Bank of America Boosts HEICO (NYSE:HEI) Price Target to $285.00

HEICO (NYSE:HEI) had its target price upped by Bank of America from $250.00 to $285.00 in a research note issued to investors on Thursday morning, Benzinga reports. The brokerage currently has a buy rating on the aerospace company’s stock.

Several other research analysts have also recently weighed in on HEI. Robert W. Baird boosted their price target on HEICO from $243.00 to $280.00 and gave the stock an outperform rating in a research note on Wednesday, August 28th. Truist Financial upped their target price on shares of HEICO from $248.00 to $264.00 and gave the company a buy rating in a research note on Wednesday, August 28th. Benchmark reiterated a buy rating and issued a $245.00 price target on shares of HEICO in a research note on Tuesday, August 27th. Stifel Nicolaus boosted their price objective on shares of HEICO from $250.00 to $280.00 and gave the company a buy rating in a report on Tuesday, August 27th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on shares of HEICO from $235.00 to $271.00 and gave the stock a buy rating in a research report on Wednesday, September 4th. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, HEICO has a consensus rating of Moderate Buy and an average price target of $263.56.

HEICO Stock Performance

Shares of HEI stock opened at $265.81 on Thursday. The company has a market capitalization of $36.81 billion, a price-to-earnings ratio of 83.59, a price-to-earnings-growth ratio of 3.61 and a beta of 1.22. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.47 and a current ratio of 3.30. HEICO has a one year low of $155.42 and a one year high of $265.98. The company’s 50-day moving average is $242.58 and its 200 day moving average is $220.57.

HEICO (NYSE:HEI) last posted its quarterly earnings results on Monday, August 26th. The aerospace company reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.92 by $0.05. The firm had revenue of $992.20 million for the quarter, compared to analysts’ expectations of $995.34 million. HEICO had a net margin of 12.64% and a return on equity of 14.51%. The business’s revenue for the quarter was up 37.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.77 earnings per share. Sell-side analysts expect that HEICO will post 3.63 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Eric A. Mendelson sold 8,864 shares of the firm’s stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $180.54, for a total value of $1,600,306.56. Following the transaction, the insider now owns 222,401 shares of the company’s stock, valued at $40,152,276.54. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other HEICO news, Director Frank J. Schwitter acquired 475 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were bought at an average price of $252.26 per share, with a total value of $119,823.50. Following the completion of the acquisition, the director now owns 1,730 shares in the company, valued at approximately $436,409.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Eric A. Mendelson sold 8,864 shares of HEICO stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $180.54, for a total transaction of $1,600,306.56. Following the transaction, the insider now directly owns 222,401 shares in the company, valued at approximately $40,152,276.54. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 85,206 shares of company stock valued at $15,571,927. 8.10% of the stock is owned by insiders.

Hedge Funds Weigh In On HEICO

Several large investors have recently added to or reduced their stakes in HEI. AGF Management Ltd. lifted its holdings in HEICO by 61.7% during the second quarter. AGF Management Ltd. now owns 949,945 shares of the aerospace company’s stock valued at $212,417,000 after purchasing an additional 362,625 shares in the last quarter. Capital World Investors lifted its holdings in HEICO by 10.5% during the fourth quarter. Capital World Investors now owns 3,276,326 shares of the aerospace company’s stock valued at $586,036,000 after purchasing an additional 311,304 shares in the last quarter. Vantage Investment Partners LLC purchased a new position in HEICO during the second quarter valued at approximately $26,993,000. Driehaus Capital Management LLC lifted its holdings in HEICO by 66.0% during the second quarter. Driehaus Capital Management LLC now owns 193,895 shares of the aerospace company’s stock valued at $43,357,000 after purchasing an additional 77,067 shares in the last quarter. Finally, EULAV Asset Management lifted its holdings in HEICO by 23.4% during the first quarter. EULAV Asset Management now owns 352,093 shares of the aerospace company’s stock valued at $67,250,000 after purchasing an additional 66,800 shares in the last quarter. Hedge funds and other institutional investors 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.