Stock Alert: HEICO Rises On Upbeat Results

(RTTNews) - Shares of aerospace and electronics company HEICO Corporation (HEI) are climbing more than 6% Wednesday followed by better-than-expected second-quarter results.

In the second quarter, earnings of $0.55 per share beat the average estimate of analysts polled by Thomson Reuters at$0.44.

Net sales of $468.1 million also beat the consensus estimate at $462.86 million.

"Our time-tested strategy of maintaining low debt and acquiring and operating high cash generating businesses across a diverse base of industries beyond commercial aerospace, such as defense, space and other industrial markets including electronics and medical, puts us in a good financial position to weather this period of economic uncertainty. Accordingly, we continue to forecast positive cash flow from operations for the remainder of fiscal 2020," Laurans A. Mendelson, HEICO's Chairman and CEO, commented.

HEI is currently trading at $106.09. It has traded in the range of $52.01- $147.93 in the last 52-weeks.