Heico (NYSE:HEI) Given New $330.00 Price Target at TD Cowen

Key Points

• TD Cowen lowered Heico’s price target from $350 to $330 and maintained a “hold” rating, implying approximately 11% upside from the prior close.
• Analyst sentiment remains generally positive, with a “Moderate Buy” consensus rating and an average price target of $387, though targets range from $330 to $491.
• Heico exceeded quarterly expectations, reporting $1.67 in adjusted earnings per share versus a $1.51 consensus estimate and $1.41 billion in revenue, up 23.1% year over year.

Heico (NYSE:HEI - Get Free Report) had its price target lowered by equities researchers at TD Cowen from $350.00 to $330.00 in a report issued on Friday, Benzinga reports. The firm currently has a "hold" rating on the aerospace company's stock. TD Cowen's target price would suggest a potential upside of 11.06% from the company's previous close.

A number of other analysts also recently commented on HEI. Jefferies Financial Group set a $430.00 target price on shares of Heico and gave the stock a "buy" rating in a report on Wednesday, August 26th. Stifel Nicolaus set a $410.00 target price on shares of Heico in a report on Thursday, August 27th. Wells Fargo & Company decreased their price target on shares of Heico from $350.00 to $335.00 and set an "equal weight" rating on the stock in a research report on Wednesday, September 30th. The Goldman Sachs Group reaffirmed a "buy" rating and issued a $491.00 price target on shares of Heico in a report on Monday, August 31st. Finally, Wall Street Zen downgraded Heico from a "buy" rating to a "hold" rating in a research report on Saturday, October 3rd. Three equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and seven have issued a Hold rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $387.00.

Heico Price Performance

Shares of HEI traded up $1.24 during midday trading on Friday, reaching $297.15. The stock had a trading volume of 33,064 shares, compared to its average volume of 578,424. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.72 and a quick ratio of 1.27. The company has a market capitalization of $41.53 billion, a P/E ratio of 49.43, a P/E/G ratio of 2.49 and a beta of 1.09. The firm's 50 day moving average price is $330.66 and its 200-day moving average price is $319.86. Heico has a 52 week low of $256.11 and a 52 week high of $376.86.

Heico (NYSE:HEI - Get Free Report) last announced its earnings results on Tuesday, August 25th. The aerospace company reported $1.67 earnings per share for the quarter, beating the consensus estimate of $1.51 by $0.16. Heico had a return on equity of 18.00% and a net margin of 16.38%.The business had revenue of $1.41 billion during the quarter, compared to analysts' expectations of $1.36 billion. During the same quarter last year, the business posted $1.26 earnings per share. The company's quarterly revenue was up 23.1% on a year-over-year basis. On average, analysts forecast that Heico will post 6.25 earnings per share for the current fiscal year.

Institutional Trading of Heico

Several hedge funds and other institutional investors have recently modified their holdings of HEI. City Center Advisors LLC purchased a new position in shares of Heico during the 3rd quarter valued at $273,000. Bath Savings Trust Co raised its holdings in shares of Heico by 5.4% during the third quarter. Bath Savings Trust Co now owns 49,570 shares of the aerospace company's stock worth $15,029,000 after acquiring an additional 2,542 shares in the last quarter. CX Institutional boosted its position in Heico by 12.7% during the third quarter. CX Institutional now owns 938 shares of the aerospace company's stock valued at $276,000 after purchasing an additional 106 shares during the last quarter. Van Hulzen Asset Management LLC purchased a new position in Heico in the second quarter valued at about $431,000. Finally, WINTON GROUP Ltd grew its stake in Heico by 124.4% in the second quarter. WINTON GROUP Ltd now owns 4,758 shares of the aerospace company's stock valued at $1,695,000 after purchasing an additional 2,638 shares in the last quarter. Institutional investors and hedge funds own 27.12% of the company's stock.

About Heico

HEICO Corporation is an aerospace, defense, and electronics company that designs, manufactures, and distributes specialized products for commercial aviation, defense, space, medical, telecommunications, and other industrial markets. Founded in 1957, the company is headquartered in Hollywood, Florida, and serves customers worldwide, including airlines, original equipment manufacturers, government agencies, and defense contractors.

HEICO operates through two primary segments. Its Flight Support Group produces FAA-approved replacement parts for jet engines and aircraft components, as well as provides aircraft and engine component repair, overhaul, and maintenance services.

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