FLIR Systems, Inc. (NASDAQ:FLIR) Short Interest Up 24.8% in September

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FLIR Systems, Inc. (NASDAQ:FLIR) saw a large growth in short interest in September. As of September 30th, there was short interest totalling 3,320,000 shares, a growth of 24.8% from the September 15th total of 2,660,000 shares. Approximately 2.6% of the company’s stock are short sold. Based on an average daily volume of 1,370,000 shares, the short-interest ratio is currently 2.4 days.

FLIR traded down $0.31 during midday trading on Friday, reaching $37.18. The company’s stock had a trading volume of 1,217,894 shares, compared to its average volume of 1,614,095. The stock has a market cap of $4.88 billion, a P/E ratio of 35.41 and a beta of 1.44. The company has a fifty day simple moving average of $35.82 and a 200 day simple moving average of $39.37. The company has a current ratio of 2.03, a quick ratio of 1.29 and a debt-to-equity ratio of 0.37. FLIR Systems has a twelve month low of $23.85 and a twelve month high of $59.44.

FLIR Systems (NASDAQ:FLIR) last released its earnings results on Thursday, August 6th. The scientific and technical instruments company reported $0.64 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.51 by $0.13. The firm had revenue of $482.00 million for the quarter, compared to analyst estimates of $480.02 million. FLIR Systems had a return on equity of 16.45% and a net margin of 7.42%. The company’s revenue was up .0% on a year-over-year basis. During the same quarter last year, the firm posted $0.52 EPS. Sell-side analysts expect that FLIR Systems will post 2.22 earnings per share for the current year.

Several large investors have recently made changes to their positions in the company. State Street Corp grew its holdings in shares of FLIR Systems by 1.0% during the 1st quarter. State Street Corp now owns 5,775,331 shares of the scientific and technical instruments company’s stock worth $184,175,000 after purchasing an additional 59,146 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of FLIR Systems by 3.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 4,603,020 shares of the scientific and technical instruments company’s stock worth $186,747,000 after purchasing an additional 149,461 shares in the last quarter. FMR LLC grew its holdings in shares of FLIR Systems by 43,154.3% during the 2nd quarter. FMR LLC now owns 2,832,293 shares of the scientific and technical instruments company’s stock worth $114,906,000 after purchasing an additional 2,825,745 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC grew its holdings in shares of FLIR Systems by 24.1% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,277,196 shares of the scientific and technical instruments company’s stock worth $92,386,000 after purchasing an additional 441,757 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its holdings in shares of FLIR Systems by 11.1% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,215,982 shares of the scientific and technical instruments company’s stock worth $89,902,000 after purchasing an additional 220,942 shares in the last quarter. 88.43% of the stock is currently owned by institutional investors.

FLIR has been the subject of a number of recent research reports. BidaskClub raised FLIR Systems from a “sell” rating to a “hold” rating in a research note on Wednesday, September 23rd. ValuEngine downgraded FLIR Systems from a “hold” rating to a “sell” rating in a research note on Friday, October 2nd. Needham & Company LLC raised their price objective on FLIR Systems from $52.00 to $55.00 and gave the company a “buy” rating in a research note on Thursday, July 16th. Canaccord Genuity reissued a “buy” rating on shares of FLIR Systems in a research note on Thursday, August 27th. Finally, Imperial Capital raised FLIR Systems from an “in-line” rating to an “outperform” rating in a research note on Friday, July 24th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $50.00.

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.

See Also: Earnings Per Share (EPS)

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