FLIR Systems, Inc. (NASDAQ:FLIR) saw a large decrease in short interest in June. As of June 30th, there was short interest totalling 1,980,200 shares, a decrease of 12.3% from the May 30th total of 2,257,600 shares. Based on an average daily volume of 779,400 shares, the days-to-cover ratio is currently 2.5 days. Approximately 1.5% of the shares of the stock are sold short.
Several research firms recently weighed in on FLIR. BidaskClub raised Zumiez from a “sell” rating to a “hold” rating in a research note on Saturday, June 22nd. ValuEngine lowered Zumiez from a “hold” rating to a “sell” rating in a research note on Tuesday, July 2nd. Raymond James reaffirmed a “hold” rating on shares of Whirlpool in a research note on Monday, March 18th. Finally, Imperial Capital raised FLIR Systems from an “in-line” rating to an “outperform” rating and raised their price objective for the company from $56.00 to $57.00 in a research note on Wednesday, May 22nd. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $62.43.
FLIR Systems stock traded up $1.21 during trading hours on Friday, hitting $54.91. The stock had a trading volume of 606,600 shares, compared to its average volume of 875,953. The company has a current ratio of 2.45, a quick ratio of 1.61 and a debt-to-equity ratio of 0.35. The company has a market capitalization of $7.29 billion, a PE ratio of 24.73 and a beta of 1.18. FLIR Systems has a one year low of $40.52 and a one year high of $63.88. The business has a 50 day moving average of $51.80.
FLIR Systems (NASDAQ:FLIR) last posted its earnings results on Wednesday, April 24th. The scientific and technical instruments company reported $0.53 EPS for the quarter, beating the consensus estimate of $0.48 by $0.05. The firm had revenue of $444.70 million during the quarter, compared to the consensus estimate of $440.98 million. FLIR Systems had a return on equity of 16.84% and a net margin of 17.13%. The business’s quarterly revenue was up 1.2% on a year-over-year basis. During the same period last year, the company earned $0.48 earnings per share. As a group, analysts anticipate that FLIR Systems will post 2.37 EPS for the current fiscal year.
In related news, Director Earl R. Lewis sold 23,116 shares of the firm’s stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $51.33, for a total value of $1,186,544.28. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director John D. Carter sold 10,300 shares of the firm’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $51.10, for a total value of $526,330.00. Following the completion of the sale, the director now directly owns 53,537 shares in the company, valued at $2,735,740.70. The disclosure for this sale can be found here. Over the last three months, insiders have sold 65,121 shares of company stock worth $3,358,586. 2.00% of the stock is currently owned by insiders.
Several institutional investors and hedge funds have recently modified their holdings of the company. Stephens Inc. AR raised its position in shares of FLIR Systems by 31.1% in the 4th quarter. Stephens Inc. AR now owns 2,840 shares of the scientific and technical instruments company’s stock worth $124,000 after acquiring an additional 673 shares in the last quarter. Northern Trust Corp boosted its stake in shares of FLIR Systems by 0.4% in the 4th quarter. Northern Trust Corp now owns 1,534,126 shares of the scientific and technical instruments company’s stock valued at $66,796,000 after purchasing an additional 6,155 shares in the last quarter. Great West Life Assurance Co. Can boosted its stake in shares of FLIR Systems by 2.6% in the 4th quarter. Great West Life Assurance Co. Can now owns 59,105 shares of the scientific and technical instruments company’s stock valued at $2,437,000 after purchasing an additional 1,476 shares in the last quarter. Bessemer Group Inc. boosted its stake in shares of FLIR Systems by 18.2% in the 4th quarter. Bessemer Group Inc. now owns 1,454 shares of the scientific and technical instruments company’s stock valued at $63,000 after purchasing an additional 224 shares in the last quarter. Finally, United Services Automobile Association boosted its stake in shares of FLIR Systems by 2.0% in the 4th quarter. United Services Automobile Association now owns 49,158 shares of the scientific and technical instruments company’s stock valued at $2,140,000 after purchasing an additional 953 shares in the last quarter. Institutional investors own 90.44% of the company’s stock.
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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