Price Action Report: What’s Next for Heico Corp After Making 52-Week High?

Price Action Report: What's Next for Heico Corp After Making 52 Week High?

The stock of Heico Corp (NYSE:HEI) hit a new 52-week high and has $107.30 target or 42.00% above today’s $75.56 share price. The 6 months bullish chart indicates low risk for the $4.67 billion company. The 1-year high was reported on Nov, 21 by Barchart.com. If the $107.30 price target is reached, the company will be worth $1.96 billion 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 41,787 shares traded hands. Heico Corp (NYSE:HEI) has risen 23.95% since April 19, 2016 and is uptrending. It has outperformed by 20.09% the S&P500.

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. Heico Corporation has been the topic of 9 analyst reports since August 24, 2015 according to StockzIntelligence Inc. The rating was upgraded by Bank of America on Tuesday, December 22 to “Buy”. As per Tuesday, August 30, the company rating was downgraded by Bank of America. Zacks downgraded the stock to “Hold” rating in Thursday, August 27 report. On Thursday, August 27 the stock rating was maintained by Canaccord Genuity with “Buy”. The firm has “Hold” rating given on Thursday, August 27 by Jefferies. On Friday, August 26 the stock rating was downgraded by KeyBanc Capital Markets to “Sector Weight”. Canaccord Genuity maintained Heico Corp (NYSE:HEI) rating on Monday, August 24. Canaccord Genuity has “Buy” rating and $68 price target.

According to Zacks Investment Research, “HEICO Corporation operates as a technology-driven aerospace, industrial, defense and electronics company. The Company conducts its business through two segments the Flight Support Group and the Electronic Technologies Group. The Flight Support Group design, engineers, manufactures, repairs, distributes and overhauls FAA-approved parts encompassing the entire aircraft. Electronic Technologies Group produces electrical and electro-optical systems and components serving niche segments of the aerospace, defense, communications, and computer industries. It design, manufacture and sells electrically and electro-optical engineered products used in the aerospace, defense, space, and electronics industries. The Company primarily serves commercial and cargo airlines, repair and overhaul facilities, other aftermarket suppliers of aircraft engine and airframe materials, military units, and electronic manufacturing service companies. HEICO Corporation is headquartered in Hollywood, Florida.”

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

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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