Heico (NYSE:HEI) Price Target Raised to $366.00 at Truist Financial

Key Points

• Truist Financial has raised its target price for Heico (NYSE:HEI) from $352.00 to $366.00, maintaining a "buy" rating and indicating a potential upside of 9.92% from the previous close.
• Heico reported a quarterly earnings per share (EPS) of $1.26, exceeding the consensus estimate by $0.14, and showing a revenue increase of 15.7% year-over-year.
• Several analysts have rated Heico's stock as a "Moderate Buy," with eight maintaining a "buy" rating and six assigning a "hold" rating, indicating a generally positive outlook on the company's performance.

Heico (NYSE:HEI - Get Free Report) had its target price boosted by investment analysts at Truist Financial from $352.00 to $366.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has a "buy" rating on the aerospace company's stock. Truist Financial's target price points to a potential upside of 9.92% from the stock's previous close.

Other equities research analysts have also issued research reports about the stock. Wall Street Zen lowered shares of Heico from a "buy" rating to a "hold" rating in a research report on Friday, July 18th. Zacks Research raised shares of Heico to a "hold" rating in a research report on Monday, August 11th. Jefferies Financial Group reissued a "buy" rating on shares of Heico in a research report on Monday, August 18th. Royal Bank Of Canada increased their price objective on shares of Heico from $315.00 to $335.00 and gave the stock an "outperform" rating in a research report on Friday, August 22nd. Finally, Wells Fargo & Company increased their price objective on shares of Heico from $244.00 to $278.00 and gave the stock an "equal weight" rating in a research report on Friday, May 30th. Eight equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, Heico has an average rating of "Moderate Buy" and an average price target of $315.60.

Heico Stock Performance

Shares of HEI stock opened at $332.98 on Wednesday. Heico has a one year low of $216.68 and a one year high of $338.92. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.56 and a current ratio of 3.43. The company has a 50 day moving average price of $318.17 and a 200 day moving average price of $281.14. The firm has a market capitalization of $46.32 billion, a price-to-earnings ratio of 72.86, a price-to-earnings-growth ratio of 3.80 and a beta of 1.11.

Heico (NYSE:HEI - Get Free Report) last issued its quarterly earnings results on Monday, August 25th. The aerospace company reported $1.26 EPS for the quarter, topping the consensus estimate of $1.12 by $0.14. Heico had a net margin of 14.96% and a return on equity of 16.68%. The firm had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.11 billion. During the same quarter in the prior year, the business posted $0.97 earnings per share. Heico's revenue for the quarter was up 15.7% compared to the same quarter last year. Sell-side analysts anticipate that Heico will post 4.2 EPS for the current year.

Insider Activity at Heico

In related news, Director Alan Schriesheim sold 35,000 shares of the firm's stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $298.36, for a total transaction of $10,442,600.00. Following the completion of the sale, the director directly owned 122,197 shares of the company's stock, valued at approximately $36,458,696.92. This trade represents a 22.27% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Laurans A. Mendelson sold 56,300 shares of the firm's stock in a transaction on Tuesday, July 15th. The shares were sold at an average price of $319.45, for a total transaction of $17,985,035.00. Following the sale, the chairman directly owned 1,253,127 shares of the company's stock, valued at approximately $400,311,420.15. The trade was a 4.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 91,656 shares of company stock valued at $28,534,115. Corporate insiders own 9.55% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Munro Partners bought a new position in Heico during the 2nd quarter valued at $59,720,000. Caxton Associates LLP bought a new position in Heico during the 2nd quarter valued at $1,954,000. Evergreen Capital Management LLC boosted its stake in Heico by 30.5% during the 2nd quarter. Evergreen Capital Management LLC now owns 1,121 shares of the aerospace company's stock valued at $368,000 after acquiring an additional 262 shares during the last quarter. Sandler Capital Management bought a new position in Heico during the 2nd quarter valued at $1,179,000. Finally, IHT Wealth Management LLC boosted its stake in Heico by 2.1% during the 2nd quarter. IHT Wealth Management LLC now owns 5,717 shares of the aerospace company's stock valued at $1,875,000 after acquiring an additional 117 shares during the last quarter. 27.12% of the stock is currently 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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