HEICO Co. (NYSE:HEI) Short Interest Up 7.7% in October

HEICO Co. (NYSE:HEI) saw a significant growth in short interest in the month of October. As of October 31st, there was short interest totalling 1,950,000 shares, a growth of 7.7% from the October 15th total of 1,810,000 shares. Based on an average trading volume of 374,500 shares, the short-interest ratio is presently 5.2 days. Approximately 4.6% of the shares of the company are short sold.

Analysts Set New Price Targets

A number of analysts have recently issued reports on HEI shares. Benchmark restated a “buy” rating and set a $245.00 price objective on shares of HEICO in a research report on Tuesday, August 27th. Barclays started coverage on shares of HEICO in a research note on Monday, August 19th. They issued an “equal weight” rating and a $250.00 price objective for the company. Truist Financial lifted their target price on shares of HEICO from $264.00 to $282.00 and gave the company a “buy” rating in a research report on Friday, October 18th. Stifel Nicolaus increased their price target on shares of HEICO from $250.00 to $280.00 and gave the stock a “buy” rating in a research report on Tuesday, August 27th. Finally, Bank of America raised their price target on shares of HEICO from $250.00 to $285.00 and gave the stock a “buy” rating in a research note on Thursday, September 19th. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $270.70.

HEICO Price Performance

HEICO stock traded down $0.65 during trading hours on Monday, hitting $269.76. 496,596 shares of the stock were exchanged, compared to its average volume of 384,655. HEICO has a 12 month low of $167.56 and a 12 month high of $281.15. The business’s 50-day moving average is $259.92 and its two-hundred day moving average is $239.87. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.47 and a current ratio of 3.30. The stock has a market capitalization of $37.39 billion, a P/E ratio of 79.11, a P/E/G ratio of 3.28 and a beta of 1.23.

HEICO (NYSE:HEI) last released its quarterly earnings results on Monday, August 26th. The aerospace company reported $0.97 EPS for the quarter, topping analysts’ consensus estimates of $0.92 by $0.05. The business had revenue of $992.20 million for the quarter, compared to analyst estimates of $995.34 million. HEICO had a return on equity of 14.51% and a net margin of 12.64%. HEICO’s revenue for the quarter was up 37.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.77 EPS. Equities research analysts expect that HEICO will post 3.65 EPS for the current fiscal year.

Insider Buying and Selling at HEICO

In other news, Director Alan Schriesheim bought 724 shares of the firm’s stock in a transaction that occurred on Friday, October 18th. The shares were acquired at an average cost of $262.94 per share, with a total value of $190,368.56. Following the completion of the transaction, the director now directly owns 174,878 shares in the company, valued at $45,982,421.32. This represents a 0.42 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Victor H. Mendelson purchased 726 shares of the business’s stock in a transaction on Friday, October 18th. The stock was purchased at an average cost of $262.94 per share, with a total value of $190,894.44. Following the acquisition, the insider now owns 1,234,950 shares in the company, valued at approximately $324,717,753. This represents a 0.06 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought 2,650 shares of company stock worth $691,718 over the last ninety days. Company insiders own 8.10% of the company’s stock.

Institutional Trading of HEICO

Several hedge funds have recently modified their holdings of HEI. Empowered Funds LLC bought a new position in HEICO in the 1st quarter valued at $388,000. Avantax Advisory Services Inc. increased its position in HEICO by 12.9% in the first quarter. Avantax Advisory Services Inc. now owns 1,437 shares of the aerospace company’s stock worth $275,000 after purchasing an additional 164 shares during the period. Advisors Asset Management Inc. raised its holdings in HEICO by 3.6% during the 1st quarter. Advisors Asset Management Inc. now owns 15,926 shares of the aerospace company’s stock worth $3,042,000 after purchasing an additional 548 shares during the last quarter. Capital International Ltd. CA lifted its position in HEICO by 2.7% during the 1st quarter. Capital International Ltd. CA now owns 30,335 shares of the aerospace company’s stock valued at $5,794,000 after purchasing an additional 787 shares during the period. Finally, Quadrature Capital Ltd bought a new position in shares of HEICO in the 1st quarter valued at about $2,796,000. 27.12% of the stock is owned by institutional investors.

HEICO Company Profile

HEICO Corporation, through its subsidiaries, designs, manufactures, and sells aerospace, defense, and electronic related products and services in the United States and internationally. Its Flight Support Group segment provides jet engine and aircraft component replacement parts; thermal insulation blankets and parts; renewable/reusable insulation systems; and specialty components.