Heico (NYSE:HEI) Upgraded by Truist Financial to Strong-Buy Rating

Truist Financial upgraded shares of Heico (NYSE:HEI) to a strong-buy rating in a research report released on Friday morning,Zacks.com reports.

Several other equities research analysts have also recently issued reports on the company. BNP Paribas Exane upgraded Heico from a “neutral” rating to an “outperform” rating in a report on Friday, February 27th. Wall Street Zen cut Heico from a “buy” rating to a “hold” rating in a report on Sunday, March 8th. Wells Fargo & Company initiated coverage on Heico in a report on Wednesday, April 1st. They issued an “equal weight” rating and a $290.00 target price on the stock. Susquehanna initiated coverage on Heico in a report on Friday, January 23rd. They issued a “neutral” rating and a $385.00 target price on the stock. Finally, Citigroup reduced their target price on Heico from $400.00 to $323.00 and set a “buy” rating on the stock in a report on Thursday, April 2nd. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat.com, Heico presently has a consensus rating of “Moderate Buy” and a consensus price target of $358.71.

Heico Trading Down 0.4%

Shares of HEI stock traded down $0.95 during mid-day trading on Friday, hitting $268.97. 658,087 shares of the company’s stock were exchanged, compared to its average volume of 550,926. Heico has a fifty-two week low of $256.11 and a fifty-two week high of $361.69. The stock has a 50-day simple moving average of $291.99 and a two-hundred day simple moving average of $313.34. The company has a quick ratio of 1.41, a current ratio of 3.06 and a debt-to-equity ratio of 0.55. The stock has a market cap of $37.53 billion, a price-to-earnings ratio of 53.16, a PEG ratio of 3.30 and a beta of 0.95.

Heico (NYSE:HEI) last posted its quarterly earnings data on Wednesday, February 25th. The aerospace company reported $1.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.26 by $0.09. Heico had a return on equity of 16.57% and a net margin of 15.38%.The business had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.17 billion. During the same quarter last year, the firm earned $1.20 earnings per share. The business’s revenue was up 14.4% on a year-over-year basis. Equities analysts expect that Heico will post 5.56 EPS for the current fiscal year.

Insider Activity at Heico

In other Heico news, Director Julie Neitzel sold 676 shares of the business’s stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $223.00, for a total transaction of $150,748.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. 4.86% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of HEI. Acadian Asset Management LLC lifted its stake in shares of Heico by 216.7% during the first quarter. Acadian Asset Management LLC now owns 1,381 shares of the aerospace company’s stock worth $368,000 after purchasing an additional 945 shares in the last quarter. Worldquant Millennium Advisors LLC acquired a new position in shares of Heico during the second quarter worth about $2,338,000. PDT Partners LLC lifted its stake in shares of Heico by 52.6% during the second quarter. PDT Partners LLC now owns 39,019 shares of the aerospace company’s stock worth $12,798,000 after purchasing an additional 13,443 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S lifted its stake in shares of Heico by 10.8% during the second quarter. BI Asset Management Fondsmaeglerselskab A S now owns 4,794 shares of the aerospace company’s stock worth $1,572,000 after purchasing an additional 468 shares in the last quarter. Finally, IHT Wealth Management LLC lifted its stake in shares of Heico by 2.1% during the second quarter. IHT Wealth Management LLC now owns 5,717 shares of the aerospace company’s stock worth $1,875,000 after purchasing an additional 117 shares in the last quarter. Institutional investors and hedge funds own 27.12% of the company’s stock.

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.