Heico (HEI) Rating Increased to Buy at Zacks Investment Research

Heico (NYSE:HEI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Friday, Zacks.com reports. The firm currently has a $116.00 price target on the aerospace company’s stock. Zacks Investment Research‘s target price suggests a potential upside of 11.54% from the stock’s previous close.

According to Zacks, “HEICO Corp.'s share price outperformed its broader market in the past 12 months. Increased demand for new products ranging from aftermarket replacement parts to repair and overhaul parts along with services product lines have been fueling organic growth. Its operational performance also exhibits solid inorganic growth history, thanks to the disciplined acquisition strategy followed by the company. A strong balance sheet and cash flow generation capacity also provides the company financial flexibility. However, the company  competes in a fragmented marketplace with the industry’s leading jet engine and aircraft component OEMs. The company also competes with some of the well capitalized peer companies.”

Several other brokerages also recently weighed in on HEI. Robert W. Baird upgraded Heico from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $95.00 to $125.00 in a report on Thursday. Canaccord Genuity restated a “buy” rating and set a $110.00 price target (up previously from $105.00) on shares of Heico in a report on Monday. UBS Group upped their price target on Heico from $85.00 to $112.00 and gave the stock a “neutral” rating in a report on Tuesday, April 30th. Cowen assumed coverage on Heico in a report on Tuesday, March 5th. They set a “market perform” rating and a $95.00 price target on the stock. Finally, SunTrust Banks restated a “buy” rating and set a $100.00 price target on shares of Heico in a report on Wednesday, February 27th. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $106.13.

Shares of HEI stock traded up $0.36 on Friday, hitting $104.00. The stock had a trading volume of 5,475 shares, compared to its average volume of 367,990. The company has a current ratio of 3.48, a quick ratio of 1.66 and a debt-to-equity ratio of 0.38. The company has a market capitalization of $13.94 billion, a PE ratio of 57.48, a P/E/G ratio of 4.01 and a beta of 0.85. Heico has a 1 year low of $70.40 and a 1 year high of $107.45.

Heico (NYSE:HEI) last posted its quarterly earnings data on Tuesday, February 26th. The aerospace company reported $0.49 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.46 by $0.03. The firm had revenue of $466.15 million for the quarter, compared to the consensus estimate of $453.65 million. Heico had a return on equity of 17.72% and a net margin of 14.86%. Research analysts predict that Heico will post 2.14 EPS for the current fiscal year.

In other news, Director Alan Schriesheim sold 15,000 shares of the company’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $79.88, for a total transaction of $1,198,200.00. Following the completion of the transaction, the director now directly owns 9,700 shares of the company’s stock, valued at approximately $774,836. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Frank J. Schwitter sold 1,756 shares of the company’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $78.07, for a total value of $137,090.92. Following the transaction, the director now directly owns 1,313 shares of the company’s stock, valued at $102,505.91. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 24,756 shares of company stock valued at $2,022,171. Insiders own 9.23% of the company’s stock.

Several large investors have recently added to or reduced their stakes in HEI. Fisher Asset Management LLC boosted its position in shares of Heico by 0.4% during the 4th quarter. Fisher Asset Management LLC now owns 1,596,380 shares of the aerospace company’s stock worth $123,688,000 after acquiring an additional 6,501 shares in the last quarter. Concorde Asset Management LLC boosted its position in shares of Heico by 25.5% during the 4th quarter. Concorde Asset Management LLC now owns 10,215 shares of the aerospace company’s stock worth $791,000 after acquiring an additional 2,077 shares in the last quarter. Congress Asset Management Co. MA boosted its position in shares of Heico by 1.3% in the 4th quarter. Congress Asset Management Co. MA now owns 93,754 shares of the aerospace company’s stock valued at $7,264,000 after purchasing an additional 1,177 shares during the period. Professional Planning boosted its position in shares of Heico by 60.8% in the 4th quarter. Professional Planning now owns 27,628 shares of the aerospace company’s stock valued at $2,005,000 after purchasing an additional 10,447 shares during the period. Finally, Quantamental Technologies LLC acquired a new stake in shares of Heico in the 4th quarter valued at about $194,000. 25.30% 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. The company's Flight Support Group segment provides jet engine and aircraft component replacement parts; thermal insulation blankets and parts; renewable/reusable insulation systems; and specialty components.

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