Heico's (HEI) "Buy (B)" Rating Reiterated at Weiss Ratings

Key Points

• Heico's stock has received a reiterated "Buy (B)" rating from Weiss Ratings, reflecting continued confidence from analysts.
• The company's share price hit $316.16, with analysts projecting an average price target of $346.09 amidst positive quarterly earnings results.
• Institutional investors have shown growing interest in Heico, with notable increases in their positions, including a 92.0% lift by Ridgewood Investments LLC during the first quarter.

Heico (NYSE:HEI - Get Free Report)'s stock had its "buy (b)" rating restated by analysts at Weiss Ratings in a report issued on Tuesday,Weiss Ratings reports.

Other analysts have also recently issued research reports about the stock. Zacks Research upgraded shares of Heico to a "hold" rating in a research note on Monday, August 11th. Jefferies Financial Group reiterated a "buy" rating on shares of Heico in a report on Monday, August 18th. Bank of America upped their price target on shares of Heico from $355.00 to $400.00 and gave the company a "buy" rating in a report on Friday, September 5th. Stifel Nicolaus set a $360.00 target price on shares of Heico in a research note on Tuesday, August 26th. Finally, The Goldman Sachs Group restated a "buy" rating and issued a $382.00 target price (up from $337.00) on shares of Heico in a research note on Wednesday, August 27th. Ten investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $346.09.

Heico Price Performance

Shares of HEI traded up $4.80 during trading hours on Tuesday, reaching $316.16. 48,696 shares of the stock traded hands, compared to its average volume of 482,963. The company has a current ratio of 3.35, a quick ratio of 1.51 and a debt-to-equity ratio of 0.58. Heico has a 52-week low of $216.68 and a 52-week high of $338.92. The company's 50-day moving average price is $316.35 and its two-hundred day moving average price is $297.88. The company has a market cap of $44.01 billion, a P/E ratio of 69.23, a price-to-earnings-growth ratio of 3.60 and a beta of 1.08.

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

Institutional Investors Weigh In On Heico

Hedge funds and other institutional investors have recently bought and sold shares of the company. Ridgewood Investments LLC lifted its position in Heico by 92.0% during the first quarter. Ridgewood Investments LLC now owns 96 shares of the aerospace company's stock valued at $26,000 after acquiring an additional 46 shares during the last quarter. Costello Asset Management INC purchased a new stake in Heico during the first quarter valued at approximately $27,000. Caitong International Asset Management Co. Ltd lifted its position in Heico by 17,800.0% during the first quarter. Caitong International Asset Management Co. Ltd now owns 179 shares of the aerospace company's stock valued at $48,000 after acquiring an additional 178 shares during the last quarter. Andra AP fonden purchased a new stake in Heico during the second quarter valued at approximately $66,000. Finally, Banque Transatlantique SA raised its holdings in shares of Heico by 36.8% in the first quarter. Banque Transatlantique SA now owns 253 shares of the aerospace company's stock worth $62,000 after buying an additional 68 shares during the last quarter. Hedge funds and other institutional investors own 27.12% of the company's stock.

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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