Heico (NYSE:HEI.A) Shares Cross Above 200 Day Moving Average - Here's Why

Key Points

• Heico shares rose 5.1% and crossed above their 200-day moving average of $239.55, reaching $245.76 during Thursday trading.
• Zacks Research upgraded Heico from “hold” to “strong buy,” with the stock receiving an average Strong Buy rating from analysts.
• Insiders purchased 5,362 shares worth approximately $1.23 million during the last quarter, while Heico reported quarterly revenue of $1.41 billion and EPS of $1.67.

Heico Corporation (NYSE:HEI.A - Get Free Report)'s share price crossed above its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $239.55 and traded as high as $245.76. Heico shares last traded at $244.7980, with a volume of 281,147 shares trading hands.

Analysts Set New Price Targets

Separately, Zacks Research raised shares of Heico from a "hold" rating to a "strong-buy" rating in a report on Friday, October 2nd. Two investment analysts have rated the stock with a Strong Buy rating. According to data from MarketBeat, Heico has an average rating of "Strong Buy".

Heico Stock Up 5.1%

The stock's fifty day moving average is $233.71 and its two-hundred day moving average is $239.55. The company has a current ratio of 2.72, a quick ratio of 1.27 and a debt-to-equity ratio of 0.51. The firm has a market cap of $34.21 billion, a P/E ratio of 40.73 and a beta of 1.13.

Heico (NYSE:HEI.A - Get Free Report) last posted its earnings results on Tuesday, August 25th. The company reported $1.67 earnings per share (EPS) for the quarter. Heico had a net margin of 16.38% and a return on equity of 18.00%. The business had revenue of $1.41 billion for the quarter.

Insider Transactions at Heico

In other Heico news, Director Mark H. Hildebrandt acquired 795 shares of the stock in a transaction that occurred on Thursday, October 8th. The shares were bought at an average price of $220.30 per share, for a total transaction of $175,138.50. Following the completion of the transaction, the director owned 50,218 shares of the company's stock, valued at approximately $11,063,025.40. This represents a 1.61% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Alan Schriesheim acquired 795 shares of the company's stock in a transaction that occurred on Thursday, October 8th. The shares were acquired at an average cost of $220.30 per share, with a total value of $175,138.50. Following the purchase, the director directly owned 1,202 shares of the company's stock, valued at $264,800.60. This trade represents a 195.33% increase in their position. The SEC filing for this purchase provides additional information. In the last quarter, insiders have purchased 5,362 shares of company stock valued at $1,225,430. Corporate insiders own 9.76% of the company's stock.

Heico Company Profile

HEICO Corporation is a diversified aerospace, defense, electronics and industrial technology company headquartered in Hollywood, Florida. Founded in 1957, the company develops and manufactures products used by commercial and regional airlines, aircraft manufacturers, defense contractors, space companies, medical organizations, telecommunications providers and other industrial customers worldwide.

HEICO operates through two primary business segments. Its Flight Support Group supplies FAA-approved replacement parts and provides repair, overhaul and other maintenance services for commercial and military aircraft.

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