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

HEICO Co. (NYSE:HEI) saw a large increase in short interest in the month of October. As of October 31st, there was short interest totalling 1,640,000 shares, an increase of 5.1% from the October 15th total of 1,560,000 shares. Currently, 3.9% of the shares of the stock are sold short. Based on an average trading volume of 334,300 shares, the short-interest ratio is presently 4.9 days.

Insider Transactions at HEICO

In related news, Director Alan Schriesheim sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $164.23, for a total transaction of $328,460.00. Following the sale, the director now owns 105,111 shares of the company’s stock, valued at $17,262,379.53. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CEO Laurans A. Mendelson sold 23,477 shares of the firm’s stock in a transaction dated Tuesday, October 17th. The shares were sold at an average price of $166.20, for a total transaction of $3,901,877.40. Following the completion of the transaction, the chief executive officer now owns 1,694,451 shares in the company, valued at approximately $281,617,756.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Alan Schriesheim sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $164.23, for a total transaction of $328,460.00. Following the sale, the director now owns 105,111 shares of the company’s stock, valued at $17,262,379.53. The disclosure for this sale can be found here. Company insiders own 8.26% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Lazard Asset Management LLC boosted its holdings in HEICO by 3,192.9% in the first quarter. Lazard Asset Management LLC now owns 1,138,939 shares of the aerospace company’s stock worth $174,872,000 after purchasing an additional 1,104,351 shares in the last quarter. Select Equity Group L.P. bought a new stake in shares of HEICO during the 1st quarter worth about $85,710,000. Balyasny Asset Management L.P. increased its holdings in shares of HEICO by 336.7% during the 1st quarter. Balyasny Asset Management L.P. now owns 348,363 shares of the aerospace company’s stock valued at $59,584,000 after acquiring an additional 268,584 shares during the last quarter. Wellington Management Group LLP bought a new position in shares of HEICO in the 1st quarter valued at approximately $35,606,000. Finally, Balyasny Asset Management LLC lifted its holdings in HEICO by 2,002.7% in the 3rd quarter. Balyasny Asset Management LLC now owns 155,033 shares of the aerospace company’s stock worth $22,322,000 after purchasing an additional 147,660 shares during the last quarter. Institutional investors own 27.77% of the company’s stock.

HEICO Stock Performance

NYSE HEI remained flat at $169.97 on Friday. The company’s stock had a trading volume of 198,017 shares, compared to its average volume of 335,431. HEICO has a 1 year low of $147.69 and a 1 year high of $182.18. The firm has a 50-day simple moving average of $162.79 and a 200 day simple moving average of $167.55. The company has a debt-to-equity ratio of 0.41, a current ratio of 4.03 and a quick ratio of 2.50. The company has a market capitalization of $23.49 billion, a P/E ratio of 59.22, a price-to-earnings-growth ratio of 3.61 and a beta of 1.17.

HEICO (NYSE:HEI) last announced its quarterly earnings results on Tuesday, August 29th. The aerospace company reported $0.74 EPS for the quarter, beating the consensus estimate of $0.73 by $0.01. The business had revenue of $722.90 million during the quarter, compared to analysts’ expectations of $701.55 million. HEICO had a return on equity of 14.30% and a net margin of 15.05%. The firm’s quarterly revenue was up 26.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.60 EPS. On average, analysts anticipate that HEICO will post 2.84 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

HEI has been the topic of a number of recent analyst reports. StockNews.com began coverage on HEICO in a research report on Thursday, October 5th. They set a “hold” rating on the stock. Robert W. Baird upped their price target on shares of HEICO from $186.00 to $208.00 and gave the company an “outperform” rating in a research report on Wednesday, August 30th. Benchmark raised their target price on HEICO from $170.00 to $185.00 in a research report on Wednesday, August 30th. Morgan Stanley initiated coverage on HEICO in a research report on Friday, August 18th. They set an “equal weight” rating and a $184.00 price target on the stock. Finally, The Goldman Sachs Group lifted their target price on HEICO from $204.00 to $206.00 in a research note on Friday, August 11th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $198.10.

HEICO Company Profile

HEICO Corporation, through its subsidiaries, designs, manufactures, and sells aerospace, defense, and electronic related products and services. The company's Flight Support Group segment provides jet engine and aircraft component replacement parts; thermal insulation blankets and parts; renewable/reusable insulation systems; and specialty components.