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

Key Points

• Heico has an average analyst rating of “Moderate Buy” from 18 brokerages, with seven holds, eight buys, and three strong buys. The average 1-year price target is about $374.56.
• The company’s latest quarterly results beat expectations, posting EPS of $1.66 versus the $1.33 estimate and revenue of $1.38 billion versus the $1.25 billion forecast. Revenue rose 25.3% year over year.
• Heico recently paid a $0.13 dividend, and the company also continues to see activity from both insiders and institutions, including multiple fund position increases. Hedge funds and other institutional investors now own 27.12% of the stock.

Heico Corporation (NYSE:HEI - Get Free Report) has received an average rating of "Moderate Buy" from the eighteen brokerages that are covering the company, MarketBeat.com reports. Seven equities research analysts have rated the stock with a hold recommendation, eight have issued a buy recommendation and three have issued a strong buy recommendation on the company. The average 1-year price objective among brokers that have covered the stock in the last year is $374.5625.

A number of research firms recently issued reports on HEI. Royal Bank Of Canada boosted their target price on shares of Heico from $375.00 to $390.00 and gave the company an "outperform" rating in a research report on Friday, May 29th. Wells Fargo & Company set a $350.00 price target on shares of Heico and gave the company an "equal weight" rating in a research report on Monday, June 1st. UBS Group restated a "neutral" rating and issued a $390.00 price objective (up from $371.00) on shares of Heico in a research report on Monday, June 1st. Weiss Ratings cut shares of Heico from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Wednesday, April 22nd. Finally, Wall Street Zen raised Heico from a "hold" rating to a "buy" rating in a research note on Saturday, June 6th.

Heico Price Performance

NYSE HEI opened at $351.70 on Thursday. The stock's fifty day moving average price is $328.47 and its 200 day moving average price is $317.56. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.92 and a quick ratio of 1.36. The company has a market cap of $49.12 billion, a price-to-earnings ratio of 62.80, a PEG ratio of 3.65 and a beta of 1.03. Heico has a 1 year low of $256.11 and a 1 year high of $369.48.

Heico (NYSE:HEI - Get Free Report) last announced its quarterly earnings data on Wednesday, May 27th. The aerospace company reported $1.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.33 by $0.33. Heico had a return on equity of 17.52% and a net margin of 16.08%.The firm had revenue of $1.38 billion during the quarter, compared to analysts' expectations of $1.25 billion. During the same period last year, the business posted $1.12 earnings per share. The company's revenue for the quarter was up 25.3% compared to the same quarter last year. As a group, equities research analysts forecast that Heico will post 5.83 earnings per share for the current year.

Heico Announces Dividend

The business also recently declared a dividend, which was paid on Wednesday, July 15th. Investors of record on Wednesday, July 1st were issued a $0.13 dividend. This represents a dividend yield of 7.0%. The ex-dividend date of this dividend was Wednesday, July 1st. Heico's dividend payout ratio (DPR) is currently 4.64%.

Insider Activity

In other news, CAO Bradley K. Rowen sold 1,326 shares of the business's stock in a transaction dated 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 is available at this hyperlink. 4.86% of the stock is owned by company insiders.

Institutional Trading of Heico

Several institutional investors have recently made changes to their positions in the company. Groupama Asset Managment boosted its holdings in Heico by 24.0% during the 3rd quarter. Groupama Asset Managment now owns 18,139 shares of the aerospace company's stock valued at $5,856,000 after acquiring an additional 3,512 shares during the period. Indivisible Partners purchased a new position in Heico in the fourth quarter worth approximately $5,883,000. PFA Pension Forsikringsaktieselskab purchased a new stake in shares of Heico during the 4th quarter worth $8,395,000. Verde Capital Management purchased a new stake in Heico during the 1st quarter worth about $1,204,000. Finally, CPC Advisors LLC lifted its stake in Heico by 208.4% during the first quarter. CPC Advisors LLC now owns 9,187 shares of the aerospace company's stock worth $2,519,000 after purchasing an additional 6,208 shares during the last quarter. Hedge funds and other institutional investors own 27.12% of the company's stock.

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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