Heico (NYSE:HEI) Given New $323.00 Price Target at Citigroup

Heico (NYSE:HEI) had its target price lowered by investment analysts at Citigroup from $400.00 to $323.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the aerospace company’s stock. Citigroup’s price objective points to a potential upside of 18.97% from the company’s previous close.

HEI has been the topic of several other reports. BNP Paribas Exane raised Heico from a “neutral” rating to an “outperform” rating in a research report on Friday, February 27th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $375.00 price objective (up from $355.00) on shares of Heico in a report on Monday, December 22nd. Wells Fargo & Company assumed coverage on shares of Heico in a research report on Wednesday. They issued an “equal weight” rating and a $290.00 target price on the stock. Truist Financial raised their price objective on shares of Heico from $366.00 to $391.00 and gave the stock a “buy” rating in a research note on Tuesday, December 23rd. Finally, Royal Bank Of Canada reissued an “outperform” rating and set a $375.00 target price (up from $350.00) on shares of Heico in a research note on Monday, December 22nd. Ten equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $358.71.

Heico Stock Down 1.4%

Shares of Heico stock traded down $3.99 during trading on Thursday, reaching $271.49. The company had a trading volume of 186,847 shares, compared to its average volume of 600,038. The company has a market cap of $37.88 billion, a price-to-earnings ratio of 53.70, a price-to-earnings-growth ratio of 3.36 and a beta of 1.01. Heico has a fifty-two week low of $229.07 and a fifty-two week high of $361.69. The firm’s fifty day moving average is $314.11 and its 200-day moving average is $319.17. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.41 and a current ratio of 3.06.

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. Heico had a net margin of 15.38% and a return on equity of 16.57%. The firm had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.17 billion. During the same quarter in the previous year, the firm earned $1.20 earnings per share. The firm’s revenue for the quarter was up 14.4% compared to the same quarter last year. On average, analysts anticipate that Heico will post 4.2 EPS for the current year.

Institutional Trading of Heico

Several institutional investors have recently made changes to their positions in HEI. IFC & Insurance Marketing Inc. acquired a new stake in Heico during the fourth quarter valued at approximately $26,000. Westside Investment Management Inc. lifted its position in shares of Heico by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 86 shares of the aerospace company’s stock worth $28,000 after buying an additional 43 shares during the period. CBIZ Investment Advisory Services LLC boosted its stake in Heico by 1,000.0% in the 4th quarter. CBIZ Investment Advisory Services LLC now owns 88 shares of the aerospace company’s stock valued at $28,000 after buying an additional 80 shares in the last quarter. Greykasell Wealth Strategies Inc. acquired a new stake in Heico in the 3rd quarter valued at $29,000. Finally, Hazlett Burt & Watson Inc. bought a new stake in Heico in the third quarter valued at $31,000. 27.12% of the stock is currently owned by institutional investors and hedge funds.

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.