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

Key Points

• Barclays has raised the price target for Heico (NYSE:HEI) from $280.00 to $300.00, maintaining an "equal weight" rating, which indicates a potential downside of 3.91% from the current stock price.
• Several research firms have issued ratings, with Goldman Sachs setting a higher price target of $382.00, while Bank of America and Robert W. Baird have also made upward adjustments to their projections.
• Heico reported quarterly earnings of $1.26 per share, surpassing estimates and achieving a 15.7% revenue increase year-over-year, reflecting strong performance in the aerospace sector.

Heico (NYSE:HEI - Get Free Report) had its price objective increased by stock analysts at Barclays from $280.00 to $300.00 in a report issued on Tuesday, Marketbeat Ratings reports. The brokerage presently has an "equal weight" rating on the aerospace company's stock. Barclays's target price would suggest a potential downside of 6.97% from the stock's previous close.

HEI has been the subject of a number of other research reports. Royal Bank Of Canada set a $350.00 price target on Heico in a report on Wednesday, August 27th. Robert W. Baird increased their price target on Heico from $360.00 to $400.00 and gave the company an "outperform" rating in a report on Wednesday, August 27th. Zacks Research raised Heico to a "hold" rating in a report on Monday, August 11th. Wells Fargo & Company increased their price target on Heico from $244.00 to $278.00 and gave the company an "equal weight" rating in a report on Friday, May 30th. Finally, Morgan Stanley increased their target price on Heico from $305.00 to $330.00 and gave the stock an "equal weight" rating in a report on Thursday, July 17th. Nine research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $346.09.

Heico Stock Up 0.1%

Shares of HEI stock traded up $0.20 during trading hours on Tuesday, reaching $322.49. The company had a trading volume of 491,647 shares, compared to its average volume of 430,384. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.51 and a current ratio of 3.35. Heico has a twelve month low of $216.68 and a twelve month high of $338.92. The company has a market capitalization of $44.86 billion, a P/E ratio of 70.57, a price-to-earnings-growth ratio of 3.94 and a beta of 1.08. The stock's fifty day simple moving average is $318.13 and its 200 day simple moving average is $285.83.

Heico (NYSE:HEI - Get Free Report) last posted its earnings results on Monday, August 25th. The aerospace company reported $1.26 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.12 by $0.14. Heico had a return on equity of 16.29% and a net margin of 14.96%.The business had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.11 billion. During the same quarter last year, the firm earned $0.97 earnings per share. The company's revenue for the quarter was up 15.7% compared to the same quarter last year. As a group, sell-side analysts expect that Heico will post 4.2 earnings per share for the current fiscal year.

Insider Activity

In other news, Chairman Laurans A. Mendelson sold 56,300 shares of Heico stock in a transaction on Tuesday, July 15th. The stock was sold at an average price of $319.45, for a total transaction of $17,985,035.00. Following the transaction, the chairman directly owned 1,253,127 shares in the company, valued at approximately $400,311,420.15. This trade represents a 4.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 9.55% of the company's stock.

Institutional Trading of Heico

Several hedge funds and other institutional investors have recently modified their holdings of HEI. American Century Companies Inc. boosted its position in Heico by 68.9% during the second quarter. American Century Companies Inc. now owns 528,145 shares of the aerospace company's stock valued at $173,232,000 after purchasing an additional 215,530 shares during the last quarter. EULAV Asset Management boosted its position in Heico by 1.8% during the first quarter. EULAV Asset Management now owns 461,693 shares of the aerospace company's stock valued at $123,360,000 after purchasing an additional 8,000 shares during the last quarter. Two Sigma Advisers LP boosted its position in Heico by 2.3% during the fourth quarter. Two Sigma Advisers LP now owns 371,178 shares of the aerospace company's stock valued at $88,244,000 after purchasing an additional 8,300 shares during the last quarter. Congress Asset Management Co. boosted its position in Heico by 366.0% during the second quarter. Congress Asset Management Co. now owns 308,457 shares of the aerospace company's stock valued at $101,174,000 after purchasing an additional 242,264 shares during the last quarter. Finally, Dixon Mitchell Investment Counsel Inc. boosted its position in Heico by 3.8% during the second quarter. Dixon Mitchell Investment Counsel Inc. now owns 201,173 shares of the aerospace company's stock valued at $65,985,000 after purchasing an additional 7,364 shares during the last quarter. 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.