HEICO (NYSE:HEI) Releases Quarterly Earnings Results, Beats Expectations By $0.02 EPS

HEICO (NYSE:HEI) released its quarterly earnings results on Tuesday. The aerospace company reported $0.99 EPS for the quarter, beating analysts’ consensus estimates of $0.97 by $0.02, Zacks reports. HEICO had a net margin of 12.64% and a return on equity of 14.51%. The firm had revenue of $1.01 billion during the quarter, compared to analyst estimates of $1.03 billion. During the same period in the previous year, the business earned $0.74 EPS. The business’s revenue for the quarter was up 8.2% on a year-over-year basis.

HEICO Trading Down 1.1 %

Shares of HEICO stock traded down $3.00 during midday trading on Tuesday, reaching $259.80. 881,213 shares of the company’s stock traded hands, compared to its average volume of 389,620. The company has a market cap of $36.01 billion, a PE ratio of 76.19, a price-to-earnings-growth ratio of 3.14 and a beta of 1.24. The stock has a 50 day moving average of $262.66 and a 200-day moving average of $247.55. HEICO has a 12 month low of $169.70 and a 12 month high of $283.60. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.47 and a current ratio of 3.30.

Insiders Place Their Bets

In other HEICO news, CEO Laurans A. Mendelson bought 725 shares of the company’s stock in a transaction dated Friday, October 18th. The shares were purchased at an average price of $262.94 per share, for a total transaction of $190,631.50. Following the acquisition, the chief executive officer now owns 929,984 shares in the company, valued at approximately $244,529,992.96. This represents a 0.08 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Alan Schriesheim sold 332 shares of the stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $201.63, for a total transaction of $66,941.16. The disclosure for this sale can be found here. In the last ninety days, insiders purchased 2,175 shares of company stock worth $571,895. 8.10% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

HEI has been the subject of a number of research reports. Stifel Nicolaus boosted their price target on shares of HEICO from $250.00 to $280.00 and gave the stock a “buy” rating in a research note on Tuesday, August 27th. Barclays assumed coverage on shares of HEICO in a research report on Monday, August 19th. They set an “equal weight” rating and a $250.00 price target on the stock. Bank of America boosted their price objective on shares of HEICO from $250.00 to $285.00 and gave the stock a “buy” rating in a report on Thursday, September 19th. Morgan Stanley upped their price target on shares of HEICO from $245.00 to $265.00 and gave the company an “equal weight” rating in a research report on Friday, October 18th. Finally, UBS Group assumed coverage on HEICO in a report on Tuesday, October 15th. They issued a “neutral” rating and a $277.00 price objective on the stock. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $270.70.

About HEICO

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.