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HEI is Low
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I am debating whether to sell some (or all) of HEICO Corp. (HEI) which is at present the worst-performing stock in my StrategyLab Fund. On July 31, 2007, this was one of my very first picks for SLO1. At that time I was looking for both value and growth (still am) while avoiding US stocks in housing, commercial REITs, utilities, banks, brokerages and insurance companies due to the upcoming financial crisis. (As a side note, utilities subsequently did OK in spite of a prediction that they would be adversely affected by a credit crunch.) Heico, which describes itself as an "aerospace, defense and electronics company", did relatively OK in the bear market until a recent, huge, unexplained stock plunge. Although they issued guidance for '08 indicating they'd be slightly below analysts' expectations, there was no really bad news that I could see. On the contrary, the quarterly EPS was up from this time last year. Well, the decline could be part of the general airline industry sector drop. Basically, this company makes discount, brand-knockoff, airplane parts. As the Wal-Mart of the aircraft industry I think it should do well in coming months. Airlines will be looking for the cheapest parts they can get. They'll refurbish old planes instead of buying new. When they sell off some of their fleet at bargain prices the new owners will want to renovate inexpensively. Nevertheless, the stock is down. | ||
