HEICO (NYSE:HEI) Reaches New 12-Month High Following Better-Than-Expected Earnings

HEICO Co. (NYSE:HEI - Get Free Report) shares hit a new 52-week high during trading on Wednesday after the company announced better than expected quarterly earnings. The company traded as high as $295.67 and last traded at $292.89, with a volume of 275473 shares. The stock had previously closed at $274.02.

The aerospace company reported $1.12 earnings per share for the quarter, topping analysts' consensus estimates of $1.03 by $0.09. The business had revenue of $1.10 billion for the quarter, compared to analysts' expectations of $1.06 billion. HEICO had a return on equity of 14.63% and a net margin of 13.33%. The business's quarterly revenue was up 14.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.88 EPS.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on HEI. UBS Group increased their price target on HEICO from $264.00 to $306.00 and gave the company a "neutral" rating in a research note on Thursday. Truist Financial decreased their price target on HEICO from $294.00 to $277.00 and set a "buy" rating for the company in a research note on Thursday, April 17th. Wells Fargo & Company assumed coverage on HEICO in a research note on Tuesday, April 15th. They set an "equal weight" rating and a $244.00 price objective for the company. Finally, William Blair reissued an "outperform" rating on shares of HEICO in a research note on Tuesday, March 25th. Five equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $270.00.

Insider Buying and Selling

In other HEICO news, Director Alan Schriesheim sold 50,000 shares of the firm's stock in a transaction dated Tuesday, April 22nd. The shares were sold at an average price of $239.57, for a total transaction of $11,978,500.00. Following the completion of the transaction, the director now owns 157,197 shares in the company, valued at $37,659,685.29. This trade represents a 24.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Julie Neitzel sold 700 shares of the firm's stock in a transaction dated Thursday, April 24th. The stock was sold at an average price of $246.23, for a total transaction of $172,361.00. Following the transaction, the director now owns 418 shares of the company's stock, valued at approximately $102,924.14. This represents a 62.61% decrease in their position. The disclosure for this sale can be found here. 9.55% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Compass Financial Services Inc bought a new position in HEICO in the 4th quarter worth approximately $26,000. Ridgewood Investments LLC grew its holdings in HEICO by 92.0% during the 1st quarter. Ridgewood Investments LLC now owns 96 shares of the aerospace company's stock worth $26,000 after acquiring an additional 46 shares during the period. NBC Securities Inc. acquired a new stake in HEICO during the 1st quarter worth $27,000. Costello Asset Management INC acquired a new position in shares of HEICO in the 1st quarter valued at $27,000. Finally, Banque Transatlantique SA acquired a new position in shares of HEICO in the 4th quarter valued at $44,000. Institutional investors own 27.12% of the company's stock.

HEICO Stock Up 2.1%

The company has a market cap of $41.75 billion, a price-to-earnings ratio of 82.09, a price-to-earnings-growth ratio of 3.10 and a beta of 1.05. The company has a current ratio of 3.11, a quick ratio of 1.34 and a debt-to-equity ratio of 0.60. The firm's fifty day moving average price is $260.22 and its 200-day moving average price is $252.18.

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.