HEICO Co. (NYSE:HEI) Sees Significant Increase in Short Interest

HEICO Co. (NYSE:HEIGet Free Report) saw a large increase in short interest in the month of May. As of May 31st, there was short interest totalling 1,620,000 shares, an increase of 6.6% from the May 15th total of 1,520,000 shares. Based on an average trading volume of 373,600 shares, the short-interest ratio is currently 4.3 days. Currently, 3.8% of the shares of the company are short sold.

HEICO Price Performance

NYSE:HEI traded up $0.85 on Wednesday, hitting $228.81. The company had a trading volume of 394,264 shares, compared to its average volume of 421,415. The firm has a 50 day moving average of $212.31 and a two-hundred day moving average of $194.30. The stock has a market capitalization of $31.69 billion, a price-to-earnings ratio of 71.95, a PEG ratio of 3.41 and a beta of 1.21. HEICO has a 52 week low of $155.42 and a 52 week high of $229.30. The company has a current ratio of 3.52, a quick ratio of 1.57 and a debt-to-equity ratio of 0.69.

HEICO (NYSE:HEIGet Free Report) last announced its quarterly earnings results on Tuesday, May 28th. The aerospace company reported $0.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.08. The company had revenue of $955.40 million during the quarter, compared to the consensus estimate of $951.24 million. HEICO had a net margin of 12.62% and a return on equity of 14.26%. The company’s revenue for the quarter was up 38.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.76 earnings per share. On average, research analysts anticipate that HEICO will post 3.53 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. Morgan Stanley upgraded shares of HEICO from an “underweight” rating to an “equal weight” rating and lifted their price objective for the stock from $178.00 to $225.00 in a research note on Tuesday, June 4th. Truist Financial reiterated a “buy” rating and issued a $240.00 price objective (up previously from $229.00) on shares of HEICO in a research note on Thursday, May 30th. Benchmark boosted their target price on shares of HEICO from $185.00 to $245.00 and gave the company a “buy” rating in a research report on Friday, June 14th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of HEICO from $209.00 to $235.00 and gave the company a “buy” rating in a research report on Tuesday, May 21st. Finally, Royal Bank of Canada boosted their target price on shares of HEICO from $235.00 to $250.00 and gave the company an “outperform” rating in a research report on Thursday, May 30th. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, HEICO presently has a consensus rating of “Moderate Buy” and an average target price of $232.67.

Check Out Our Latest Report on HEICO

Insider Activity

In other news, Director Frank J. Schwitter sold 400 shares of HEICO stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $193.70, for a total value of $77,480.00. Following the completion of the transaction, the director now owns 1,255 shares of the company’s stock, valued at approximately $243,093.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, Director Alan Schriesheim sold 26,000 shares of HEICO stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $192.18, for a total value of $4,996,680.00. Following the completion of the transaction, the director now owns 155,862 shares of the company’s stock, valued at approximately $29,953,559.16. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Frank J. Schwitter sold 400 shares of HEICO stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $193.70, for a total transaction of $77,480.00. Following the sale, the director now directly owns 1,255 shares of the company’s stock, valued at approximately $243,093.50. The disclosure for this sale can be found here. Insiders own 8.10% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of HEI. Zeno Equity Partners LLP acquired a new position in shares of HEICO during the fourth quarter worth $25,000. Psagot Value Holdings Ltd. Israel acquired a new position in shares of HEICO during the fourth quarter worth $70,000. Beaumont Financial Advisors LLC acquired a new position in shares of HEICO during the fourth quarter worth $200,000. Sequoia Financial Advisors LLC acquired a new position in shares of HEICO during the fourth quarter worth $202,000. Finally, Anchor Investment Management LLC bought a new stake in shares of HEICO in the fourth quarter worth $203,000. 27.12% of the stock is currently owned by institutional investors and hedge funds.

HEICO Company Profile

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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.

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