Heico Corporation (NYSE:HEI) Stock Has Average Price Target of $392.14 According to Analysts

Heico Corporation (NYSE:HEI) has been given an average recommendation of “Moderate Buy” by the seventeen analysts that are covering the company, MarketBeat.com reports. Six investment analysts have rated the stock with a hold recommendation, eight have assigned a buy recommendation and three have assigned a strong buy recommendation to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $391.07.

Several research firms have recently weighed in on HEI. Guggenheim initiated coverage on shares of Heico in a research report on Monday, September 14th. They issued a “neutral” rating for the company. UBS Group reiterated a “neutral” rating and issued a $396.00 target price (up from $382.00) on shares of Heico in a research note on Thursday, August 27th. Weiss Ratings upgraded Heico from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, July 16th. Citigroup lifted their price objective on shares of Heico from $429.00 to $441.00 and gave the company a “buy” rating in a research note on Friday, August 28th. Finally, Stifel Nicolaus set a $410.00 target price on shares of Heico in a research report on Thursday, August 27th.

Heico Stock Performance

Heico stock opened at $302.24 on Tuesday. Heico has a 12-month low of $256.11 and a 12-month high of $376.86. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.72 and a quick ratio of 1.27. The company has a market capitalization of $42.24 billion, a price-to-earnings ratio of 50.29, a price-to-earnings-growth ratio of 2.55 and a beta of 1.09. The firm’s fifty day moving average price is $334.27 and its 200 day moving average price is $319.47.

Heico (NYSE:HEI) last announced its earnings results on Tuesday, August 25th. The aerospace company reported $1.67 earnings per share for the quarter, beating the consensus estimate of $1.51 by $0.16. Heico had a return on equity of 18.00% and a net margin of 16.38%.The company had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.36 billion. During the same period last year, the firm earned $1.26 earnings per share. The company’s revenue was up 23.1% on a year-over-year basis. On average, research analysts forecast that Heico will post 6.25 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Diamant Asset Management Inc. boosted its stake in 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 purchasing an additional 760,687 shares in the last quarter. Munro Partners raised its stake in shares of 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 buying an additional 87,265 shares in the last quarter. Bank of New York Mellon Corp bought a new stake in shares of Heico in the 2nd quarter worth $54,386,000. Weitz Investment Management Inc. acquired a new stake in shares of Heico in the second quarter valued at $52,737,000. Finally, Freestone Grove Partners LP acquired a new stake in shares of Heico in the second quarter valued at $50,276,000. Institutional investors and hedge funds own 27.12% of the company’s stock.

About Heico

HEICO Corporation is an aerospace, defense, and electronics company that designs, manufactures, and distributes specialized products for commercial aviation, defense, space, medical, telecommunications, and other industrial markets. Founded in 1957, the company is headquartered in Hollywood, Florida, and serves customers worldwide, including airlines, original equipment manufacturers, government agencies, and defense contractors.

HEICO operates through two primary segments. Its Flight Support Group produces FAA-approved replacement parts for jet engines and aircraft components, as well as provides aircraft and engine component repair, overhaul, and maintenance services.