HEICO (NYSE:HEI) Reaches New 1-Year High – Here’s Why

HEICO Co. (NYSE:HEIGet Free Report)’s share price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $270.95 and last traded at $270.23, with a volume of 157201 shares trading hands. The stock had previously closed at $263.52.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on HEI. Morgan Stanley boosted their price target on shares of HEICO from $245.00 to $265.00 and gave the stock an “equal weight” rating in a report on Friday, October 18th. Benchmark reiterated a “buy” rating and issued a $245.00 target price on shares of HEICO in a research note on Tuesday, August 27th. Bank of America raised their price target on shares of HEICO from $250.00 to $285.00 and gave the stock a “buy” rating in a research note on Thursday, September 19th. Barclays started coverage on HEICO in a report on Monday, August 19th. They set an “equal weight” rating and a $250.00 price objective for the company. Finally, Royal Bank of Canada boosted their target price on HEICO from $250.00 to $272.00 and gave the company an “outperform” rating in a research note on Wednesday, August 28th. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $270.70.

Read Our Latest Stock Report on HEICO

HEICO Price Performance

The business has a fifty day moving average of $259.22 and a 200-day moving average of $238.57. The company has a current ratio of 3.30, a quick ratio of 1.47 and a debt-to-equity ratio of 0.63. The firm has a market cap of $38.40 billion, a PE ratio of 81.24, a PEG ratio of 3.32 and a beta of 1.23.

HEICO (NYSE:HEIGet Free Report) last posted its earnings results on Monday, August 26th. The aerospace company reported $0.97 earnings per share for the quarter, topping analysts’ consensus estimates of $0.92 by $0.05. The business had revenue of $992.20 million for the quarter, compared to analyst estimates of $995.34 million. HEICO had a net margin of 12.64% and a return on equity of 14.51%. HEICO’s revenue was up 37.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.77 EPS. As a group, research analysts predict that HEICO Co. will post 3.65 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Alan Schriesheim sold 332 shares of the business’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $201.63, for a total transaction of $66,941.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Victor H. Mendelson bought 726 shares of the stock in a transaction that occurred on Friday, October 18th. The stock was bought at an average cost of $262.94 per share, for a total transaction of $190,894.44. Following the completion of the purchase, the insider now directly owns 1,234,950 shares of the company’s stock, valued at $324,717,753. This represents a 0.06 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired 2,650 shares of company stock worth $691,718 in the last ninety days. 8.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in HEI. AGF Management Ltd. raised its holdings in shares of HEICO by 61.7% during the 2nd quarter. AGF Management Ltd. now owns 949,945 shares of the aerospace company’s stock valued at $212,417,000 after buying an additional 362,625 shares in the last quarter. EULAV Asset Management raised its stake in shares of HEICO by 5.0% during the third quarter. EULAV Asset Management now owns 402,193 shares of the aerospace company’s stock worth $105,165,000 after acquiring an additional 19,200 shares in the last quarter. TCW Group Inc. boosted its stake in shares of HEICO by 3.0% in the 2nd quarter. TCW Group Inc. now owns 200,008 shares of the aerospace company’s stock valued at $44,724,000 after purchasing an additional 5,779 shares in the last quarter. Driehaus Capital Management LLC grew its holdings in shares of HEICO by 66.0% during the 2nd quarter. Driehaus Capital Management LLC now owns 193,895 shares of the aerospace company’s stock valued at $43,357,000 after purchasing an additional 77,067 shares during the last quarter. Finally, Vantage Investment Partners LLC raised its position in HEICO by 1.4% in the 3rd quarter. Vantage Investment Partners LLC now owns 122,430 shares of the aerospace company’s stock worth $32,013,000 after purchasing an additional 1,717 shares during the period. 27.12% of the stock is currently owned by hedge funds and other institutional investors.

HEICO Company Profile

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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.

Further Reading

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