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

FLIR Systems, Inc. (NASDAQ:FLIR) was the recipient of a large decline in short interest during the month of June. As of June 30th, there was short interest totalling 1,980,200 shares, a decline of 12.3% from the May 30th total of 2,257,600 shares. Currently, 1.5% of the company’s shares are sold short. Based on an average trading volume of 779,400 shares, the days-to-cover ratio is currently 2.5 days.

FLIR has been the subject of a number of recent research reports. Raymond James restated a “hold” rating on shares of Whirlpool in a report on Monday, March 18th. ValuEngine lowered shares of Zumiez from a “hold” rating to a “sell” rating in a report on Tuesday, July 2nd. Imperial Capital upgraded shares of FLIR Systems from an “in-line” rating to an “outperform” rating and boosted their price objective for the stock from $56.00 to $57.00 in a report on Wednesday, May 22nd. Finally, BidaskClub upgraded shares of Zumiez from a “sell” rating to a “hold” rating in a report on Saturday, June 22nd. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $62.43.

NASDAQ:FLIR traded up $1.21 during midday trading on Friday, reaching $54.91. 606,622 shares of the stock traded hands, compared to its average volume of 634,288. The business has a fifty day moving average of $51.91. FLIR Systems has a 12 month low of $40.52 and a 12 month high of $63.88. The company has a quick ratio of 1.61, a current ratio of 2.45 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $7.27 billion, a PE ratio of 24.73 and a beta of 1.18.

FLIR Systems (NASDAQ:FLIR) last posted its quarterly earnings results on Wednesday, April 24th. The scientific and technical instruments company reported $0.53 EPS for the quarter, beating the Zacks’ consensus estimate of $0.48 by $0.05. FLIR Systems had a net margin of 17.13% and a return on equity of 16.84%. The company had revenue of $444.70 million during the quarter, compared to analyst estimates of $440.98 million. During the same period in the prior year, the business posted $0.48 EPS. The firm’s revenue was up 1.2% compared to the same quarter last year. As a group, analysts forecast that FLIR Systems will post 2.37 EPS for the current fiscal year.

In other news, Director Steven E. Wynne sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $52.53, for a total value of $525,300.00. Following the completion of the sale, the director now directly owns 484,031 shares in the company, valued at approximately $25,426,148.43. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Earl R. Lewis sold 23,116 shares of the business’s stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $51.33, for a total transaction of $1,186,544.28. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 65,121 shares of company stock valued at $3,358,586. Company insiders own 2.00% of the company’s stock.

A number of large investors have recently bought and sold shares of FLIR. Osborn Williams & Donohoe LLC bought a new stake in FLIR Systems during the 1st quarter valued at $39,000. CSat Investment Advisory L.P. raised its holdings in FLIR Systems by 147.2% during the 4th quarter. CSat Investment Advisory L.P. now owns 964 shares of the scientific and technical instruments company’s stock valued at $42,000 after buying an additional 574 shares during the last quarter. Truvestments Capital LLC bought a new stake in FLIR Systems during the 1st quarter valued at $59,000. Bessemer Group Inc. raised its holdings in FLIR Systems by 18.2% during 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 buying an additional 224 shares during the last quarter. Finally, Quadrant Capital Group LLC raised its holdings in FLIR Systems by 340.6% during the 1st quarter. Quadrant Capital Group LLC now owns 1,542 shares of the scientific and technical instruments company’s stock valued at $69,000 after buying an additional 1,192 shares during 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.

Read More: Commodities

Receive News & Ratings for FLIR Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for FLIR Systems and related companies with MarketBeat.com's FREE daily email newsletter.