Bank of America Forecasts Strong Price Appreciation for Heico (NYSE:HEI) Stock

Heico (NYSE:HEI - Get Free Report) had its price target hoisted by investment analysts at Bank of America from $320.00 to $355.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has a "buy" rating on the aerospace company's stock. Bank of America's price target suggests a potential upside of 10.83% from the stock's current price.

HEI has been the topic of a number of other reports. Wells Fargo & Company boosted their price objective on Heico from $244.00 to $278.00 and gave the company an "equal weight" rating in a research report on Friday, May 30th. Wall Street Zen upgraded Heico from a "hold" rating to a "buy" rating in a research report on Friday, June 6th. UBS Group upped their target price on shares of Heico from $264.00 to $306.00 and gave the stock a "neutral" rating in a report on Thursday, May 29th. Morgan Stanley raised their price objective on shares of Heico from $270.00 to $305.00 and gave the stock an "equal weight" rating in a report on Wednesday, June 4th. Finally, William Blair reiterated an "outperform" rating on shares of Heico in a research report on Tuesday, March 25th. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $292.36.

Heico Trading Up 0.5%

Shares of HEI stock opened at $320.30 on Thursday. The company has a market cap of $44.55 billion, a PE ratio of 74.84, a price-to-earnings-growth ratio of 4.07 and a beta of 1.08. The company has a quick ratio of 1.56, a current ratio of 3.43 and a debt-to-equity ratio of 0.56. Heico has a 12 month low of $216.68 and a 12 month high of $328.64. The business's 50 day moving average is $287.77 and its two-hundred day moving average is $259.00.

Heico (NYSE:HEI - Get Free Report) last issued its quarterly earnings results on Tuesday, May 27th. The aerospace company reported $1.12 EPS for the quarter, topping the consensus estimate of $1.03 by $0.09. Heico had a return on equity of 15.88% and a net margin of 14.54%. The company had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.06 billion. During the same period in the previous year, the business posted $0.88 EPS. The company's revenue for the quarter was up 14.9% on a year-over-year basis. Equities analysts predict that Heico will post 4.2 EPS for the current year.

Insider Buying and Selling

In other news, Director Frank J. Schwitter sold 356 shares of Heico stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $299.10, for a total transaction of $106,479.60. Following the transaction, the director directly owned 1,500 shares of the company's stock, valued at $448,650. This trade represents a 19.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Alan Schriesheim sold 50,000 shares of the business's stock in a transaction dated Tuesday, April 22nd. The shares were sold at an average price of $239.57, for a total value of $11,978,500.00. Following the completion of the transaction, the director directly owned 157,197 shares of the company's stock, valued at approximately $37,659,685.29. The trade was a 24.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 86,056 shares of company stock valued at $22,699,941 in the last 90 days. 9.55% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Wealthfront Advisers LLC increased its stake in Heico by 219,129.4% in the 4th quarter. Wealthfront Advisers LLC now owns 22,234,248 shares of the aerospace company's stock valued at $5,285,970,000 after buying an additional 22,224,106 shares during the last quarter. Bain Capital Public Equity Management II LLC bought a new stake in Heico during the fourth quarter worth about $110,503,000. EULAV Asset Management grew its stake in Heico by 1.8% in the first quarter. EULAV Asset Management now owns 461,693 shares of the aerospace company's stock valued at $123,360,000 after purchasing an additional 8,000 shares in the last quarter. Two Sigma Advisers LP increased its position in shares of Heico by 2.3% during the 4th quarter. Two Sigma Advisers LP now owns 371,178 shares of the aerospace company's stock worth $88,244,000 after purchasing an additional 8,300 shares during the last quarter. Finally, American Century Companies Inc. increased its position in shares of Heico by 11.3% during the 1st quarter. American Century Companies Inc. now owns 312,615 shares of the aerospace company's stock worth $83,528,000 after purchasing an additional 31,834 shares during the last quarter. 27.12% of the stock is owned by institutional investors and hedge funds.

About Heico

HEICO Corporation, through its subsidiaries, designs, manufactures, and sells aerospace, defense, and electronic related products and services in the United States and internationally. Its Flight Support Group segment provides jet engine and aircraft component replacement parts; thermal insulation blankets and parts; renewable/reusable insulation systems; and specialty components.

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