Stock Worth Watching: Could Heico Corp See a Reversal After Breaking Its 52-Week High?

Stock Worth Watching: Could Heico Corp See a Reversal After Breaking Its 52 Week High?

The stock of Heico Corp (NYSE:HEI) hit a new 52-week high and has $83.22 target or 5.00% above today’s $79.26 share price. The 9 months bullish chart indicates low risk for the $4.88B company. The 1-year high was reported on Nov, 28 by Barchart.com. If the $83.22 price target is reached, the company will be worth $244.00 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 164,288 shares traded hands or 34.21% up from the average. Heico Corp (NYSE:HEI) has risen 32.27% since April 25, 2016 and is uptrending. It has outperformed by 26.26% the S&P500.

Analysts await Heico Corp (NYSE:HEI) to report earnings on December, 20. They expect $0.60 EPS, up 7.14% or $0.04 from last year’s $0.56 per share. HEI’s profit will be $36.94 million for 33.03 P/E if the $0.60 EPS becomes a reality. After $0.62 actual EPS reported by Heico Corp for the previous quarter, Wall Street now forecasts -3.23% negative EPS growth.

Heico Corp (NYSE:HEI) Ratings Coverage

Out of 4 analysts covering Heico Corporation (NYSE:HEI), 1 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 25% are positive. $68 is the highest target while $57 is the lowest. The $63.67 average target is -19.67% below today’s ($79.26) stock price. Heico Corporation has been the topic of 9 analyst reports since August 24, 2015 according to StockzIntelligence Inc. The firm earned “Hold” rating on Thursday, August 27 by Zacks. Jefferies maintained the shares of HEI in a report on Thursday, August 27 with “Hold” rating. Canaccord Genuity maintained the stock with “Buy” rating in Monday, August 24 report. KeyBanc Capital Markets downgraded the shares of HEI in a report on Friday, August 26 to “Sector Weight” rating. The company was maintained on Thursday, August 27 by Canaccord Genuity. The rating was downgraded by Bank of America to “Neutral” on Tuesday, August 30. The rating was upgraded by Bank of America to “Buy” on Tuesday, December 22.

According to Zacks Investment Research, “Heico Corporation is engaged primarily in certain niche segments of the aviation, defense, space and electronics industries through its Hollywood, FL-based HEICO Aerospace Holdings Corp. subsidiary and its Miami, FL-based HEICO Electronic Technologies Corp. subsidiary. HEICO’s customers include a majority of the world’s airlines and airmotives as well as numerous defense and space contractors and military agencies worldwide in addition to telecommunications, electronics and medical equipment manufacturers.”

Insitutional Activity: The institutional sentiment decreased to 1.17 in 2016 Q2. Its down 0.03, from 1.2 in 2016Q1. The ratio dropped, as 15 funds sold all Heico Corp shares owned while 54 reduced positions. 30 funds bought stakes while 53 increased positions. They now own 18.67 million shares or 2.72% less from 19.19 million shares in 2016Q1.
Driehaus Capital Mngmt Ltd accumulated 39,028 shares or 0.09% of the stock. Retail Bank Of Montreal Can accumulated 82,253 shares or 0.01% of the stock. Alliancebernstein Lp holds 17,743 shares or 0% of its portfolio. Us Financial Bank De holds 0% of its portfolio in Heico Corp (NYSE:HEI) for 18,170 shares. Next Fincl Inc owns 100 shares or 0% of their US portfolio. D E Shaw & holds 0% of its portfolio in Heico Corp (NYSE:HEI) for 18,610 shares. Moreover, Tompkins Fincl Corp has 0.01% invested in Heico Corp (NYSE:HEI) for 425 shares. Savings Bank Of Ny Mellon has 0% invested in the company for 149,688 shares. Teacher Retirement Of Texas reported 2,822 shares or 0% of all its holdings. Manufacturers Life Ins The holds 0% or 29 shares in its portfolio. Moreover, Envestnet Asset Mgmt Inc has 0.02% invested in Heico Corp (NYSE:HEI) for 68,865 shares. Bell National Bank And Trust has invested 0.13% of its portfolio in Heico Corp (NYSE:HEI). Hancock Holdings accumulated 0.47% or 167,225 shares. Ameriprise Financial Inc, a Minnesota-based fund reported 87,668 shares. Checchi Advisers Ltd Liability Co owns 78 shares or 0% of their US portfolio.

Insider Transactions: Since September 7, 2016, the stock had 11 insider buys, and 2 selling transactions for $70,540 net activity. 2,044 shares were bought by MAYRHUBER WOLFGANG, worth $116,724 on Wednesday, September 7. 2,044 shares were bought by MENDELSON LAURANS A, worth $116,724 on Wednesday, September 7. Shares for $116,724 were bought by MENDELSON ERIC A on Wednesday, September 7. Neitzel Julie bought 2,119 shares worth $121,007. The insider HENRIQUES ADOLFO bought $116,724. 2,083 shares were bought by Schwitter Frank J, worth $118,951 on Wednesday, September 7. $116,724 worth of Heico Corp (NYSE:HEI) was bought by Hildebrandt Mark H on Wednesday, September 7.

More notable recent Heico Corp (NYSE:HEI) news were published by: Fool.com which released: “Acquisitions Drove Heico Corp.’s Growth in Q3” on August 25, 2016, also Fool.com with their article: “Acquisitions Key to Heico Corp Flying High” published on December 19, 2015, Fool.com published: “Expectations Continue Rising at Heico Corp” on February 26, 2016. More interesting news about Heico Corp (NYSE:HEI) were released by: Reuters.com and their article: “BRIEF-Heico Corp says unit enters into license agreement with Northrop Gru…” published on July 14, 2016 as well as Streetinsider.com‘s news article titled: “Heico Corp. (HEI) to Acquire Robertson Fuel Systems for $255M” with publication date: December 21, 2015.

HEI Company Profile

HEICO Corporation, incorporated on January 27, 1993, is an aerospace and electronics company. The Firm provides commercial aircraft replacement parts, aircraft accessories component repair and overhaul services for avionic, electro-mechanical, flight surface, hydraulic and pneumatic applications; distributes aircraft parts, and makes other critical aircraft parts. It operates through two operating divisions: the Flight Support Group (FSG) and the Electronic Technologies Group (ETG). The Firm offers products for applications, such as aircraft, spacecraft, defense equipment, medical equipment, and telecommunications systems. The Company’s Electronic Technologies Group creates and makes electronic, electro-optical, microwave and other components found in aviation, broadcast, defense, homeland security, medical, space, telecom and other complex equipment. The Company’s clients include airlines, overhaul shops, satellite manufacturers, commercial and defense equipment producers, medical equipment manufacturers, government agencies, telecommunications equipment suppliers and others.

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