Heico (NYSE:HEI) Rating Lowered to Hold at Wall Street Zen

Heico (NYSE:HEI - Get Free Report) was downgraded by analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research report issued to clients and investors on Friday.

Other analysts also recently issued reports about the company. William Blair restated an "outperform" rating on shares of Heico in a research note on Tuesday, March 25th. Barclays set a $280.00 target price on Heico and gave the company an "equal weight" rating in a research note on Monday, June 2nd. Stifel Nicolaus set a $352.00 target price on Heico and gave the company a "buy" rating in a research note on Tuesday, June 24th. Truist Financial raised their target price on Heico from $323.00 to $352.00 and gave the company a "buy" rating in a research note on Friday, July 11th. Finally, Morgan Stanley raised their target price on Heico from $305.00 to $330.00 and gave the company an "equal weight" rating in a research note on Thursday, July 17th. Six investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $301.45.

Heico Price Performance

NYSE:HEI traded down $1.16 during trading hours on Friday, reaching $318.04. 115,583 shares of the company traded hands, compared to its average volume of 529,114. The firm's 50-day moving average is $302.74 and its 200-day moving average is $265.77. The stock has a market cap of $44.24 billion, a P/E ratio of 74.31, a P/E/G ratio of 4.02 and a beta of 1.08. The company has a debt-to-equity ratio of 0.56, a current ratio of 3.43 and a quick ratio of 1.56. Heico has a 1-year low of $216.68 and a 1-year high of $328.64.

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

Insider Buying and Selling at Heico

In other news, Director Julie Neitzel sold 700 shares of the firm's stock in a transaction dated Thursday, April 24th. The shares were sold at an average price of $246.23, for a total transaction of $172,361.00. Following the completion of the sale, the director owned 418 shares in the company, valued at approximately $102,924.14. This trade represents a 62.61% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Chairman Laurans A. Mendelson sold 56,300 shares of the firm's stock in a transaction dated 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 sale, the chairman 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. Insiders sold a total of 92,356 shares of company stock worth $28,706,476 in the last three months. 9.55% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Heico

A number of institutional investors have recently added to or reduced their stakes in HEI. Highland Capital Management LLC bought a new position in Heico during the second quarter worth $1,553,000. Barrett & Company Inc. lifted its stake in shares of Heico by 1.6% in the second quarter. Barrett & Company Inc. now owns 3,216 shares of the aerospace company's stock valued at $1,055,000 after buying an additional 50 shares in the last quarter. Union Bancaire Privee UBP SA bought a new position in shares of Heico in the second quarter valued at $1,224,000. Global Trust Asset Management LLC lifted its stake in shares of Heico by 145.2% in the second quarter. Global Trust Asset Management LLC now owns 4,610 shares of the aerospace company's stock valued at $1,512,000 after buying an additional 2,730 shares in the last quarter. Finally, Moody Lynn & Lieberson LLC raised its holdings in shares of Heico by 1.4% in the second quarter. Moody Lynn & Lieberson LLC now owns 4,230 shares of the aerospace company's stock valued at $1,387,000 after purchasing an additional 60 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.