40.52 and a 1 year high of $63.88. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.61 and a current ratio of 2.47. The firm’s 50 day simple moving average is $48.87 and its 200 day simple moving average is $50.47.

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 analysts’ consensus estimates of $0.55 by $0.01. The business had revenue of $482.00 million during the quarter, compared to the consensus estimate of $478.42 million. FLIR Systems had a net margin of 15.44% and a return on equity of 16.56%. The company’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.55 earnings per share. On average, research analysts expect that FLIR Systems will post 2.34 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, September 6th. Investors of record on Friday, August 23rd were issued a $0.17 dividend. The ex-dividend date of this dividend was Thursday, August 22nd. This represents a $0.68 dividend on an annualized basis and a yield of 1.29%. FLIR Systems’s payout ratio is 30.63%.

About FLIR Systems

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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