Wells Fargo & Company Forecasts Strong Price Appreciation for HEICO (NYSE:HEI) Stock

HEICO (NYSE:HEI - Free Report) had its price target hoisted by Wells Fargo & Company from $244.00 to $278.00 in a report issued on Friday,Benzinga reports. They currently have an equal weight rating on the aerospace company's stock.

Other research analysts have also recently issued research reports about the company. UBS Group increased their price target on HEICO from $264.00 to $306.00 and gave the stock a "neutral" rating in a research note on Thursday. Truist Financial cut 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. Finally, William Blair reaffirmed an "outperform" rating on shares of HEICO in a research note on Tuesday, March 25th. Five analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $273.09.

HEICO Trading Down 0.2%

Shares of NYSE:HEI traded down $0.72 during trading on Friday, reaching $299.45. 849,998 shares of the stock were exchanged, compared to its average volume of 476,941. The firm has a market cap of $41.61 billion, a price-to-earnings ratio of 81.82, a price-to-earnings-growth ratio of 3.10 and a beta of 1.05. HEICO has a 12-month low of $216.68 and a 12-month high of $303.32. The firm's 50-day moving average price is $260.79 and its 200 day moving average price is $252.28. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.34 and a current ratio of 3.11.

HEICO (NYSE:HEI - Get Free Report) last announced its earnings results on Tuesday, May 27th. The aerospace company reported $1.12 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.03 by $0.09. The company had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.06 billion. HEICO had a return on equity of 14.63% and a net margin of 13.33%. HEICO's quarterly revenue was up 14.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.88 EPS. On average, sell-side analysts anticipate that HEICO will post 4.2 earnings per share for the current fiscal year.

Insider Transactions at HEICO

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

Institutional Investors Weigh In On HEICO

Large investors have recently modified their holdings of the business. Wealthfront Advisers LLC boosted its position in HEICO by 219,129.4% during the 4th quarter. Wealthfront Advisers LLC now owns 22,234,248 shares of the aerospace company's stock worth $5,285,970,000 after acquiring an additional 22,224,106 shares during the last quarter. Bain Capital Public Equity Management II LLC bought a new position in HEICO during the 4th quarter worth $110,503,000. Freestone Grove Partners LP bought a new position in HEICO during the 4th quarter worth $71,030,000. Mackenzie Financial Corp acquired a new stake in shares of HEICO during the 1st quarter worth $40,949,000. Finally, Squarepoint Ops LLC grew its holdings in shares of HEICO by 2,203.0% during the 4th quarter. Squarepoint Ops LLC now owns 87,030 shares of the aerospace company's stock worth $20,691,000 after purchasing an additional 83,251 shares in the last quarter. 27.12% of the stock is currently owned by institutional investors.

HEICO Company Profile

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.