Heico Corporation (NYSE:HEI) Receives $374.56 Consensus Price Target from Brokerages

Heico Corporation (NYSE:HEI) has been given a consensus rating of “Moderate Buy” by the seventeen analysts that are covering the firm, Marketbeat.com reports. Five equities research analysts have rated the stock with a hold rating, nine have given a buy rating and three have given a strong buy rating to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $374.5625.

HEI has been the topic of several research reports. UBS Group restated a “neutral” rating and issued a $390.00 price target (up from $371.00) on shares of Heico in a research report on Monday, June 1st. Weiss Ratings upgraded shares of Heico from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, July 16th. Royal Bank Of Canada upped their target price on shares of Heico from $375.00 to $390.00 and gave the company an “outperform” rating in a research report on Friday, May 29th. Wall Street Zen lowered Heico from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. Finally, Truist Financial raised Heico to a “strong-buy” rating in a research note on Friday, May 1st.

Heico Trading Up 1.7%

Shares of HEI opened at $373.25 on Monday. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.92 and a quick ratio of 1.36. The company has a 50 day simple moving average of $348.05 and a two-hundred day simple moving average of $319.31. Heico has a 1 year low of $256.11 and a 1 year high of $376.86. The firm has a market cap of $52.13 billion, a P/E ratio of 66.65, a price-to-earnings-growth ratio of 3.80 and a beta of 1.04.

Heico (NYSE:HEI) last released its quarterly earnings data on Wednesday, May 27th. The aerospace company reported $1.66 EPS for the quarter, beating the consensus estimate of $1.33 by $0.33. The business had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.25 billion. Heico had a net margin of 16.08% and a return on equity of 17.52%. The business’s revenue was up 25.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.12 EPS. On average, equities analysts expect that Heico will post 5.95 earnings per share for the current fiscal year.

Heico Dividend Announcement

The business also recently announced a dividend, which was paid on Wednesday, July 15th. Stockholders of record on Wednesday, July 1st were given a dividend of $0.13 per share. The ex-dividend date of this dividend was Wednesday, July 1st. This represents a dividend yield of 7.0%. Heico’s payout ratio is currently 4.64%.

Insiders Place Their Bets

In related news, CAO Bradley K. Rowen sold 1,326 shares of the stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $241.63, for a total transaction of $320,401.38. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 4.86% of the company’s stock.

Hedge Funds Weigh In On Heico

A number of large investors have recently made changes to their positions in the company. IFC & Insurance Marketing Inc. purchased a new position in Heico during the 4th quarter valued at $26,000. CBIZ Investment Advisory Services LLC grew its holdings in 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. Birchwood Financial Partners Inc. purchased a new position in Heico during the 4th quarter valued at about $32,000. V Square Quantitative Management LLC bought a new stake in shares of Heico in the 4th quarter valued at about $37,000. Finally, Flagship Harbor Advisors LLC purchased a new stake in shares of Heico in the 4th quarter worth approximately $65,000. 27.12% of the stock is 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.