FLIR Systems, Inc. (NASDAQ:FLIR) saw a significant drop in short interest in June. As of June 30th, there was short interest totalling 1,980,200 shares, a drop of 12.3% from the May 30th total of 2,257,600 shares. Currently, 1.5% of the company’s stock are sold short. Based on an average daily volume of 779,400 shares, the short-interest ratio is currently 2.5 days.
In other FLIR Systems news, Director Earl R. Lewis sold 23,116 shares of FLIR Systems stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $51.33, for a total value of $1,186,544.28. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director John D. Carter sold 10,300 shares of FLIR Systems stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $51.10, for a total transaction of $526,330.00. Following the completion of the sale, the director now directly owns 53,537 shares in the company, valued at approximately $2,735,740.70. The disclosure for this sale can be found here. Insiders have sold 65,121 shares of company stock worth $3,358,586 over the last three months. 2.00% of the stock is owned by insiders.
Institutional investors and hedge funds have recently bought and sold shares of the company. Osborn Williams & Donohoe LLC purchased a new position in shares of FLIR Systems in the first quarter worth about $39,000. CSat Investment Advisory L.P. increased its stake in shares of FLIR Systems by 147.2% in the fourth quarter. CSat Investment Advisory L.P. now owns 964 shares of the scientific and technical instruments company’s stock worth $42,000 after purchasing an additional 574 shares in the last quarter. Truvestments Capital LLC purchased a new position in shares of FLIR Systems in the first quarter worth about $59,000. Bessemer Group Inc. increased its stake in shares of FLIR Systems by 18.2% in the fourth quarter. Bessemer Group Inc. now owns 1,454 shares of the scientific and technical instruments company’s stock worth $63,000 after purchasing an additional 224 shares in the last quarter. Finally, Quadrant Capital Group LLC increased its stake in shares of FLIR Systems by 340.6% in the first quarter. Quadrant Capital Group LLC now owns 1,542 shares of the scientific and technical instruments company’s stock worth $69,000 after purchasing an additional 1,192 shares in the last quarter. Hedge funds and other institutional investors own 90.44% of the company’s stock.
FLIR stock traded up $1.21 during mid-day trading on Friday, hitting $54.91. The company had a trading volume of 606,622 shares, compared to its average volume of 634,288. The stock has a market cap of $7.27 billion, a price-to-earnings ratio of 24.73 and a beta of 1.18. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.61 and a current ratio of 2.45. FLIR Systems has a 12 month low of $40.52 and a 12 month high of $63.88. The firm’s fifty day moving average is $51.91.
FLIR Systems (NASDAQ:FLIR) last posted its earnings results on Wednesday, April 24th. The scientific and technical instruments company reported $0.53 earnings per share for the quarter, topping 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 net margin of 17.13% and a return on equity of 16.84%. The company’s revenue was up 1.2% on a year-over-year basis. During the same quarter last year, the company earned $0.48 earnings per share. As a group, sell-side analysts forecast that FLIR Systems will post 2.37 EPS for the current year.
Several brokerages have commented on FLIR. ValuEngine lowered shares of Zumiez from a “hold” rating to a “sell” rating in a research report on Tuesday, July 2nd. Imperial Capital raised shares of FLIR Systems from an “in-line” rating to an “outperform” rating and lifted their price objective for the stock from $56.00 to $57.00 in a research report on Wednesday, May 22nd. Raymond James reaffirmed a “hold” rating on shares of Whirlpool in a research report on Monday, March 18th. Finally, BidaskClub raised shares of Zumiez from a “sell” rating to a “hold” rating in a research report on Saturday, June 22nd. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $62.43.
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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