Heico Corporation (HEI): Today's Featured Aerospace/Defense Winner
Heico Corporation (HEI) pushed the Aerospace/Defense industry higher today making it today's featured aerospace/defense winner. The industry as a whole closed the day up 0.2%. By the end of trading, Heico Corporation rose 53 cents (0.9%) to $58.85 on light volume. Throughout the day, 70,724 shares of Heico Corporation exchanged hands as compared to its average daily volume of 203,600 shares. The stock ranged in a price between $58.32-$59.63 after having opened the day at $59.37 as compared to the previous trading day's close of $58.32. Other companies within the Aerospace/Defense industry that increased today were: Aerosonic Corporation (AIM), up 17.7%, Ducommun Inc (DCO), up 4.1%, AerCap Holdings N.V (AER), up 2.9%, and Breeze-Eastern Corporation (BZC), up 2.6%. HEICO Corporation, through its subsidiaries, engages in the design, manufacture, and sale of aerospace, defense, and electronic related products and services in the United States and internationally. Heico Corporation has a market cap of $2.48 billion and is part of the industrial goods sector. The company has a P/E ratio of 36, equal to the average aerospace/defense industry P/E ratio and above the S&P 500 P/E ratio of 17.7. Shares are up 42.9% year to date as of the close of trading on Thursday. TheStreet Ratings rates Heico as a buy. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures, impressive record of earnings per share growth, compelling growth in net income and good cash flow from operations. We feel these strengths outweigh the fact that the company is trading at a premium valuation based on our review of its current price compared to such things as earnings and book value.
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