Short Interest in HEICO Co. (NYSE:HEI) Expands By 7.7%

HEICO Co. (NYSE:HEI) saw a significant increase in short interest in 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 days-to-cover ratio is currently 5.2 days. Currently, 4.6% of the shares of the stock are sold short.

HEICO Stock Down 0.0 %

HEI opened at $269.65 on Tuesday. The stock’s fifty day simple moving average is $259.92 and its 200 day simple moving average is $239.87. HEICO has a 1-year low of $167.56 and a 1-year high of $281.15. The stock has a market cap of $37.37 billion, a PE ratio of 79.11, a price-to-earnings-growth ratio of 3.28 and a beta of 1.23. The company has a current ratio of 3.30, a quick ratio of 1.47 and a debt-to-equity ratio of 0.63.

HEICO (NYSE:HEI) last posted its earnings results on Monday, August 26th. The aerospace company reported $0.97 earnings per share (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 company 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 posted $0.77 EPS. HEICO’s quarterly revenue was up 37.3% compared to the same quarter last year. As a group, research analysts expect that HEICO will post 3.65 earnings per share for the current year.

Analyst Ratings Changes

HEI has been the topic of several research analyst reports. Robert W. Baird raised their target price on shares of HEICO from $243.00 to $280.00 and gave the stock an “outperform” rating in a report on Wednesday, August 28th. Royal Bank of Canada increased their price objective on shares of HEICO from $250.00 to $272.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 28th. Deutsche Bank Aktiengesellschaft lifted their target price on HEICO from $235.00 to $271.00 and gave the company a “buy” rating in a research report on Wednesday, September 4th. Bank of America raised their price target on HEICO from $250.00 to $285.00 and gave the company a “buy” rating in a research note on Thursday, September 19th. Finally, Truist Financial upped their price objective on HEICO from $264.00 to $282.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, HEICO currently has an average rating of “Moderate Buy” and a consensus price target of $270.70.

Insiders Place Their Bets

In other HEICO news, insider Victor H. Mendelson acquired 726 shares of HEICO stock in a transaction on Friday, October 18th. The shares were purchased at an average cost of $262.94 per share, with a total value of $190,894.44. Following the completion of the purchase, the insider now owns 1,234,950 shares in the company, valued at $324,717,753. The trade was a 0.06 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Alan Schriesheim bought 724 shares of the business’s stock in a transaction on Friday, October 18th. The stock was bought at an average cost of $262.94 per share, for a total transaction of $190,368.56. Following the purchase, the director now directly owns 174,878 shares of the company’s stock, valued at approximately $45,982,421.32. This trade represents a 0.42 % increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 2,650 shares of company stock valued at $691,718. 8.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On HEICO

Institutional investors have recently made changes to their positions in the company. Coldstream Capital Management Inc. increased its stake in shares of HEICO by 6.6% during the third quarter. Coldstream Capital Management Inc. now owns 1,719 shares of the aerospace company’s stock worth $451,000 after purchasing an additional 106 shares during the period. Orion Portfolio Solutions LLC bought a new position in HEICO during the 3rd quarter worth $247,000. Two Sigma Advisers LP increased its position in HEICO by 3.7% during the 3rd quarter. Two Sigma Advisers LP now owns 362,878 shares of the aerospace company’s stock worth $94,885,000 after buying an additional 13,100 shares during the period. Polar Asset Management Partners Inc. acquired a new stake in shares of HEICO during the third quarter worth $3,007,000. Finally, Morse Asset Management Inc boosted its position in shares of HEICO by 0.6% in the third quarter. Morse Asset Management Inc now owns 6,207 shares of the aerospace company’s stock valued at $1,623,000 after acquiring an additional 38 shares during the period. Institutional investors own 27.12% of the company’s stock.

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.