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Heico Stock Drops After Mixed Quarterly Report
HEIHEICO (HEI) Schaeffers Investment Research·2024-08-27 14:19

Group 1 - Heico Corp reported a mixed fiscal third-quarter performance, with earnings exceeding Wall Street estimates but revenue falling short of expectations despite strong organic growth in the Flight Support Group segment [1] - The stock is currently trading at 238.74,down2.9238.74, down 2.9%, and remains close to its record high of 258.84 achieved on August 15, reflecting a year-to-date gain of 32.6% [2] - The stock has shown strong bullish sentiment, with a 50-day call/put volume ratio of 7.26, indicating that bullish bets have dominated over the last 10 weeks [3] Group 2 - The 60-day moving average is providing support for the stock during the current pullback, with the stock having closed below this trendline only a few times since the beginning of 2024 [2] - Heico's stock performance is notable as it has maintained a strong position in the market, with bullish options activity suggesting investor confidence [3]