Heico (NYSE:HEI) Price Target Raised to $335.00

Key Points

• Royal Bank of Canada has raised Heico's price target from $315.00 to $335.00, suggesting an 8.91% upside from its current price with an "outperform" rating.
• The aerospace company reported $1.12 earnings per share for the most recent quarter, surpassing estimates of $1.03 and marking a 14.9% increase in revenue year-over-year.
• Institutional investors own 27.12% of Heico stock, with several firms, including Ridgewood Investments, making significant increases in their holdings during the first quarter.

Heico (NYSE:HEI - Get Free Report) had its price target raised by stock analysts at Royal Bank Of Canada from $315.00 to $335.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has an "outperform" rating on the aerospace company's stock. Royal Bank Of Canada's price target would suggest a potential upside of 8.91% from the company's current price.

A number of other brokerages also recently commented on HEI. Jefferies Financial Group reissued a "buy" rating on shares of Heico in a research report on Monday. UBS Group raised their target price on shares of Heico from $264.00 to $306.00 and gave the stock a "neutral" rating in a research note on Thursday, May 29th. Zacks Research upgraded shares of Heico to a "hold" rating in a research note on Monday, August 11th. Wall Street Zen cut shares of Heico from a "buy" rating to a "hold" rating in a research note on Friday, July 18th. Finally, Bank of America raised their target price on shares of Heico from $320.00 to $355.00 and gave the stock a "buy" rating in a research note on Thursday, July 3rd. Nine equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $307.18.

Heico Stock Down 0.0%

Heico stock opened at $307.59 on Friday. The company has a market cap of $42.79 billion, a P/E ratio of 71.83, a price-to-earnings-growth ratio of 3.82 and a beta of 1.11. Heico has a 1-year low of $216.68 and a 1-year high of $338.92. The company has a fifty day simple moving average of $317.54 and a 200 day simple moving average of $279.13. The company has a current ratio of 3.43, a quick ratio of 1.56 and a debt-to-equity ratio of 0.56.

Heico (NYSE:HEI - Get Free Report) last released its earnings results on Tuesday, May 27th. The aerospace company reported $1.12 earnings per share for the quarter, beating analysts' consensus estimates of $1.03 by $0.09. Heico had a net margin of 14.54% and a return on equity of 15.88%. The business had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.06 billion. During the same quarter last year, the firm earned $0.88 earnings per share. The firm's revenue for the quarter was up 14.9% compared to the same quarter last year. Research analysts anticipate that Heico will post 4.2 earnings per share for the current fiscal year.

Insider Activity at Heico

In related news, Director Frank J. Schwitter sold 356 shares of Heico stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $299.10, for a total transaction of $106,479.60. Following the sale, the director directly owned 1,500 shares of the company's stock, valued at approximately $448,650. The trade was a 19.18% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Alan Schriesheim sold 35,000 shares of the business's stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $298.36, for a total transaction of $10,442,600.00. Following the sale, the director directly owned 122,197 shares in the company, valued at $36,458,696.92. The trade was a 22.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 91,656 shares of company stock valued at $28,534,115. 9.55% of the stock is owned by insiders.

Institutional Investors Weigh In On Heico

Institutional investors have recently added to or reduced their stakes in the business. 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 last quarter. NBC Securities Inc. bought a new stake in Heico during the 1st quarter worth approximately $27,000. Costello Asset Management INC acquired a new position in shares of Heico in the 1st quarter worth approximately $27,000. Banque Transatlantique SA bought a new stake in Heico during the fourth quarter valued at $44,000. Finally, Caitong International Asset Management Co. Ltd boosted its position in Heico by 17,800.0% during the first quarter. Caitong International Asset Management Co. Ltd now owns 179 shares of the aerospace company's stock valued at $48,000 after acquiring an additional 178 shares during the last quarter. 27.12% of the stock is owned by institutional investors.

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.

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