Heico Corporation (NYSE:HEI) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of Heico Corporation (NYSE:HEI) have been given an average recommendation of “Moderate Buy” by the seventeen brokerages that are covering the firm, MarketBeat.com reports. Five analysts have rated the stock with a hold recommendation, nine have issued a buy recommendation and three have issued a strong buy recommendation on the company. The average 12 month price target among analysts that have covered the stock in the last year is $374.5625.

A number of equities research analysts have recently commented on the company. Weiss Ratings upgraded Heico from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, July 16th. UBS Group restated a “neutral” rating and set a $390.00 price target (up from $371.00) on shares of Heico in a research report on Monday, June 1st. Truist Financial raised shares of Heico to a “strong-buy” rating in a research report on Friday, May 1st. Morgan Stanley set a $370.00 target price on shares of Heico in a research note on Wednesday, July 15th. Finally, Royal Bank Of Canada increased their target price on shares of Heico from $375.00 to $390.00 and gave the company an “outperform” rating in a research report on Friday, May 29th.

Heico Stock Performance

Shares of HEI opened at $336.31 on Thursday. The company has a current ratio of 2.92, a quick ratio of 1.36 and a debt-to-equity ratio of 0.53. The company has a market capitalization of $46.97 billion, a price-to-earnings ratio of 60.06, a PEG ratio of 3.53 and a beta of 1.03. The stock has a 50 day moving average of $333.53 and a 200 day moving average of $318.03. Heico has a 12 month low of $256.11 and a 12 month high of $369.48.

Heico (NYSE:HEI) last posted its quarterly earnings data on Wednesday, May 27th. The aerospace company reported $1.66 earnings per share for the quarter, topping the consensus estimate of $1.33 by $0.33. The business had revenue of $1.38 billion for the quarter, compared to analysts’ expectations of $1.25 billion. Heico had a return on equity of 17.52% and a net margin of 16.08%.The business’s revenue was up 25.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.12 earnings per share. As a group, sell-side analysts forecast that Heico will post 5.95 earnings per share for the current year.

Heico Announces Dividend

The business also recently declared a dividend, which was paid on Wednesday, July 15th. Investors of record on Wednesday, July 1st were issued a $0.13 dividend. This represents a dividend yield of 7.0%. The ex-dividend date of this dividend was Wednesday, July 1st. Heico’s payout ratio is 4.64%.

Insider Buying and Selling

In other Heico news, CAO Bradley K. Rowen sold 1,326 shares of the stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $241.63, for a total transaction of $320,401.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 4.86% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Diamant Asset Management Inc. grew its stake 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 worth $209,392,000 after acquiring an additional 760,687 shares during the period. Two Sigma Investments LP raised its stake in Heico by 0.6% in the 3rd quarter. Two Sigma Investments LP now owns 558,661 shares of the aerospace company’s stock valued at $180,347,000 after acquiring an additional 3,166 shares during the period. Fisher Asset Management LLC lifted its holdings in Heico by 12.1% during the fourth quarter. Fisher Asset Management LLC now owns 326,386 shares of the aerospace company’s stock valued at $105,615,000 after purchasing an additional 35,288 shares during the last quarter. Munro Partners lifted its holdings in Heico by 44.2% during the fourth quarter. Munro Partners now owns 284,898 shares of the aerospace company’s stock valued at $92,190,000 after purchasing an additional 87,265 shares during the last quarter. Finally, CI Investments Inc. boosted its position in Heico by 40.0% during the fourth quarter. CI Investments Inc. now owns 164,036 shares of the aerospace company’s stock worth $53,080,000 after purchasing an additional 46,846 shares during the period. Hedge funds and other institutional investors own 27.12% of the company’s stock.

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.