Short Interest in B/E Aerospace Rises By 32.0% (BEAV)
Shares of B/E Aerospace (NASDAQ:BEAV) saw a significant increase in short interest during the month of August. As of August 15th, there was short interest totalling 4,257,941 shares, an increase of 32.0% from the July 31st total of 3,226,550 shares, American Banking News.com reports. Based on an average trading volume of 1,299,922 shares, the days-to-cover ratio is presently 3.3 days. Approximately 4.1% of the shares of the company are sold short.
A number of research firms have recently commented on BEAV. Analysts at Cowen and Company reiterated an “outperform” rating on shares of B/E Aerospace in a research note on Thursday, August 14th. They now have a $93.00 price target on the stock, down previously from $104.00. Separately, analysts at CRT Capital raised their price target on shares of B/E Aerospace from $100.00 to $106.00 in a research note on Friday, August 1st. They now have a “buy” rating on the stock. Finally, analysts at RBC Capital raised their price target on shares of B/E Aerospace from $112.00 to $120.00 in a research note on Thursday, July 24th. They now have an “outperform” rating on the stock. Four research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $102.94.
Shares of B/E Aerospace (NASDAQ:BEAV) opened at 84.74 on Tuesday. B/E Aerospace has a one year low of $68.68 and a one year high of $101.13. The stock’s 50-day moving average is $87.17 and its 200-day moving average is $89.. The company has a market cap of $8.923 billion and a price-to-earnings ratio of 22.02.
B/E Aerospace (NASDAQ:BEAV) last issued its quarterly earnings data on Wednesday, July 23rd. The company reported $1.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.07 by $0.06. The company had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter in the previous year, the company posted $0.89 earnings per share. The company’s revenue for the quarter was up 28.1% on a year-over-year basis. Analysts expect that B/E Aerospace will post $4.46 EPS for the current fiscal year.
B/E Aerospace, Inc is a manufacturer of cabin interior products for commercial aircraft and business jets and distributor of aerospace fasteners and consumables.
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