Heico (NYSE:HEI) Price Target Raised to $400.00 at Bank of America

Key Points

• Bank of America has raised its price target for Heico (NYSE:HEI) from $355.00 to $400.00, indicating a potential upside of 23.94% from its current price.
• Heico recently reported quarterly earnings of $1.26 per share, exceeding analysts' expectations of $1.12, with a revenue of $1.15 billion. This represents a 15.7% increase compared to the same quarter last year.
• Currently, nine analysts have rated Heico as a Buy, while six have issued Hold ratings, with an average consensus target price of $346.09.

Heico (NYSE:HEI - Get Free Report) had its target price boosted by equities research analysts at Bank of America from $355.00 to $400.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has a "buy" rating on the aerospace company's stock. Bank of America's price target suggests a potential upside of 23.94% from the company's current price.

A number of other equities research analysts have also recently commented on HEI. Wells Fargo & Company upped their target price on shares of Heico from $244.00 to $278.00 and gave the company an "equal weight" rating in a report on Friday, May 30th. The Goldman Sachs Group reaffirmed a "buy" rating and issued a $382.00 target price (up from $337.00) on shares of Heico in a report on Wednesday, August 27th. Truist Financial upped their target price on shares of Heico from $352.00 to $366.00 and gave the company a "buy" rating in a report on Wednesday, August 27th. UBS Group upped their target price on shares of Heico from $346.00 to $375.00 and gave the company a "neutral" rating in a report on Wednesday, August 27th. Finally, Royal Bank Of Canada set a $350.00 price target on shares of Heico in a research note on Wednesday, August 27th. Nine research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $346.09.

Heico Price Performance

Shares of HEI opened at $322.75 on Friday. Heico has a 1-year low of $216.68 and a 1-year high of $338.92. The stock has a market cap of $44.89 billion, a PE ratio of 70.62, a price-to-earnings-growth ratio of 3.90 and a beta of 1.08. The company has a debt-to-equity ratio of 0.58, a current ratio of 3.35 and a quick ratio of 1.51. The firm has a fifty day moving average price of $318.21 and a 200 day moving average price of $285.11.

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

Insiders Place Their Bets

In other Heico news, Chairman Laurans A. Mendelson sold 56,300 shares of the company's stock in a transaction dated 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 transaction, the chairman directly owned 1,253,127 shares in the company, valued at approximately $400,311,420.15. This represents a 4.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 9.55% of the company's stock.

Institutional Trading of Heico

Large investors have recently modified their holdings of the business. Artemis Investment Management LLP acquired a new stake in shares of Heico in the first quarter valued at approximately $7,612,000. Baker Avenue Asset Management LP acquired a new stake in shares of Heico in the first quarter valued at approximately $345,000. Freedom Day Solutions LLC acquired a new stake in shares of Heico in the first quarter valued at approximately $2,653,000. Praxis Investment Management Inc. grew its position in shares of Heico by 24.9% in the first quarter. Praxis Investment Management Inc. now owns 8,830 shares of the aerospace company's stock valued at $2,359,000 after purchasing an additional 1,760 shares during the last quarter. Finally, Vantage Investment Partners LLC grew its position in shares of Heico by 1.1% in the first quarter. Vantage Investment Partners LLC now owns 162,145 shares of the aerospace company's stock valued at $43,324,000 after purchasing an additional 1,772 shares during the last quarter. 27.12% of the stock is currently owned by institutional investors and hedge funds.

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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