Heico (NYSE:HEI) Stock Rating Upgraded by Truist Financial

Key Points

• Truist upgrade: Truist Financial raised Heico (NYSE:HEI) to a Strong Buy, while the broader analyst consensus remains a Moderate Buy with an average price target of $358.71 amid mixed recent ratings changes.
• Earnings beat: Heico reported quarterly EPS of $1.35 (vs. $1.26 expected) and revenue of $1.18B, up 14.4% year-over-year, and analysts forecast about $5.56 EPS for the current fiscal year.
• Valuation and ownership: The stock trades near $269 with a $37.5B market cap and a P/E of ~53, a 52-week range of $256.11–$361.69, insiders recently sold shares, and institutions own roughly 27% of the stock.

Heico (NYSE:HEI - Get Free Report) was upgraded by equities research analysts at Truist Financial to a "strong-buy" rating in a research note issued on Friday,Zacks.com reports.

A number of other equities analysts have also recently issued reports on the stock. Wall Street Zen cut shares of Heico from a "buy" rating to a "hold" rating in a research report on Sunday, March 8th. Weiss Ratings cut Heico from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Wednesday, April 22nd. Susquehanna initiated coverage on Heico in a research note on Friday, January 23rd. They issued a "neutral" rating and a $385.00 price target on the stock. BNP Paribas Exane raised Heico from a "neutral" rating to an "outperform" rating in a report on Friday, February 27th. Finally, Citigroup lowered their price target on Heico from $400.00 to $323.00 and set a "buy" rating on the stock in a report on Thursday, April 2nd. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat, Heico currently has a consensus rating of "Moderate Buy" and an average price target of $358.71.

Heico Stock Performance

Heico stock opened at $268.97 on Friday. The stock has a market cap of $37.53 billion, a P/E ratio of 53.16, a price-to-earnings-growth ratio of 3.30 and a beta of 0.95. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.41 and a current ratio of 3.06. Heico has a fifty-two week low of $256.11 and a fifty-two week high of $361.69. The firm's fifty day moving average price is $291.99 and its 200-day moving average price is $313.34.

Heico (NYSE:HEI - Get Free Report) last announced its quarterly earnings data on Wednesday, February 25th. The aerospace company reported $1.35 earnings per share for the quarter, beating analysts' consensus estimates of $1.26 by $0.09. The company had revenue of $1.18 billion for the quarter, compared to analysts' expectations of $1.17 billion. Heico had a return on equity of 16.57% and a net margin of 15.38%.Heico's revenue for the quarter was up 14.4% compared to the same quarter last year. During the same period last year, the firm posted $1.20 EPS. On average, equities research analysts expect that Heico will post 5.56 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Julie Neitzel sold 676 shares of the company's stock in a transaction dated Wednesday, April 15th. The shares were sold at an average price of $223.00, for a total transaction of $150,748.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 4.86% of the company's stock.

Hedge Funds Weigh In On Heico

A number of hedge funds and other institutional investors have recently modified their holdings of HEI. American Century Companies Inc. boosted its position in Heico by 45.7% during the third quarter. American Century Companies Inc. now owns 769,704 shares of the aerospace company's stock valued at $248,476,000 after purchasing an additional 241,559 shares in the last quarter. Diamant Asset Management Inc. lifted its holdings in Heico by 25,698.9% in the first quarter. Diamant Asset Management Inc. now owns 763,647 shares of the aerospace company's stock valued at $209,392,000 after acquiring an additional 760,687 shares during the period. Two Sigma Investments LP lifted its holdings in Heico by 0.6% in the third quarter. Two Sigma Investments LP now owns 558,661 shares of the aerospace company's stock valued at $180,347,000 after acquiring an additional 3,166 shares during the period. Fisher Asset Management LLC lifted its holdings in Heico by 12.1% in the fourth quarter. Fisher Asset Management LLC now owns 326,386 shares of the aerospace company's stock valued at $105,615,000 after acquiring an additional 35,288 shares during the period. Finally, Munro Partners raised its position in shares of Heico by 44.2% in the fourth quarter. Munro Partners now owns 284,898 shares of the aerospace company's stock worth $92,190,000 after acquiring an additional 87,265 shares during the period. 27.12% of the stock is currently owned by institutional investors.

About Heico

HEICO Corporation is an aerospace, defense and electronics company that designs, manufactures, and sells a range of products and provides repair and aftermarket services. Headquartered in Hollywood, Florida, HEICO supplies replacement components, repair services and engineered systems for commercial and business aviation, military and space markets as well as for selected industrial and medical customers. The company's offerings are focused on sustaining and improving the reliability and availability of complex equipment across its end markets.

HEICO operates through two principal business areas.

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