Heico (NYSE:HEI) Upgraded by BNP Paribas to “Hold” Rating

BNP Paribas upgraded shares of Heico (NYSE:HEI) to a hold rating in a research note issued to investors on Tuesday morning,Zacks.com reports.

Other analysts have also recently issued research reports about the stock. Robert W. Baird increased their price target on shares of Heico from $360.00 to $400.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 27th. The Goldman Sachs Group reiterated a “buy” rating and set a $382.00 target price (up previously from $337.00) on shares of Heico in a research note on Wednesday, August 27th. Barclays raised their price target on Heico from $280.00 to $300.00 and gave the stock an “equal weight” rating in a report on Tuesday, September 2nd. Jefferies Financial Group reaffirmed a “buy” rating on shares of Heico in a research note on Monday, August 18th. Finally, Royal Bank Of Canada set a $350.00 target price on Heico in a research note on Wednesday, August 27th. Ten research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Heico currently has an average rating of “Moderate Buy” and an average price target of $343.62.

Heico Stock Performance

NYSE:HEI traded down $1.96 during mid-day trading on Tuesday, reaching $305.52. 152,311 shares of the stock were exchanged, compared to its average volume of 462,948. The company has a 50 day simple moving average of $316.92 and a 200-day simple moving average of $310.21. The stock has a market capitalization of $42.53 billion, a P/E ratio of 66.78, a P/E/G ratio of 3.64 and a beta of 1.08. The company has a quick ratio of 1.51, a current ratio of 3.35 and a debt-to-equity ratio of 0.58. Heico has a 1 year low of $216.68 and a 1 year high of $338.92.

Heico (NYSE:HEI) last issued its quarterly earnings data on Monday, August 25th. The aerospace company reported $1.26 earnings per share for the quarter, beating analysts’ consensus estimates of $1.12 by $0.14. The company had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.11 billion. Heico had a return on equity of 16.29% and a net margin of 14.96%.The firm’s revenue for the quarter was up 15.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.97 earnings per share. Analysts anticipate that Heico will post 4.2 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Heico news, Director Carol F. Fine purchased 672 shares of the firm’s stock in a transaction that occurred on Friday, October 10th. The shares were purchased at an average cost of $243.93 per share, for a total transaction of $163,920.96. Following the completion of the purchase, the director directly owned 672 shares in the company, valued at $163,920.96. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Alan Schriesheim acquired 672 shares of the business’s stock in a transaction on Friday, October 10th. The stock was acquired at an average price of $243.93 per share, with a total value of $163,920.96. Following the transaction, the director directly owned 672 shares of the company’s stock, valued at $163,920.96. This represents a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last ninety days, insiders acquired 4,448 shares of company stock worth $1,086,933. Corporate insiders own 9.55% of the company’s stock.

Institutional Trading of Heico

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Nikko Asset Management Americas Inc. grew its position in Heico by 2.6% during the first quarter. Nikko Asset Management Americas Inc. now owns 16,087 shares of the aerospace company’s stock worth $4,298,000 after buying an additional 402 shares during the period. Ridgewood Investments LLC boosted its stake in shares of Heico by 92.0% during the 1st quarter. Ridgewood Investments LLC now owns 96 shares of the aerospace company’s stock worth $26,000 after acquiring an additional 46 shares in the last quarter. Mackenzie Financial Corp acquired a new stake in shares of Heico in the 1st quarter worth approximately $40,949,000. Dearborn Partners LLC purchased a new position in Heico in the 1st quarter valued at approximately $222,000. Finally, Baader Bank Aktiengesellschaft raised its holdings in Heico by 0.8% during the first quarter. Baader Bank Aktiengesellschaft now owns 17,788 shares of the aerospace company’s stock worth $4,745,000 after purchasing an additional 138 shares during the last quarter. Institutional investors and hedge funds 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.