Short Interest in HEICO Co. (NYSE:HEI) Rises By 29.2%

HEICO Co. (NYSE:HEI) was the target of a significant growth in short interest in November. As of November 15th, there was short interest totalling 2,520,000 shares, a growth of 29.2% from the October 31st total of 1,950,000 shares. Approximately 6.0% of the shares of the stock are sold short. Based on an average daily trading volume, of 403,500 shares, the days-to-cover ratio is presently 6.2 days.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Bank of America boosted their target price on HEICO from $250.00 to $285.00 and gave the stock a “buy” rating in a report on Thursday, September 19th. Robert W. Baird lifted their price target on HEICO from $243.00 to $280.00 and gave the stock an “outperform” rating in a report on Wednesday, August 28th. Barclays assumed coverage on shares of HEICO in a report on Monday, August 19th. They issued an “equal weight” rating and a $250.00 price objective for the company. Royal Bank of Canada lifted their target price 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. Finally, Morgan Stanley increased their price target on shares of HEICO from $245.00 to $265.00 and gave the company an “equal weight” rating in a research note on Friday, October 18th. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $270.70.

HEICO Stock Up 0.7 %

Shares of NYSE HEI opened at $273.37 on Monday. 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 business’s 50 day moving average is $262.68 and its two-hundred day moving average is $243.68. HEICO has a 52-week low of $169.08 and a 52-week high of $283.60. The firm has a market cap of $37.89 billion, a price-to-earnings ratio of 80.17, a PEG ratio of 3.32 and a beta of 1.23.

Insider Activity

In other news, insider Victor H. Mendelson purchased 726 shares of the company’s stock in a transaction that occurred on Friday, October 18th. The stock was purchased at an average cost of $262.94 per share, for a total transaction of $190,894.44. Following the completion of the transaction, the insider now owns 1,234,950 shares of the company’s stock, valued at $324,717,753. This trade represents a 0.06 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Laurans A. Mendelson acquired 725 shares of the firm’s stock in a transaction on Friday, October 18th. The stock was purchased at an average price of $262.94 per share, for a total transaction of $190,631.50. Following the acquisition, the chief executive officer now directly owns 929,984 shares in the company, valued at $244,529,992.96. This represents a 0.08 % increase in their position. The disclosure for this purchase can be found here. Insiders acquired 2,650 shares of company stock worth $691,718 over the last three months. 8.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On HEICO

Institutional investors and hedge funds have recently modified their holdings of the company. Andra AP fonden acquired a new position in HEICO in the 2nd quarter valued at about $45,000. Center for Financial Planning Inc. purchased a new stake in HEICO during the 2nd quarter worth approximately $52,000. American National Bank acquired a new stake in HEICO during the 2nd quarter worth approximately $66,000. Rakuten Securities Inc. purchased a new position in HEICO in the 3rd quarter valued at approximately $81,000. Finally, FSC Wealth Advisors LLC acquired a new position in shares of HEICO in the second quarter worth $73,000. Hedge funds and other 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.