Heico Corporation (NYSE:HEI) Stock Has Consensus Price Target of $387.33 According to Analysts

Key Points

• Analyst consensus is “Moderate Buy” for Heico, with nine buy ratings, two strong-buy ratings and seven holds. The average 12-month price target is $387.33, above the stock’s reported $297.81 opening price.
• Heico’s latest quarterly results exceeded expectations: earnings per share came in at $1.67 versus the $1.51 consensus, while revenue rose 23.1% year over year to $1.41 billion.
• Insider buying has been active, with insiders purchasing 5,362 shares worth about $1.23 million over the past 90 days. Corporate insiders own 4.86% of the company, while institutional investors hold 27.12%.

Shares of Heico Corporation (NYSE:HEI - Get Free Report) have earned an average recommendation of "Moderate Buy" from the eighteen research firms that are currently covering the stock, MarketBeat.com reports. Seven equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating on the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $387.33.

A number of equities analysts have issued reports on the company. Morgan Stanley set a $345.00 target price on Heico and gave the stock an "equal weight" rating in a report on Friday, October 16th. Wells Fargo & Company reduced their target price on shares of Heico from $350.00 to $335.00 and set an "equal weight" rating for the company in a research note on Wednesday, September 30th. Melius Research set a $350.00 price target on shares of Heico and gave the stock a "hold" rating in a research note on Monday, September 14th. Truist Financial lifted their target price on Heico from $397.00 to $412.00 and gave the company a "buy" rating in a research report on Tuesday, September 8th. Finally, Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Heico in a research report on Wednesday, October 14th.

Heico Stock Down 0.7%

Shares of NYSE HEI opened at $297.81 on Friday. Heico has a 1 year low of $256.11 and a 1 year high of $376.86. The firm's 50-day moving average is $316.30 and its 200-day moving average is $321.64. The company has a current ratio of 2.72, a quick ratio of 1.27 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $41.62 billion, a PE ratio of 49.55, a price-to-earnings-growth ratio of 2.51 and a beta of 1.09.

Heico (NYSE:HEI - Get Free Report) last posted its quarterly earnings results on Tuesday, August 25th. The aerospace company reported $1.67 earnings per share for the quarter, topping analysts' consensus estimates of $1.51 by $0.16. Heico had a net margin of 16.38% and a return on equity of 18.00%. The business had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.36 billion. During the same period in the previous year, the firm posted $1.26 earnings per share. Heico's revenue for the quarter was up 23.1% compared to the same quarter last year. Equities analysts expect that Heico will post 6.29 EPS for the current year.

Insider Buying and Selling at Heico

In other news, Director Julie Neitzel acquired 592 shares of Heico stock in a transaction dated Thursday, October 8th. The stock was bought at an average price of $294.93 per share, for a total transaction of $174,598.56. Following the completion of the acquisition, the director directly owned 1,010 shares in the company, valued at approximately $297,879.30. The trade was a 141.63% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Carol F. Fine acquired 795 shares of the firm's stock in a transaction on Thursday, October 8th. The stock was purchased at an average cost of $220.30 per share, for a total transaction of $175,138.50. Following the completion of the acquisition, the director owned 1,467 shares in the company, valued at approximately $323,180.10. This represents a 118.30% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders have acquired 5,362 shares of company stock worth $1,225,430. 4.86% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Heico

Hedge funds have recently added to or reduced their stakes in the stock. NFSG Corp bought a new position in shares of Heico in the third quarter worth $31,000. Compass Wealth Management LLC acquired a new position in Heico during the 3rd quarter worth approximately $61,000. Osterweis Capital Management Inc. bought a new position in shares of Heico in the 2nd quarter valued at $81,000. Bayban raised its position in Heico by 19.6% in the first quarter. Bayban now owns 330 shares of the aerospace company's stock valued at $90,000 after purchasing an additional 54 shares during the last quarter. Finally, Oslo Pensjonsforsikring AS bought a new position in Heico in the 1st quarter valued at approximately $100,000. Institutional investors own 27.12% of the company's stock.

Heico Company Profile

HEICO Corporation NYSE: HEI is an aerospace, defense, electronics and specialty industrial company headquartered in Hollywood, Florida. Founded in 1957, the company serves commercial aviation, defense, space, medical, telecommunications and other specialized markets.

HEICO operates through two primary business groups. Its Flight Support Group produces and distributes FAA-approved aircraft replacement parts, jet-engine components, specialized aircraft equipment and other products used by commercial and military aircraft operators.

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