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

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

Insider Activity

In related news, Director Alan Schriesheim sold 332 shares of HEICO stock in a transaction on Monday, October 7th. The stock was sold at an average price of $201.63, for a total value of $66,941.16. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Laurans A. Mendelson acquired 725 shares of HEICO stock in a transaction on Friday, October 18th. The shares were bought at an average price of $262.94 per share, for a total transaction of $190,631.50. Following the purchase, the chief executive officer now owns 929,984 shares of the company’s stock, valued at $244,529,992.96. This represents a 0.08 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired a total of 2,650 shares of company stock valued at $691,718 over the last quarter. Company insiders own 8.10% of the company’s stock.

Hedge Funds Weigh In On HEICO

Large investors have recently modified their holdings of the company. Andra AP fonden purchased a new stake in HEICO in the second quarter valued at approximately $45,000. Center for Financial Planning Inc. purchased a new stake in HEICO in the second quarter valued at approximately $52,000. American National Bank purchased a new stake in HEICO in the second quarter valued at approximately $66,000. Strategic Financial Concepts LLC purchased a new position in shares of HEICO during the second quarter worth approximately $67,000. Finally, FSC Wealth Advisors LLC purchased a new position in shares of HEICO in the second quarter worth $73,000. 27.12% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft upped their target price on HEICO from $235.00 to $271.00 and gave the company a “buy” rating in a report on Wednesday, September 4th. Barclays initiated coverage on HEICO in a research report on Monday, August 19th. They issued an “equal weight” rating and a $250.00 target price for the company. Stifel Nicolaus upped their price target on HEICO from $250.00 to $280.00 and gave the company a “buy” rating in a report on Tuesday, August 27th. Truist Financial lifted their price target on HEICO from $264.00 to $282.00 and gave the company a “buy” rating in a report on Friday, October 18th. Finally, Benchmark reiterated a “buy” rating and issued a $245.00 target price on shares of HEICO in a report on Tuesday, August 27th. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, HEICO presently has an average rating of “Moderate Buy” and a consensus price target of $270.70.

HEICO Price Performance

HEI stock opened at $269.76 on Tuesday. HEICO has a 1 year low of $167.56 and a 1 year high of $281.15. The company has a debt-to-equity ratio of 0.63, a current ratio of 3.30 and a quick ratio of 1.47. The stock has a market cap of $37.39 billion, a price-to-earnings ratio of 79.11, a P/E/G ratio of 3.28 and a beta of 1.23. The company has a 50 day simple moving average of $259.92 and a 200 day simple moving average of $239.87.

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

About HEICO

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.