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

Breaking: 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 $81.68 target or 3.00% above today’s $79.30 share price. The 7 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 $81.68 price target is reached, the company will be worth $146.40 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 164,869 shares traded hands or 34.69% 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.

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 -19.71% below today’s ($79.3) stock price. Heico Corporation has been the topic of 9 analyst reports since August 24, 2015 according to StockzIntelligence Inc. The company was maintained on Monday, August 24 by Canaccord Genuity. Zacks downgraded Heico Corp (NYSE:HEI) on Thursday, August 27 to “Hold” rating. Canaccord Genuity maintained Heico Corp (NYSE:HEI) rating on Thursday, August 27. Canaccord Genuity has “Buy” rating and $65 price target. The stock of Heico Corp (NYSE:HEI) earned “Buy” rating by Bank of America on Tuesday, December 22. KeyBanc Capital Markets downgraded Heico Corp (NYSE:HEI) on Friday, August 26 to “Sector Weight” rating. The stock of Heico Corp (NYSE:HEI) earned “Neutral” rating by Bank of America on Tuesday, August 30. The firm has “Hold” rating given on Thursday, August 27 by Jefferies.

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: “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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