Heico (NYSE:HEI) Raised to “Hold” at Wells Fargo & Company

Heico (NYSE:HEI) was upgraded by equities researchers at Wells Fargo & Company to a “hold” rating in a research report issued on Tuesday,Zacks.com reports.

HEI has been the subject of a number of other research reports. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Heico in a research note on Monday, December 29th. Stifel Nicolaus set a $370.00 price target on Heico and gave the stock a “buy” rating in a report on Monday, December 22nd. Truist Financial upped their price target on Heico from $366.00 to $391.00 and gave the stock a “buy” rating in a research note on Tuesday, December 23rd. Susquehanna assumed coverage on shares of Heico in a report on Friday, January 23rd. They set a “neutral” rating and a $385.00 price objective for the company. Finally, Citigroup reiterated a “buy” rating and set a $415.00 price objective (up from $367.00) on shares of Heico in a research report on Tuesday, January 13th. Ten analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $365.29.

Heico Stock Up 0.6%

HEI opened at $275.74 on Tuesday. The stock has a market cap of $38.47 billion, a price-to-earnings ratio of 54.49, a price-to-earnings-growth ratio of 3.36 and a beta of 1.01. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.41 and a current ratio of 3.06. The firm’s fifty day moving average is $314.11 and its 200 day moving average is $319.17. Heico has a fifty-two week low of $229.07 and a fifty-two week high of $361.69.

Heico (NYSE:HEI) last issued its quarterly earnings results on Wednesday, February 25th. The aerospace company reported $1.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.26 by $0.09. The business had revenue of $1.18 billion during the quarter, compared to analyst estimates 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 quarter in the prior year, the business posted $1.20 EPS. On average, sell-side analysts forecast that Heico will post 4.2 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Heico

A number of hedge funds have recently made changes to their positions in the company. IFC & Insurance Marketing Inc. bought a new position in Heico during the fourth quarter valued at approximately $26,000. Westside Investment Management Inc. increased its stake in Heico by 100.0% in the 3rd quarter. Westside Investment Management Inc. now owns 86 shares of the aerospace company’s stock worth $28,000 after acquiring an additional 43 shares during the last quarter. CBIZ Investment Advisory Services LLC raised 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 worth $28,000 after acquiring an additional 80 shares in the last quarter. Greykasell Wealth Strategies Inc. purchased a new stake in shares of Heico during the 3rd quarter worth approximately $29,000. Finally, Hazlett Burt & Watson Inc. bought a new position in shares of Heico during the 3rd quarter valued at approximately $31,000. 27.12% of the stock is currently owned by hedge funds and other 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.