Heico (NYSE:HEI) Raised to “Strong-Buy” at Zacks Research

Heico (NYSE:HEI) was upgraded by investment analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a note issued to investors on Tuesday,Zacks.com reports.

HEI has been the subject of several other reports. Wall Street Zen raised shares of Heico from a “hold” rating to a “buy” rating in a research note on Saturday, June 6th. Citigroup reissued a “buy” rating and set a $403.00 price objective (up from $323.00) on shares of Heico in a research note on Monday, June 1st. Truist Financial raised shares of Heico to a “strong-buy” rating in a research note on Friday, May 1st. Royal Bank Of Canada boosted their price objective on shares of Heico from $375.00 to $390.00 and gave the company an “outperform” rating in a research note on Friday, May 29th. Finally, Rothschild & Co Redburn set a $360.00 price target on shares of Heico and gave the stock a “buy” rating in a research report on Wednesday, May 13th. Three equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $371.63.

Heico Stock Down 1.7%

HEI stock opened at $320.72 on Tuesday. The stock has a market capitalization of $44.79 billion, a P/E ratio of 57.27, a PEG ratio of 3.48 and a beta of 1.03. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.36 and a current ratio of 2.92. Heico has a one year low of $256.11 and a one year high of $361.69. The company has a 50 day moving average price of $295.19 and a two-hundred day moving average price of $312.26.

Heico (NYSE:HEI) last released its earnings results on Wednesday, May 27th. The aerospace company reported $1.66 EPS for the quarter, topping the consensus estimate of $1.33 by $0.33. The firm had revenue of $1.38 billion during the quarter, compared to analysts’ expectations of $1.25 billion. Heico had a net margin of 16.08% and a return on equity of 17.52%. Heico’s revenue for the quarter was up 25.3% on a year-over-year basis. During the same period in the previous year, the company earned $1.12 EPS. As a group, sell-side analysts expect that Heico will post 5.78 EPS for the current year.

Insider Buying and Selling at Heico

In related news, Director Julie Neitzel sold 676 shares of the business’s stock in a transaction dated Wednesday, April 15th. The shares were sold at an average price of $223.00, for a total transaction of $150,748.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 4.86% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Heico

A number of institutional investors have recently modified their holdings of the business. American Century Companies Inc. grew its position in shares of Heico by 45.7% during the 3rd quarter. American Century Companies Inc. now owns 769,704 shares of the aerospace company’s stock valued at $248,476,000 after buying an additional 241,559 shares during the last quarter. Diamant Asset Management Inc. grew its position in shares of Heico by 25,698.9% during the 1st quarter. Diamant Asset Management Inc. now owns 763,647 shares of the aerospace company’s stock valued at $209,392,000 after buying an additional 760,687 shares during the last quarter. Two Sigma Investments LP grew its position in Heico by 0.6% in the 3rd quarter. Two Sigma Investments LP now owns 558,661 shares of the aerospace company’s stock worth $180,347,000 after purchasing an additional 3,166 shares during the last quarter. Fisher Asset Management LLC grew its position in Heico by 12.1% in the 4th quarter. Fisher Asset Management LLC now owns 326,386 shares of the aerospace company’s stock worth $105,615,000 after purchasing an additional 35,288 shares during the last quarter. Finally, Munro Partners grew its position in Heico by 44.2% in the 4th quarter. Munro Partners now owns 284,898 shares of the aerospace company’s stock worth $92,190,000 after purchasing an additional 87,265 shares during the last quarter. Institutional investors own 27.12% of the company’s stock.

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.