Bank of America Increases HEICO (NYSE:HEI) Price Target to $285.00

HEICO (NYSE:HEI) had its price objective boosted by Bank of America from $250.00 to $285.00 in a report released on Thursday, Benzinga reports. The firm presently has a “buy” rating on the aerospace company’s stock. Bank of America‘s price objective indicates a potential upside of 7.20% from the company’s previous close.

A number of other research analysts have also recently commented on HEI. Truist Financial raised their price target on HEICO from $248.00 to $264.00 and gave the stock a “buy” rating in a research report on Wednesday, August 28th. Deutsche Bank Aktiengesellschaft raised their price target on HEICO from $235.00 to $271.00 and gave the stock a “buy” rating in a research report on Wednesday, September 4th. Royal Bank of Canada raised their price target on HEICO from $250.00 to $272.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 28th. Morgan Stanley upgraded HEICO from an “underweight” rating to an “equal weight” rating and raised their price target for the stock from $178.00 to $225.00 in a research report on Tuesday, June 4th. Finally, Barclays initiated coverage on HEICO in a research report on Monday, August 19th. They issued an “equal weight” rating and a $250.00 price target on the stock. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $263.56.

HEICO Stock Up 0.5 %

HEI opened at $265.86 on Thursday. HEICO has a fifty-two week low of $155.42 and a fifty-two week high of $265.98. 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 company has a market capitalization of $36.82 billion, a P/E ratio of 83.19, a P/E/G ratio of 3.61 and a beta of 1.22. The stock has a fifty day moving average of $241.78 and a 200-day moving average of $219.85.

HEICO (NYSE:HEI) 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. HEICO had a return on equity of 14.51% and a net margin of 12.64%. The company had revenue of $992.20 million during the quarter, compared to the consensus estimate of $995.34 million. During the same quarter last year, the firm earned $0.77 earnings per share. The company’s revenue was up 37.3% on a year-over-year basis. On average, equities analysts expect that HEICO will post 3.63 EPS for the current year.

Insider Transactions at HEICO

In other news, Director Frank J. Schwitter purchased 475 shares of HEICO stock in a transaction dated Tuesday, September 3rd. The shares were bought at an average cost of $252.26 per share, for a total transaction of $119,823.50. Following the completion of the acquisition, the director now owns 1,730 shares in the company, valued at approximately $436,409.80. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. In other news, insider Eric A. Mendelson sold 2,832 shares of the business’s stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $180.06, for a total transaction of $509,929.92. Following the sale, the insider now directly owns 246,060 shares in the company, valued at $44,305,563.60. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Frank J. Schwitter acquired 475 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was bought at an average cost of $252.26 per share, for a total transaction of $119,823.50. Following the completion of the purchase, the director now owns 1,730 shares of the company’s stock, valued at $436,409.80. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 85,206 shares of company stock worth $15,571,927. Insiders own 8.10% of the company’s stock.

Hedge Funds Weigh In On HEICO

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. HWG Holdings LP acquired a new position in shares of HEICO in the second quarter worth approximately $3,283,000. Driehaus Capital Management LLC lifted its stake in shares of HEICO by 66.0% in the second quarter. Driehaus Capital Management LLC now owns 193,895 shares of the aerospace company’s stock worth $43,357,000 after acquiring an additional 77,067 shares during the period. Security National Bank of SO Dak acquired a new position in shares of HEICO in the second quarter worth approximately $206,000. Scientech Research LLC acquired a new position in shares of HEICO in the second quarter worth approximately $534,000. Finally, AXA S.A. lifted its stake in shares of HEICO by 11.0% in the second quarter. AXA S.A. now owns 101,980 shares of the aerospace company’s stock worth $22,804,000 after acquiring an additional 10,143 shares during the period. 27.12% of the stock is owned by institutional investors and hedge funds.

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.