Heico (NYSE:HEI) Hits New 12-Month High - Should You Buy?

Key Points

• Heico shares hit a new 52-week high, trading as high as $363.40 as investors continued to bid up the aerospace company’s stock.
• The company recently posted strong quarterly results, with earnings of $1.66 per share beating estimates and revenue rising 25.3% year over year to $1.38 billion.
• Analyst sentiment remains mostly positive, with a Moderate Buy consensus and an average price target of $372.06, though recent ratings were mixed and one firm downgraded the stock to hold.

Heico Corporation (NYSE:HEI - Get Free Report) shares hit a new 52-week high on Wednesday . The company traded as high as $363.40 and last traded at $362.55, with a volume of 80939 shares trading hands. The stock had previously closed at $356.19.

Analyst Ratings Changes

HEI has been the subject of a number of research reports. Weiss Ratings downgraded shares of Heico from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Wednesday, April 22nd. Jefferies Financial Group reaffirmed a "buy" rating and set a $410.00 price objective (up from $375.00) on shares of Heico in a research report on Thursday, May 28th. UBS Group reiterated a "neutral" rating and set a $390.00 target price (up from $371.00) on shares of Heico in a report on Monday, June 1st. Royal Bank Of Canada raised their target price on Heico from $375.00 to $390.00 and gave the company an "outperform" rating in a research note on Friday, May 29th. Finally, Wells Fargo & Company set a $350.00 price target on Heico and gave the company an "equal weight" rating in a research report on Monday, June 1st. Three analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and seven have issued a Hold rating to the company's stock. According to MarketBeat, Heico presently has a consensus rating of "Moderate Buy" and an average target price of $372.06.

Heico Stock Performance

The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.36 and a current ratio of 2.92. The business's 50-day moving average is $310.52 and its 200-day moving average is $315.02. The company has a market capitalization of $50.50 billion, a PE ratio of 64.60, a PEG ratio of 3.73 and a beta of 1.03.

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 for the quarter, topping analysts' consensus estimates of $1.33 by $0.33. Heico had a net margin of 16.08% and a return on equity of 17.52%. The business had revenue of $1.38 billion for the quarter, compared to analysts' expectations of $1.25 billion. During the same quarter in the prior year, the company earned $1.12 earnings per share. The business's revenue was up 25.3% compared to the same quarter last year. On average, research analysts anticipate that Heico Corporation will post 5.78 earnings per share for the current year.

Heico Announces Dividend

The business also recently declared a dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Wednesday, July 1st will be given a $0.13 dividend. This represents a dividend yield of 7.0%. The ex-dividend date of this dividend is Wednesday, July 1st. Heico's payout ratio is currently 4.29%.

Insider Activity at Heico

In other Heico news, CAO Bradley K. Rowen sold 1,326 shares of the business's stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $241.63, for a total value of $320,401.38. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Julie Neitzel sold 676 shares of the stock in a transaction on Wednesday, April 15th. The stock was sold at an average price of $223.00, for a total value of $150,748.00. The disclosure for this sale is available in the SEC filing. Corporate insiders own 4.86% of the company's stock.

Hedge Funds Weigh In On Heico

A number of hedge funds have recently bought and sold shares of HEI. GM Advisory Group LLC increased its stake in Heico by 1.2% during the 4th quarter. GM Advisory Group LLC now owns 2,985 shares of the aerospace company's stock valued at $966,000 after purchasing an additional 36 shares in the last quarter. Leonard Rickey Investment Advisors P.L.L.C. lifted its stake in shares of Heico by 4.0% in the fourth quarter. Leonard Rickey Investment Advisors P.L.L.C. now owns 1,047 shares of the aerospace company's stock worth $339,000 after buying an additional 40 shares in the last quarter. DSM Capital Partners LLC grew its holdings in shares of Heico by 5.4% during the first quarter. DSM Capital Partners LLC now owns 807 shares of the aerospace company's stock valued at $221,000 after buying an additional 41 shares during the last quarter. Mutual Advisors LLC grew its holdings in shares of Heico by 3.8% during the fourth quarter. Mutual Advisors LLC now owns 1,181 shares of the aerospace company's stock valued at $382,000 after buying an additional 43 shares during the last quarter. Finally, MBL Wealth LLC increased its position in shares of Heico by 2.5% during the fourth quarter. MBL Wealth LLC now owns 1,817 shares of the aerospace company's stock valued at $588,000 after acquiring an additional 45 shares in the last quarter. Institutional investors own 27.12% of the company's stock.

Heico Company Profile

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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