HEICO (NYSE:HEI) Announces Earnings Results, Beats Estimates By $0.09 EPS

HEICO (NYSE:HEI) released its quarterly earnings results on Tuesday. The aerospace company reported $1.12 earnings per share for the quarter, beating the consensus estimate of $1.03 by $0.09, Zacks reports. HEICO had a return on equity of 14.63% and a net margin of 13.33%. The firm’s quarterly revenue was up 14.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.88 EPS.

HEICO Stock Up 2.2%

Shares of HEI opened at $273.98 on Wednesday. The business’s 50 day moving average is $258.90 and its 200 day moving average is $251.63. The company has a current ratio of 3.11, a quick ratio of 1.34 and a debt-to-equity ratio of 0.60. HEICO has a 12-month low of $211.92 and a 12-month high of $283.60. The company has a market capitalization of $38.07 billion, a PE ratio of 74.86, a price-to-earnings-growth ratio of 3.10 and a beta of 1.05.

Insiders Place Their Bets

In other news, Director Alan Schriesheim sold 50,000 shares of HEICO stock in a transaction dated Tuesday, April 22nd. The stock was sold at an average price of $239.57, for a total value of $11,978,500.00. Following the sale, the director now directly owns 157,197 shares of the company’s stock, valued at approximately $37,659,685.29. The trade was a 24.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Julie Neitzel sold 700 shares of the business’s stock in a transaction dated Thursday, April 24th. The stock was sold at an average price of $246.23, for a total value of $172,361.00. Following the completion of the sale, the director now owns 418 shares in the company, valued at $102,924.14. This represents a 62.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. 9.55% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On HEICO

An institutional investor recently raised its position in HEICO stock. Acadian Asset Management LLC raised its holdings in shares of HEICO Co. (NYSE:HEI) by 216.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,381 shares of the aerospace company’s stock after purchasing an additional 945 shares during the quarter. Acadian Asset Management LLC’s holdings in HEICO were worth $368,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 27.12% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on HEI. William Blair reaffirmed an “outperform” rating on shares of HEICO in a report on Tuesday, March 25th. Wells Fargo & Company assumed coverage on shares of HEICO in a report on Tuesday, April 15th. They set an “equal weight” rating and a $244.00 target price for the company. Finally, Truist Financial dropped their price target on shares of HEICO from $294.00 to $277.00 and set a “buy” rating on the stock in a research note on Thursday, April 17th. Five equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $267.36.

HEICO Company Profile

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.