HEICO (NYSE:HEI) Hits New 12-Month High After Analyst Upgrade

HEICO Co. (NYSE:HEI)’s stock price reached a new 52-week high on Thursday after Bank of America raised their price target on the stock from $250.00 to $285.00. Bank of America currently has a buy rating on the stock. HEICO traded as high as $264.30 and last traded at $264.07, with a volume of 52150 shares. The stock had previously closed at $258.82.

Other research analysts have also issued research reports about the company. Morgan Stanley upgraded HEICO from an “underweight” rating to an “equal weight” rating and raised their price objective for the company from $178.00 to $225.00 in a report on Tuesday, June 4th. Robert W. Baird raised their price target on shares of HEICO from $243.00 to $280.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 28th. Benchmark reaffirmed a “buy” rating and set a $245.00 price objective on shares of HEICO in a research note on Tuesday, August 27th. Deutsche Bank Aktiengesellschaft raised their target price on shares of HEICO from $235.00 to $271.00 and gave the stock a “buy” rating in a research note on Wednesday, September 4th. Finally, Barclays began coverage on HEICO in a research report on Monday, August 19th. They issued an “equal weight” rating and a $250.00 price target for the company. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $263.56.

Insider Activity

In other news, Director Frank J. Schwitter purchased 475 shares of HEICO stock in a transaction dated Tuesday, September 3rd. The shares were purchased at an average price of $252.26 per share, with a total value of $119,823.50. Following the transaction, the director now owns 1,730 shares in the company, valued at $436,409.80. The purchase was disclosed in a document filed with the SEC, which is available through this link. In other HEICO news, insider Eric A. Mendelson sold 2,832 shares of the company’s stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $180.06, for a total value of $509,929.92. Following the transaction, the insider now owns 246,060 shares of the company’s stock, valued at $44,305,563.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Frank J. Schwitter purchased 475 shares of the company’s stock in a transaction 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 transaction, the director now owns 1,730 shares of the company’s stock, valued at $436,409.80. The disclosure for this purchase can be found here. Insiders sold a total of 85,206 shares of company stock valued at $15,571,927 in the last 90 days. Company insiders own 8.10% of the company’s stock.

Hedge Funds Weigh In On HEICO

Several large investors have recently made changes to their positions in HEI. Clear Harbor Asset Management LLC raised its position in HEICO by 0.4% in the second quarter. Clear Harbor Asset Management LLC now owns 22,845 shares of the aerospace company’s stock valued at $5,109,000 after purchasing an additional 80 shares during the period. Avalon Capital Management lifted its stake in HEICO by 3.5% during the 2nd quarter. Avalon Capital Management now owns 3,613 shares of the aerospace company’s stock worth $808,000 after acquiring an additional 123 shares in the last quarter. KPP Advisory Services LLC boosted its holdings in HEICO by 7.0% during the 4th quarter. KPP Advisory Services LLC now owns 1,900 shares of the aerospace company’s stock valued at $340,000 after acquiring an additional 124 shares during the period. Verity Asset Management Inc. grew its position in HEICO by 2.2% in the 1st quarter. Verity Asset Management Inc. now owns 6,400 shares of the aerospace company’s stock valued at $1,222,000 after acquiring an additional 139 shares in the last quarter. Finally, Avantax Advisory Services Inc. increased its stake in HEICO by 12.9% during the first quarter. Avantax Advisory Services Inc. now owns 1,437 shares of the aerospace company’s stock worth $275,000 after purchasing an additional 164 shares during the period. 27.12% of the stock is currently owned by institutional investors and hedge funds.

HEICO Price Performance

The company’s 50-day moving average price is $241.78 and its 200-day moving average price is $219.85. The company has a quick ratio of 1.47, a current ratio of 3.30 and a debt-to-equity ratio of 0.63. The firm has a market cap of $36.82 billion, a price-to-earnings ratio of 83.19, a PEG ratio of 3.61 and a beta of 1.22.

HEICO (NYSE:HEI) last issued its quarterly earnings results on Monday, August 26th. The aerospace company reported $0.97 EPS for the quarter, beating the consensus estimate of $0.92 by $0.05. HEICO had a net margin of 12.64% and a return on equity of 14.51%. The company had revenue of $992.20 million during the quarter, compared to analysts’ expectations of $995.34 million. During the same quarter last year, the company posted $0.77 EPS. The firm’s revenue was up 37.3% compared to the same quarter last year. On average, equities research analysts forecast that HEICO Co. will post 3.63 EPS for the current year.

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.