Heico (NYSE:HEI) Stock Rating Lowered by 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 note issued to investors on Friday.

Several other research analysts have also recently issued reports on the company. Bank of America increased their price objective on Heico from $320.00 to $355.00 and gave the stock a "buy" rating in a research report on Thursday, July 3rd. UBS Group increased their price objective on Heico from $264.00 to $306.00 and gave the company a "neutral" rating in a research note on Thursday, May 29th. Wells Fargo & Company raised their price target on Heico from $244.00 to $278.00 and gave the stock an "equal weight" rating in a research note on Friday, May 30th. William Blair reissued an "outperform" rating on shares of Heico in a research note on Tuesday, March 25th. Finally, Barclays set a $280.00 price objective on Heico and gave the stock an "equal weight" rating in a report on Monday, June 2nd. Six research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $301.45.

Heico Stock Performance

Shares of Heico stock traded up $1.43 during trading hours on Friday, hitting $322.47. 329,663 shares of the company were exchanged, compared to its average volume of 482,020. Heico has a 1 year low of $216.68 and a 1 year high of $328.64. The company has a current ratio of 3.43, a quick ratio of 1.56 and a debt-to-equity ratio of 0.56. The business has a 50-day moving average of $302.74 and a 200-day moving average of $265.38. The stock has a market capitalization of $44.86 billion, a price-to-earnings ratio of 75.34, a P/E/G ratio of 4.00 and a beta of 1.08.

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

Insider Transactions at Heico

In related news, Chairman Laurans A. Mendelson sold 56,300 shares of the business's stock in a transaction that occurred on 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 completion of the transaction, the chairman owned 1,253,127 shares in the company, valued at $400,311,420.15. The trade was a 4.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Frank J. Schwitter sold 356 shares of the business's stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $299.10, for a total value of $106,479.60. Following the transaction, the director owned 1,500 shares of the company's stock, valued at $448,650. This represents a 19.18% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 142,356 shares of company stock valued at $40,684,976 over the last 90 days. Insiders own 9.55% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Bain Capital Public Equity Management II LLC bought a new stake in shares of Heico in the 4th quarter worth $110,503,000. Freestone Grove Partners LP acquired a new position in Heico during the fourth quarter valued at $71,030,000. Congress Asset Management Co. raised its position in Heico by 366.0% during the second quarter. Congress Asset Management Co. now owns 308,457 shares of the aerospace company's stock valued at $101,174,000 after buying an additional 242,264 shares during the period. Mackenzie Financial Corp purchased a new position in Heico in the first quarter valued at about $40,949,000. Finally, Squarepoint Ops LLC grew its stake in Heico by 2,203.0% in the fourth quarter. Squarepoint Ops LLC now owns 87,030 shares of the aerospace company's stock valued at $20,691,000 after purchasing an additional 83,251 shares in the last quarter. Institutional investors and hedge funds own 27.12% of the company's stock.

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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