Heico Corporation (NYSE:HEI) Receives Average Rating of "Moderate Buy" from Analysts

Key Points

• Heico Corporation has been assigned an average rating of "Moderate Buy" by fifteen research firms, with six analysts recommending a hold and nine recommending a buy.
• The company's recent quarterly earnings report showed an EPS of $1.26, surpassing analysts' expectations, along with a 15.7% year-over-year increase in revenue.
• Insider activity was notable, as Chairman Laurans A. Mendelson sold 56,300 shares of the stock, reducing his ownership by 4.30%, but he still retains approximately $400 million worth of shares.

Shares of Heico Corporation (NYSE:HEI - Get Free Report) have been given a consensus rating of "Moderate Buy" by the fifteen ratings firms that are presently covering the firm, Marketbeat reports. Six equities research analysts have rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $346.0909.

HEI has been the topic of a number of research analyst reports. Royal Bank Of Canada set a $350.00 price target on Heico in a report on Wednesday, August 27th. Robert W. Baird lifted their target price on Heico from $360.00 to $400.00 and gave the company an "outperform" rating in a research note on Wednesday, August 27th. Wall Street Zen upgraded Heico from a "hold" rating to a "buy" rating in a report on Saturday, August 30th. UBS Group raised their price target on shares of Heico from $346.00 to $375.00 and gave the stock a "neutral" rating in a report on Wednesday, August 27th. Finally, Truist Financial upped their price objective on shares of Heico from $352.00 to $366.00 and gave the company a "buy" rating in a research note on Wednesday, August 27th.

Insiders Place Their Bets

In other Heico news, Chairman Laurans A. Mendelson sold 56,300 shares of the company's stock in a transaction dated Tuesday, July 15th. The stock was sold at an average price of $319.45, for a total value of $17,985,035.00. Following the transaction, the chairman directly owned 1,253,127 shares of the company's stock, valued at $400,311,420.15. This represents a 4.30% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 9.55% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Heico

Large investors have recently made changes to their positions in the company. Ridgewood Investments LLC lifted its stake in Heico by 92.0% in the first quarter. Ridgewood Investments LLC now owns 96 shares of the aerospace company's stock valued at $26,000 after acquiring an additional 46 shares during the last quarter. NBC Securities Inc. acquired a new stake in shares of Heico in the 1st quarter valued at $27,000. Costello Asset Management INC bought a new stake in Heico in the first quarter worth $27,000. Caitong International Asset Management Co. Ltd increased its position in Heico by 17,800.0% during the first quarter. Caitong International Asset Management Co. Ltd now owns 179 shares of the aerospace company's stock worth $48,000 after buying an additional 178 shares during the last quarter. Finally, Banque Transatlantique SA raised its holdings in Heico by 36.8% during the first quarter. Banque Transatlantique SA now owns 253 shares of the aerospace company's stock valued at $62,000 after buying an additional 68 shares in the last quarter. Institutional investors own 27.12% of the company's stock.

Heico Trading Up 0.6%

Shares of Heico stock traded up $1.80 during trading on Friday, hitting $320.55. The stock had a trading volume of 271,669 shares, compared to its average volume of 422,854. Heico has a 1 year low of $216.68 and a 1 year high of $338.92. The stock has a 50 day simple moving average of $317.85 and a 200 day simple moving average of $291.95. The company has a quick ratio of 1.51, a current ratio of 3.35 and a debt-to-equity ratio of 0.58. The company has a market capitalization of $44.62 billion, a PE ratio of 70.14, a P/E/G ratio of 3.75 and a beta of 1.08.

Heico (NYSE:HEI - Get Free Report) last posted its quarterly earnings data on Monday, August 25th. The aerospace company reported $1.26 EPS for the quarter, topping analysts' consensus estimates of $1.12 by $0.14. Heico had a net margin of 14.96% and a return on equity of 16.29%. The firm had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.11 billion. During the same quarter last year, the business posted $0.97 EPS. The company's revenue was up 15.7% on a year-over-year basis. On average, research analysts expect that Heico will post 4.2 EPS for the current fiscal year.

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.