Heico (NYSE:HEI) Upgraded at Wall Street Zen

Key Points

• Wall Street Zen upgraded Heico from “hold” to “buy,” while broader analyst sentiment remains “Moderate Buy,” with a consensus price target of $376.69.
• Heico reported a strong quarter, with earnings per share of $1.66 beating estimates by $0.33 and revenue rising 25.3% year over year to $1.38 billion.
• Shares opened at $375.03, near their 52-week high of $376.86; the company has a $52.38 billion market capitalization and trades at a P/E ratio of 66.97.

Heico (NYSE:HEI - Get Free Report) was upgraded by analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a report released on Saturday.

Several other equities analysts also recently commented on the stock. Susquehanna upped their price objective on shares of Heico from $321.00 to $365.00 and gave the company a "neutral" rating in a research note on Friday, May 29th. Wells Fargo & Company set a $350.00 target price on Heico and gave the stock an "equal weight" rating in a research note on Monday, June 1st. Truist Financial upgraded Heico to a "strong-buy" rating in a report on Friday, May 1st. UBS Group reaffirmed a "neutral" rating and set a $390.00 price target (up from $371.00) on shares of Heico in a research report on Monday, June 1st. Finally, Citigroup reiterated a "buy" rating and issued a $429.00 price objective (up from $410.00) on shares of Heico in a report on Thursday. Three equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat.com, Heico currently has a consensus rating of "Moderate Buy" and a consensus price target of $376.69.

Heico Trading Up 0.9%

Shares of HEI opened at $375.03 on Friday. The firm's 50 day simple moving average is $349.68 and its 200 day simple moving average is $319.97. The company has a market capitalization of $52.38 billion, a P/E ratio of 66.97, a P/E/G ratio of 3.85 and a beta of 1.04. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.92 and a quick ratio of 1.36. Heico has a 1-year low of $256.11 and a 1-year high of $376.86.

Heico (NYSE:HEI - Get Free Report) last released its quarterly earnings results on Wednesday, May 27th. The aerospace company reported $1.66 earnings per share for the quarter, beating analysts' consensus estimates of $1.33 by $0.33. Heico had a return on equity of 17.52% and a net margin of 16.08%.The business had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.25 billion. During the same quarter last year, the business posted $1.12 earnings per share. The company's revenue for the quarter was up 25.3% on a year-over-year basis. Sell-side analysts forecast that Heico will post 5.95 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CAO Bradley K. Rowen sold 1,326 shares of the company's stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $241.63, for a total value of $320,401.38. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 4.86% of the company's stock.

Institutional Investors Weigh In On Heico

Several institutional investors have recently modified their holdings of the business. IFC & Insurance Marketing Inc. bought a new stake in Heico in the 4th quarter worth approximately $26,000. CBIZ Investment Advisory Services LLC lifted its holdings in shares of Heico by 1,000.0% during the 4th quarter. CBIZ Investment Advisory Services LLC now owns 88 shares of the aerospace company's stock valued at $28,000 after buying an additional 80 shares during the period. Birchwood Financial Partners Inc. bought a new position in shares of Heico during the 4th quarter valued at $32,000. Miller Capital Partners Inc. purchased a new position in shares of Heico in the 4th quarter worth $70,000. Finally, BNP Paribas purchased a new position in shares of Heico in the 4th quarter worth $79,000. 27.12% of the stock is owned by hedge funds and other institutional investors.

Heico Company Profile

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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