HEICO (NYSE:HEI) Sets New 12-Month High – What’s Next?

HEICO Co. (NYSE:HEI) shares reached 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 traded. The stock had previously closed at $263.52.

Analyst Ratings Changes

A number of equities analysts have commented on HEI shares. Robert W. Baird lifted their price target on HEICO from $243.00 to $280.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 28th. Barclays started coverage on shares of HEICO in a research report on Monday, August 19th. They set an “equal weight” rating and a $250.00 price target for the company. Stifel Nicolaus boosted their price objective on shares of HEICO from $250.00 to $280.00 and gave the company a “buy” rating in a research report on Tuesday, August 27th. Bank of America increased their target price on shares of HEICO from $250.00 to $285.00 and gave the stock a “buy” rating in a report on Thursday, September 19th. Finally, Morgan Stanley boosted their price target on HEICO from $245.00 to $265.00 and gave the company an “equal weight” rating in a report on Friday, October 18th. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $270.70.

HEICO Price Performance

The stock has a market cap of $38.40 billion, a P/E ratio of 81.24, a price-to-earnings-growth ratio of 3.32 and a beta of 1.23. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.47 and a current ratio of 3.30. The firm has a 50-day moving average price of $259.22 and a 200-day moving average price of $238.57.

HEICO (NYSE:HEI) last announced its quarterly earnings data on Monday, August 26th. The aerospace company reported $0.97 EPS for the quarter, beating the consensus estimate of $0.92 by $0.05. The business had revenue of $992.20 million during the quarter, compared to analyst estimates of $995.34 million. HEICO had a return on equity of 14.51% and a net margin of 12.64%. The company’s revenue for the quarter was up 37.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.77 earnings per share. On average, analysts forecast that HEICO Co. will post 3.65 earnings per share for the current fiscal year.

Insider Buying and Selling at HEICO

In other news, insider Victor H. Mendelson acquired 726 shares of the business’s stock in a transaction that occurred on Friday, October 18th. The shares were bought at an average cost of $262.94 per share, with a total value of $190,894.44. Following the transaction, the insider now owns 1,234,950 shares of the company’s stock, valued at $324,717,753. This trade represents a 0.06 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Alan Schriesheim sold 332 shares of HEICO 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 disclosure for this sale can be found here. Over the last quarter, insiders acquired 2,650 shares of company stock valued at $691,718. Corporate insiders own 8.10% of the company’s stock.

Institutional Investors Weigh In On HEICO

Several institutional investors and hedge funds have recently made changes to their positions in the company. Quadrature Capital Ltd purchased a new stake in HEICO during the 1st quarter valued at $2,796,000. Driehaus Capital Management LLC increased its holdings in HEICO by 66.0% in the 2nd quarter. Driehaus Capital Management LLC now owns 193,895 shares of the aerospace company’s stock worth $43,357,000 after buying an additional 77,067 shares in the last quarter. AdvisorShares Investments LLC lifted its stake in HEICO by 7.4% during the 2nd quarter. AdvisorShares Investments LLC now owns 32,593 shares of the aerospace company’s stock valued at $7,190,000 after acquiring an additional 2,244 shares during the period. Virtu Financial LLC boosted its holdings in shares of HEICO by 148.8% during the 1st quarter. Virtu Financial LLC now owns 5,449 shares of the aerospace company’s stock valued at $1,041,000 after acquiring an additional 3,259 shares during the last quarter. Finally, Bright Rock Capital Management LLC bought a new stake in shares of HEICO in the third quarter worth approximately $1,830,000. Institutional investors own 27.12% of the company’s stock.

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.