Heico (NYSE:HEI) Price Target Raised to $375.00 at UBS Group

Key Points

• UBS Group has raised its price target for Heico from $346.00 to $375.00, indicating a potential upside of 14.53% from the current stock price, while maintaining a "neutral" rating.
• Heico reported earnings of $1.26 per share for the last quarter, surpassing estimates, with revenue of $1.15 billion, which represents a 15.7% increase year-over-year.
• Multiple analysts have recently upgraded their ratings on Heico stock, with a consensus rating of "Moderate Buy" and a target price averaging $322.50.

Heico (NYSE:HEI - Get Free Report) had its price objective lifted by stock analysts at UBS Group from $346.00 to $375.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a "neutral" rating on the aerospace company's stock. UBS Group's price objective points to a potential upside of 14.53% from the company's current price.

Several other research firms have also recently weighed in on HEI. Jefferies Financial Group reiterated a "buy" rating on shares of Heico in a report on Monday, August 18th. Royal Bank Of Canada lifted their price target on shares of Heico from $315.00 to $335.00 and gave the company an "outperform" rating in a report on Friday, August 22nd. Bank of America lifted their price target on shares of Heico from $320.00 to $355.00 and gave the company a "buy" rating in a report on Thursday, July 3rd. Stifel Nicolaus set a $360.00 price target on shares of Heico in a report on Tuesday. Finally, Zacks Research upgraded shares of Heico to a "hold" rating in a report on Monday, August 11th. Eight investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $322.50.

Heico Trading Down 1.4%

Shares of Heico stock traded down $4.75 on Wednesday, hitting $327.41. The stock had a trading volume of 82,664 shares, compared to its average volume of 514,196. The company has a quick ratio of 1.56, a current ratio of 3.43 and a debt-to-equity ratio of 0.56. Heico has a one year low of $216.68 and a one year high of $338.92. The stock has a market cap of $45.54 billion, a price-to-earnings ratio of 71.79, a PEG ratio of 3.80 and a beta of 1.11. The stock's 50-day simple moving average is $318.17 and its two-hundred day simple moving average is $281.14.

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

Insider Activity

In other news, Director Frank J. Schwitter sold 356 shares of Heico stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $299.10, for a total value of $106,479.60. Following the completion of the transaction, the director owned 1,500 shares of the company's stock, valued at $448,650. The trade was a 19.18% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Laurans A. Mendelson sold 56,300 shares of Heico stock in a transaction dated Tuesday, July 15th. The stock was sold at an average price of $319.45, for a total value of $17,985,035.00. Following the completion of the transaction, the chairman directly owned 1,253,127 shares of the company's stock, valued at approximately $400,311,420.15. This represents a 4.30% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 91,656 shares of company stock worth $28,534,115. Corporate insiders own 9.55% of the company's stock.

Hedge Funds Weigh In On Heico

Large investors have recently modified their holdings of the stock. Artemis Investment Management LLP purchased a new position in shares of Heico in the 1st quarter worth about $7,612,000. Baker Avenue Asset Management LP purchased a new position in shares of Heico in the 1st quarter worth about $345,000. Freedom Day Solutions LLC purchased a new position in shares of Heico in the 1st quarter worth about $2,653,000. Praxis Investment Management Inc. raised its position in shares of Heico by 24.9% in the 1st quarter. Praxis Investment Management Inc. now owns 8,830 shares of the aerospace company's stock worth $2,359,000 after purchasing an additional 1,760 shares during the last quarter. Finally, Vantage Investment Partners LLC raised its position in shares of Heico by 1.1% in the 1st quarter. Vantage Investment Partners LLC now owns 162,145 shares of the aerospace company's stock worth $43,324,000 after purchasing an additional 1,772 shares during the last quarter. Hedge funds and other institutional investors 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.

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