Short Interest in HEICO Co. (NYSE:HEI) Declines By 9.4%

HEICO Co. (NYSE:HEI) saw a large decrease in short interest during the month of September. As of September 15th, there was short interest totalling 1,920,000 shares, a decrease 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 trading volume of 392,600 shares, the short-interest ratio is presently 4.9 days.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on HEI. Deutsche Bank Aktiengesellschaft boosted their target price on HEICO from $235.00 to $271.00 and gave the stock a “buy” rating in a research note on Wednesday, September 4th. Stifel Nicolaus upped their price objective on HEICO from $250.00 to $280.00 and gave the company a “buy” rating in a research note on Tuesday, August 27th. Morgan Stanley raised shares of HEICO from an “underweight” rating to an “equal weight” rating and boosted their price target for the stock from $178.00 to $225.00 in a report on Tuesday, June 4th. Royal Bank of Canada raised their price objective on shares of HEICO from $250.00 to $272.00 and gave the stock an “outperform” rating in a report on Wednesday, August 28th. Finally, Robert W. Baird lifted their price objective on shares of HEICO from $243.00 to $280.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 28th. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $263.56.

Insider Buying and Selling

In related news, Director Frank J. Schwitter purchased 475 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was acquired at an average price of $252.26 per share, for a total transaction of $119,823.50. Following the purchase, the director now owns 1,730 shares of the company’s stock, valued at $436,409.80. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, insider Eric A. Mendelson sold 53,510 shares of the stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $182.02, for a total value of $9,739,890.20. Following the completion of the sale, the insider now owns 168,891 shares in the company, valued at $30,741,539.82. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Frank J. Schwitter purchased 475 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were purchased at an average price of $252.26 per share, for a total transaction of $119,823.50. Following the completion of the acquisition, the director now owns 1,730 shares of the company’s stock, valued at approximately $436,409.80. The disclosure for this purchase can be found here. Insiders have sold 82,374 shares of company stock worth $15,061,997 in the last quarter. Insiders own 8.10% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of HEI. Andra AP fonden purchased a new stake in shares of HEICO in the second quarter worth $45,000. Center for Financial Planning Inc. bought a new stake in shares of HEICO during the 2nd quarter valued at about $52,000. American National Bank purchased a new position in shares of HEICO during the second quarter worth about $66,000. Strategic Financial Concepts LLC bought a new position in shares of HEICO in the second quarter worth approximately $67,000. Finally, FSC Wealth Advisors LLC purchased a new stake in HEICO in the second quarter valued at approximately $73,000. 27.12% of the stock is owned by institutional investors.

HEICO Price Performance

HEI traded up $0.80 during trading on Tuesday, reaching $262.28. 272,552 shares of the company were exchanged, compared to its average volume of 381,810. The company has a quick ratio of 1.47, a current ratio of 3.30 and a debt-to-equity ratio of 0.63. The company has a market cap of $36.32 billion, a price-to-earnings ratio of 82.48, a P/E/G ratio of 3.79 and a beta of 1.22. HEICO has a 12-month low of $155.42 and a 12-month high of $269.38. The company’s 50-day moving average is $247.67 and its two-hundred day moving average is $224.56.

HEICO (NYSE:HEI) last released its quarterly earnings data on Monday, August 26th. The aerospace company reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.92 by $0.05. The company had revenue of $992.20 million during the quarter, compared to analyst estimates of $995.34 million. HEICO had a net margin of 12.64% and a return on equity of 14.51%. HEICO’s revenue was up 37.3% compared to the same quarter last year. During the same period last year, the business earned $0.77 earnings per share. Research analysts forecast that HEICO will post 3.64 earnings per share 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.