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HEICO Corporation (HEI)

  • Jun. 3, 2013, 11:51 AM
    Heico (HEI +1.7%) says its Flight Support Group has completed its acquisition of Reinhold Industries from The Jordan Company. Reinhold's management will remain with the company and it doesn't expect any employee turnover as a result of the acquisition. Financial details were not disclosed, but it expects the purchase to be accretive to earnings in the first 12 months following the closing.
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  • May. 24, 2013, 4:17 PM
    DA Davidson chimes in on HEICO (HEI +1.2%) today after the company posted a solid FQ2, raising its price target from $44 to $48 and reiterating its Buy rating. The firm says the raised guidance by the company indicates strong organic growth, while the benefits from its Reinhold acquisition also appear to be gaining traction as well. Credit Suisse also upped its price target on the shares as well on the strong quarter from $43 to $50.
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  • May. 23, 2013, 11:46 AM
    HEICO (HEI +10.8%) jumps to new 52-week highs today, after the company reported late Wednesday FQ2 earnings that easily topped Street estimates. Revenue grew by 10% Y/Y, driven by strong organic growth in both its Flight Support and Electronic Technologies segments, as well as better margins. Looking ahead, the company says it sees increases in airline capacity and maintenance spending to yield moderate organic growth, and it raises FY13 growth guidance from around 6% to 8% to between 8% and 10%.
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  • Aug. 23, 2012, 12:47 PM
    Heico (HEI +10%) gains despite posting a mixed FQ3, beating on a per share basis but coming up short on revenue. Net profit rose 13% Y/Y however, as the aircraft parts and repair company recorded stronger sales from its electronic-technologies business, marking its tenth consecutive quarter of sales growth. Gross margins also widened to 37.3% from 35.4%.
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  • Jun. 21, 2012, 10:54 AM
    HEICO (HEI -3.5%) slides after Credit Suisse cut the shares to Neutral on valuation earlier today, citing a slowdown in the company's aftermarket growth. The firm also cuts its price target to $43 from $50.
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  • Dec. 19, 2011, 1:10 PM
    Aircraft component maker Heico (HEI -0.3%) drifts lower after Auriga cut the shares to Hold on valuation, saying the company is looking at tough Y/Y comparisons in its Flight Support Group in 2012.
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  • Dec. 14, 2011, 1:53 PM
    Aircraft component maker Heico (HEI +1.3%) outperforms after obtaining a $670M unsecured credit facility, good through Dec. 2016. The facility replaces one worth $300M, and will feature interest rates of 75-225 bps above LIBOR.
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  • Aug. 25, 2011, 11:22 AM
    Heico (HEI +3.1%beat FQ3 estimates as earnings jumped 37% on record quarterly sales from its commercial aviation division. The company also raises guidance for H2, now saying net income will rise 29% versus previous expectations of 20%, and sales will be up 20%.
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  • Aug. 23, 2011, 4:28 PM
    Defense and aerospace manufacturer HEICO (HEI +12.3%) closes higher after Wedbush upgraded the shares to outperform earlier today, citing the company's strong fundamentals and free cash flow.
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Company Description
Heico Corp through its subsidiaries is engaged in the design, manufacture and sale of aerospace, defense and electronic related products and services throughout the United States and internationally.