Barclays Issues Positive Forecast for HEICO (NYSE:HEI) Stock Price

HEICO (NYSE:HEI - Get Free Report) had its target price raised by equities research analysts at Barclays from $250.00 to $280.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has an "equal weight" rating on the aerospace company's stock. Barclays's price objective would suggest a potential downside of 6.20% from the stock's current price.

A number of other equities analysts have also recently issued reports on the stock. Wells Fargo & Company increased their price objective on shares of HEICO from $244.00 to $278.00 and gave the company an "equal weight" rating in a research note on Friday. UBS Group upped their target price on shares of HEICO from $264.00 to $306.00 and gave the company a "neutral" rating in a research report on Thursday, May 29th. William Blair reiterated an "outperform" rating on shares of HEICO in a research report on Tuesday, March 25th. Finally, Truist Financial cut their price target on shares of HEICO from $294.00 to $277.00 and set a "buy" rating on the stock in a research report on Thursday, April 17th. 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, HEICO has a consensus rating of "Moderate Buy" and an average price target of $275.82.

HEICO Stock Down 0.8%

NYSE HEI traded down $2.42 during trading on Monday, reaching $298.49. The company's stock had a trading volume of 450,837 shares, compared to its average volume of 476,976. 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 stock has a market capitalization of $41.47 billion, a PE ratio of 81.56, a PEG ratio of 3.10 and a beta of 1.07. The business has a 50-day moving average price of $261.42 and a 200-day moving average price of $252.32. HEICO has a 1-year low of $216.68 and a 1-year high of $317.39.

HEICO (NYSE:HEI - Get Free Report) last issued its quarterly earnings data on Tuesday, May 27th. 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 during the quarter, compared to analysts' expectations of $1.06 billion. HEICO had a net margin of 13.33% and a return on equity of 14.63%. HEICO's revenue for the quarter was up 14.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.88 earnings per share. On average, research analysts forecast that HEICO will post 4.2 earnings per share for the current fiscal year.

Insider Activity at HEICO

In other HEICO news, Director Alan Schriesheim sold 50,000 shares of HEICO stock in a transaction on 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 directly owns 157,197 shares of the company's stock, valued at $37,659,685.29. The trade was a 24.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available 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 transaction of $172,361.00. Following the transaction, 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 company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Wealthfront Advisers LLC grew its position in HEICO by 219,129.4% in the fourth quarter. Wealthfront Advisers LLC now owns 22,234,248 shares of the aerospace company's stock valued at $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 stake in HEICO in the fourth quarter valued at approximately $110,503,000. Freestone Grove Partners LP bought a new stake in HEICO in the fourth quarter valued at approximately $71,030,000. Mackenzie Financial Corp acquired a new position in HEICO in the first quarter valued at approximately $40,949,000. Finally, Squarepoint Ops LLC lifted its stake in HEICO by 2,203.0% in the fourth quarter. Squarepoint Ops LLC now owns 87,030 shares of the aerospace company's stock valued at $20,691,000 after buying an additional 83,251 shares during the period. Institutional investors and hedge funds own 27.12% of the company's stock.

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.