Heico (NYSE:HEI) Price Target Raised to $365.00

Heico (NYSE:HEI) had its target price boosted by research analysts at Susquehanna from $321.00 to $365.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has a “neutral” rating on the aerospace company’s stock. Susquehanna’s target price would suggest a potential upside of 6.60% from the company’s previous close.

Other equities research analysts have also recently issued reports about the stock. Citigroup dropped their price target on shares of Heico from $400.00 to $323.00 and set a “buy” rating for the company in a research report on Thursday, April 2nd. BNP Paribas Exane raised shares of Heico from a “neutral” rating to an “outperform” rating in a research report on Friday, February 27th. Truist Financial upgraded shares of Heico to a “strong-buy” rating in a report on Friday, May 1st. Rothschild & Co Redburn set a $360.00 price target on Heico and gave the stock a “buy” rating in a research note on Wednesday, May 13th. Finally, Wall Street Zen lowered Heico from a “buy” rating to a “hold” rating in a research report on Sunday, March 8th. Two investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $360.75.

Heico Trading Down 0.8%

Shares of NYSE HEI traded down $2.67 during mid-day trading on Friday, reaching $342.40. 81,560 shares of the company’s stock were exchanged, compared to its average volume of 653,060. The firm has a market capitalization of $47.77 billion, a price-to-earnings ratio of 61.26, a PEG ratio of 3.79 and a beta of 0.95. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.41 and a current ratio of 3.06. Heico has a 52-week low of $256.11 and a 52-week high of $361.69. The company’s 50-day moving average is $285.42 and its 200-day moving average is $311.35.

Heico (NYSE:HEI) last issued its quarterly earnings data on Wednesday, May 27th. The aerospace company reported $1.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.33 by $0.33. The firm had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.25 billion. Heico had a return on equity of 17.98% and a net margin of 16.08%.The company’s quarterly revenue was up 25.3% on a year-over-year basis. During the same period last year, the company earned $1.12 EPS. Analysts expect that Heico will post 5.56 EPS for the current fiscal year.

Insider Activity at Heico

In related news, Director Julie Neitzel sold 676 shares of Heico stock in a transaction that occurred on Wednesday, April 15th. The shares were sold at an average price of $223.00, for a total value of $150,748.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 4.86% of the company’s stock.

Hedge Funds Weigh In On Heico

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Groupama Asset Managment increased its holdings in Heico by 24.0% in the third quarter. Groupama Asset Managment now owns 18,139 shares of the aerospace company’s stock valued at $5,856,000 after buying an additional 3,512 shares during the last quarter. Indivisible Partners purchased a new stake in Heico during the 4th quarter worth about $5,883,000. Dynamic Technology Lab Private Ltd boosted its position in shares of Heico by 145.7% during the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 8,134 shares of the aerospace company’s stock worth $2,626,000 after acquiring an additional 4,824 shares in the last quarter. Sumitomo Life Insurance Co. raised its position in shares of Heico by 97.3% during the 3rd quarter. Sumitomo Life Insurance Co. now owns 9,920 shares of the aerospace company’s stock worth $3,202,000 after acquiring an additional 4,892 shares in the last quarter. Finally, J.W. Cole Advisors Inc. raised its position in shares of Heico by 149.9% during the 3rd quarter. J.W. Cole Advisors Inc. now owns 3,051 shares of the aerospace company’s stock worth $985,000 after acquiring an additional 1,830 shares in the last quarter. Hedge funds and other institutional investors 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.