Insider Buying: Heico (NYSE:HEI) Director Buys $175,138.50 in Stock

Heico Corporation (NYSE:HEI) Director Adolfo Henriques purchased 795 shares of the stock in a transaction dated Thursday, October 8th. The stock was bought at an average cost of $220.30 per share, with a total value of $175,138.50. Following the transaction, the director owned 24,864 shares in the company, valued at $5,477,539.20. The trade was a 3.30% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Heico Stock Performance

Shares of Heico stock opened at $308.46 on Friday. The stock has a market cap of $43.11 billion, a price-to-earnings ratio of 51.33, a PEG ratio of 2.50 and a beta of 1.09. The firm’s 50-day moving average is $324.29 and its 200 day moving average is $320.66. Heico Corporation has a 1 year low of $256.11 and a 1 year high of $376.86. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.72 and a quick ratio of 1.27.

Heico (NYSE:HEI) last announced its quarterly earnings data on Tuesday, August 25th. The aerospace company reported $1.67 EPS for the quarter, beating the consensus estimate of $1.51 by $0.16. The company had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.36 billion. Heico had a net margin of 16.38% and a return on equity of 18.00%. Heico’s revenue for the quarter was up 23.1% on a year-over-year basis. During the same period in the prior year, the firm posted $1.26 EPS. Sell-side analysts anticipate that Heico Corporation will post 6.28 EPS for the current fiscal year.

Institutional Investors Weigh In On Heico

Institutional investors have recently modified their holdings of the business. Maridea Wealth Management LLC bought a new position in Heico during the 2nd quarter valued at about $1,128,000. Silvant Capital Management LLC purchased a new stake in shares of Heico during the 2nd quarter valued at about $9,385,000. SBI Okasan Asset Management Co.Ltd. bought a new stake in shares of Heico in the second quarter worth approximately $1,262,000. Cypress Capital Management LLC WY bought a new stake in shares of Heico in the second quarter worth approximately $1,315,000. Finally, Safeguard Investment Advisory Group LLC bought a new stake in shares of Heico in the second quarter worth approximately $2,330,000. 27.12% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Jefferies Financial Group set a $430.00 target price on shares of Heico and gave the stock a “buy” rating in a research note on Wednesday, August 26th. TD Cowen cut their price target on shares of Heico from $350.00 to $330.00 and set a “hold” rating on the stock in a report on Friday, October 9th. Stifel Nicolaus set a $410.00 price target on shares of Heico in a research report on Thursday, August 27th. UBS Group reissued a “neutral” rating and set a $396.00 price target (up from $382.00) on shares of Heico in a research report on Thursday, August 27th. Finally, The Goldman Sachs Group restated a “buy” rating and issued a $491.00 price objective on shares of Heico in a report on Monday, August 31st. Three research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Heico presently has an average rating of “Moderate Buy” and an average price target of $387.00.

Heico Company Profile

HEICO Corporation is an aerospace, defense, and electronics company that designs, manufactures, and distributes specialized products for commercial aviation, defense, space, medical, telecommunications, and other industrial markets. Founded in 1957, the company is headquartered in Hollywood, Florida, and serves customers worldwide, including airlines, original equipment manufacturers, government agencies, and defense contractors.

HEICO operates through two primary segments. Its Flight Support Group produces FAA-approved replacement parts for jet engines and aircraft components, as well as provides aircraft and engine component repair, overhaul, and maintenance services.