HEICO Co. (NYSE:HEI) Short Interest Update

HEICO Co. (NYSE:HEI) was the target of a large decline in short interest during the month of September. As of September 15th, there was short interest totalling 1,920,000 shares, a decline of 9.4% from the August 31st total of 2,120,000 shares. Currently, 4.6% of the company’s stock are sold short. Based on an average daily trading volume, of 392,600 shares, the days-to-cover ratio is currently 4.9 days.

HEICO Stock Performance

HEICO stock traded up $0.80 on Tuesday, hitting $262.28. The company’s stock had a trading volume of 272,552 shares, compared to its average volume of 381,810. The company has a fifty day moving average price of $247.67 and a 200-day moving average price of $224.56. The firm has a market cap of $36.32 billion, a P/E ratio of 82.48, a price-to-earnings-growth ratio of 3.79 and a beta of 1.22. HEICO has a one year low of $155.42 and a one year high of $269.38. The company has a quick ratio of 1.47, a current ratio of 3.30 and a debt-to-equity ratio of 0.63.

HEICO (NYSE:HEI) last announced 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. HEICO had a net margin of 12.64% and a return on equity of 14.51%. The firm had revenue of $992.20 million during the quarter, compared to analysts’ expectations of $995.34 million. During the same quarter last year, the company earned $0.77 earnings per share. The company’s revenue for the quarter was up 37.3% compared to the same quarter last year. On average, equities analysts anticipate that HEICO will post 3.64 earnings per share for the current year.

Insider Activity

In related news, insider Eric A. Mendelson sold 53,510 shares of the stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $182.02, for a total value of $9,739,890.20. Following the transaction, the insider now owns 168,891 shares in the company, valued at $30,741,539.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, insider Eric A. Mendelson sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $186.09, for a total value of $3,721,800.00. Following the completion of the sale, the insider now directly owns 148,891 shares in the company, valued at approximately $27,707,126.19. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Eric A. Mendelson sold 53,510 shares of the company’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $182.02, for a total value of $9,739,890.20. Following the sale, the insider now directly owns 168,891 shares of the company’s stock, valued at approximately $30,741,539.82. The disclosure for this sale can be found here. Insiders sold a total of 82,374 shares of company stock worth $15,061,997 in the last three months. 8.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of HEI. AGF Management Ltd. grew its holdings in shares of HEICO by 61.7% in the 2nd quarter. AGF Management Ltd. now owns 949,945 shares of the aerospace company’s stock worth $212,417,000 after purchasing an additional 362,625 shares during the last quarter. Capital World Investors increased its holdings in shares of HEICO by 10.5% during the fourth quarter. Capital World Investors now owns 3,276,326 shares of the aerospace company’s stock worth $586,036,000 after buying an additional 311,304 shares in the last quarter. Vantage Investment Partners LLC bought a new position in shares of HEICO in the second quarter valued at approximately $26,993,000. Driehaus Capital Management LLC boosted its stake in HEICO by 66.0% in the second quarter. Driehaus Capital Management LLC now owns 193,895 shares of the aerospace company’s stock worth $43,357,000 after purchasing an additional 77,067 shares in the last quarter. Finally, EULAV Asset Management grew its holdings in shares of HEICO by 23.4% during the first quarter. EULAV Asset Management now owns 352,093 shares of the aerospace company’s stock worth $67,250,000 after purchasing an additional 66,800 shares during the last quarter. 27.12% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

HEI has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft lifted their target price on shares of HEICO from $235.00 to $271.00 and gave the stock a “buy” rating in a report on Wednesday, September 4th. Bank of America boosted their price objective on HEICO from $250.00 to $285.00 and gave the stock a “buy” rating in a research report on Thursday, September 19th. Barclays started coverage on HEICO in a report on Monday, August 19th. They issued an “equal weight” rating and a $250.00 target price on the stock. Morgan Stanley upgraded HEICO from an “underweight” rating to an “equal weight” rating and upped their price target for the stock from $178.00 to $225.00 in a report on Tuesday, June 4th. Finally, Benchmark restated a “buy” rating and issued a $245.00 price objective on shares of HEICO in a research note on Tuesday, August 27th. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $263.56.

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.