Heico (NYSE:HEI) Stock Rating Upgraded by Zacks Research

Heico (NYSE:HEI) was upgraded by investment analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued on Tuesday,Zacks.com reports.

Several other research analysts have also commented on HEI. Susquehanna increased their price target on shares of Heico from $321.00 to $365.00 and gave the stock a “neutral” rating in a research note on Friday, May 29th. Truist Financial upgraded shares of Heico to a “strong-buy” rating in a research note on Friday, May 1st. Weiss Ratings lowered shares of Heico from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, April 22nd. Wells Fargo & Company set a $350.00 target price on shares of Heico and gave the company an “equal weight” rating in a research note on Monday, June 1st. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a $410.00 target price (up from $375.00) on shares of Heico in a research note on Thursday, May 28th. Three analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $371.63.

Heico Price Performance

NYSE HEI opened at $320.72 on Tuesday. Heico has a 52 week low of $256.11 and a 52 week high of $361.69. The company has a current ratio of 2.92, a quick ratio of 1.36 and a debt-to-equity ratio of 0.53. The stock has a market cap of $44.79 billion, a price-to-earnings ratio of 57.27, a price-to-earnings-growth ratio of 3.48 and a beta of 1.03. The company has a 50-day moving average price of $295.19 and a two-hundred day moving average price of $312.26.

Heico (NYSE:HEI) last posted its quarterly earnings data on Wednesday, May 27th. The aerospace company reported $1.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.33 by $0.33. Heico had a net margin of 16.08% and a return on equity of 17.52%. The business had revenue of $1.38 billion during the quarter, compared to analysts’ expectations of $1.25 billion. During the same period last year, the firm posted $1.12 earnings per share. The business’s revenue was up 25.3% on a year-over-year basis. Analysts forecast that Heico will post 5.78 EPS for the current year.

Insiders Place Their Bets

In other news, Director Julie Neitzel sold 676 shares of the firm’s stock in a transaction dated Wednesday, April 15th. The shares were sold at an average price of $223.00, for a total transaction of $150,748.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 4.86% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Heico

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. American Century Companies Inc. lifted its holdings in shares of Heico by 45.7% during the 3rd quarter. American Century Companies Inc. now owns 769,704 shares of the aerospace company’s stock worth $248,476,000 after acquiring an additional 241,559 shares during the period. Diamant Asset Management Inc. lifted its holdings in shares of Heico by 25,698.9% during the 1st quarter. Diamant Asset Management Inc. now owns 763,647 shares of the aerospace company’s stock worth $209,392,000 after acquiring an additional 760,687 shares during the period. Two Sigma Investments LP lifted its holdings in Heico by 0.6% during the 3rd quarter. Two Sigma Investments LP now owns 558,661 shares of the aerospace company’s stock valued at $180,347,000 after purchasing an additional 3,166 shares during the last quarter. Fisher Asset Management LLC lifted its holdings in Heico by 12.1% during the 4th quarter. Fisher Asset Management LLC now owns 326,386 shares of the aerospace company’s stock valued at $105,615,000 after purchasing an additional 35,288 shares during the last quarter. Finally, Munro Partners lifted its holdings in Heico by 44.2% during the 4th quarter. Munro Partners now owns 284,898 shares of the aerospace company’s stock valued at $92,190,000 after purchasing an additional 87,265 shares during the last quarter. 27.12% of the stock is owned by 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.