Heico Corporation (NYSE:HEI) Given Average Rating of "Moderate Buy" by Analysts

Key Points

• Analysts maintain a “Moderate Buy” consensus on Heico, with nine buy ratings, three strong-buy ratings and four holds. The average 12-month price target is approximately $395.71.
• Heico exceeded quarterly expectations, reporting $1.67 EPS versus the $1.51 consensus and revenue of $1.41 billion versus $1.36 billion expected; revenue increased 23.1% year over year.
• The stock opened at $325.23, with a market capitalization of about $45.42 billion and a P/E ratio of 54.11. Institutional investors continue to hold significant positions, owning 27.12% of the company.

Shares of Heico Corporation (NYSE:HEI - Get Free Report) have received a consensus recommendation of "Moderate Buy" from the sixteen brokerages that are currently covering the stock, MarketBeat.com reports. Four research analysts have rated the stock with a hold rating, nine have issued a buy rating and three have issued a strong buy rating on the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $395.7143.

A number of brokerages have issued reports on HEI. Zacks Research upgraded Heico from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, June 9th. Morgan Stanley set a $365.00 target price on Heico and gave the stock an "equal weight" rating in a research note on Wednesday. Citigroup lifted their price target on shares of Heico from $429.00 to $441.00 and gave the stock a "buy" rating in a report on Friday, August 28th. Jefferies Financial Group set a $430.00 price objective on Heico and gave the company a "buy" rating in a research note on Wednesday, August 26th. Finally, Weiss Ratings raised Heico from a "hold (c+)" rating to a "buy (b-)" rating in a report on Thursday, July 16th.

Heico Price Performance

Heico stock opened at $325.23 on Friday. Heico has a 52 week low of $256.11 and a 52 week high of $376.86. The company's 50 day moving average price is $353.03 and its two-hundred day moving average price is $321.52. The stock has a market cap of $45.42 billion, a P/E ratio of 54.11, a P/E/G ratio of 3.15 and a beta of 1.04. The company has a quick ratio of 1.27, a current ratio of 2.72 and a debt-to-equity ratio of 0.51.

Heico (NYSE:HEI - Get Free Report) last released its earnings results on Tuesday, August 25th. The aerospace company reported $1.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.51 by $0.16. The company had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.36 billion. Heico had a return on equity of 18.00% and a net margin of 16.38%.Heico's quarterly revenue was up 23.1% on a year-over-year basis. During the same period in the prior year, the company posted $1.26 earnings per share. On average, equities analysts predict that Heico will post 6.13 earnings per share for the current year.

Heico Dividend Announcement

The firm also recently announced a dividend, which was paid on Wednesday, July 15th. Stockholders of record on Wednesday, July 1st were paid a $0.13 dividend. The ex-dividend date was Wednesday, July 1st. This represents a dividend yield of 7.0%. Heico's dividend payout ratio (DPR) is presently 4.33%.

Insider Activity

In related news, CAO Bradley Rowen sold 1,326 shares of the company's stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $241.63, for a total transaction of $320,401.38. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 4.86% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Heico

A number of institutional investors and hedge funds have recently modified their holdings of the company. Diamant Asset Management Inc. grew its stake in Heico by 25,698.9% during the first quarter. Diamant Asset Management Inc. now owns 763,647 shares of the aerospace company's stock valued at $209,392,000 after acquiring an additional 760,687 shares in the last quarter. Weitz Investment Management Inc. bought a new stake in shares of Heico during the 2nd quarter valued at about $52,737,000. Bank of New York Mellon Corp bought a new stake in shares of Heico during the 2nd quarter valued at about $54,386,000. Freestone Grove Partners LP purchased a new position in shares of Heico during the second quarter worth about $50,276,000. Finally, Munro Partners increased its position in shares of Heico by 44.2% in the fourth quarter. Munro Partners now owns 284,898 shares of the aerospace company's stock worth $92,190,000 after purchasing an additional 87,265 shares during the last quarter. 27.12% of the stock is owned by hedge funds and other institutional investors.

About Heico

HEICO Corporation is an aerospace, defense and electronics company that designs, manufactures, and sells a range of products and provides repair and aftermarket services. Headquartered in Hollywood, Florida, HEICO supplies replacement components, repair services and engineered systems for commercial and business aviation, military and space markets as well as for selected industrial and medical customers. The company's offerings are focused on sustaining and improving the reliability and availability of complex equipment across its end markets.

HEICO operates through two principal business areas.

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