Heico (NYSE:HEI) Stock Rating Upgraded by Truist Financial

Heico (NYSE:HEI) was upgraded by equities researchers at Truist Financial to a “strong-buy” rating in a report issued on Friday,Zacks.com reports.

A number of other equities analysts also recently commented on the company. Wall Street Zen downgraded Heico from a “buy” rating to a “hold” rating in a research report on Sunday, March 8th. Wells Fargo & Company assumed coverage on Heico in a report on Wednesday, April 1st. They set an “equal weight” rating and a $290.00 price target for the company. BNP Paribas Exane raised Heico from a “neutral” rating to an “outperform” rating in a report on Friday, February 27th. Citigroup reduced their price objective on shares of Heico from $400.00 to $323.00 and set a “buy” rating for the company in a research report on Thursday, April 2nd. Finally, Weiss Ratings downgraded shares of Heico from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, April 22nd. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat.com, Heico currently has a consensus rating of “Moderate Buy” and a consensus price target of $358.71.

Heico Stock Performance

NYSE HEI opened at $268.97 on Friday. The company has a market cap of $37.53 billion, a P/E ratio of 53.16, a P/E/G ratio of 3.30 and a beta of 0.95. The company has a debt-to-equity ratio of 0.55, a current ratio of 3.06 and a quick ratio of 1.41. The stock has a 50-day moving average of $291.99 and a two-hundred day moving average of $313.34. Heico has a 1-year low of $256.11 and a 1-year high of $361.69.

Heico (NYSE:HEI) last released its earnings results on Wednesday, February 25th. The aerospace company reported $1.35 earnings per share for the quarter, beating the consensus estimate of $1.26 by $0.09. The company had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.17 billion. Heico had a return on equity of 16.57% and a net margin of 15.38%.Heico’s revenue was up 14.4% compared to the same quarter last year. During the same period in the previous year, the company posted $1.20 EPS. As a group, analysts anticipate that Heico will post 5.56 EPS for the current year.

Insider Transactions at Heico

In other news, Director Julie Neitzel sold 676 shares of the business’s stock in a transaction on 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 the SEC website. Corporate insiders own 4.86% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Acadian Asset Management LLC grew its holdings in Heico by 216.7% in the 1st quarter. Acadian Asset Management LLC now owns 1,381 shares of the aerospace company’s stock worth $368,000 after buying an additional 945 shares in the last quarter. Worldquant Millennium Advisors LLC acquired a new stake in shares of Heico in the second quarter worth $2,338,000. PDT Partners LLC boosted its holdings in shares of Heico by 52.6% during the second quarter. PDT Partners LLC now owns 39,019 shares of the aerospace company’s stock worth $12,798,000 after purchasing an additional 13,443 shares during the period. BI Asset Management Fondsmaeglerselskab A S boosted its holdings in shares of Heico by 10.8% during the second quarter. BI Asset Management Fondsmaeglerselskab A S now owns 4,794 shares of the aerospace company’s stock worth $1,572,000 after purchasing an additional 468 shares during the period. Finally, IHT Wealth Management LLC boosted its position in Heico by 2.1% during the second quarter. IHT Wealth Management LLC now owns 5,717 shares of the aerospace company’s stock valued at $1,875,000 after purchasing an additional 117 shares during the last quarter. 27.12% of the stock is owned by institutional investors and hedge funds.

Heico Company Profile

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.