Heico (NYSE:HEI) Rating Reiterated by Independent Research

Heico (NYSE:HEI)‘s stock had its “neutral” rating reiterated by Independent Research in a note issued to investors on Friday, Stock Target Advisor reports. They presently have a $73.00 price objective on the aerospace company’s stock. Independent Research’s price target indicates a potential downside of 40.01% from the stock’s previous close.

A number of other research analysts have also recently issued reports on HEI. Barclays restated a “neutral” rating and set a $72.00 price objective on shares of Heico in a report on Thursday, October 17th. Bank of America cut shares of Heico from a “buy” rating to an “underperform” rating and set a $105.00 price objective for the company. in a report on Thursday, July 11th. They noted that the move was a valuation call. SunTrust Banks boosted their price objective on shares of Heico from $128.00 to $160.00 and gave the company a “buy” rating in a report on Thursday, August 29th. Canaccord Genuity boosted their price objective on shares of Heico from $130.00 to $160.00 and gave the company a “buy” rating in a report on Thursday, August 29th. Finally, Credit Suisse Group boosted their price objective on shares of Heico from $133.00 to $163.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, five have given a hold rating and nine have assigned a buy rating to the company’s stock. Heico has an average rating of “Buy” and an average target price of $110.08.

NYSE HEI traded up $0.26 during trading on Friday, reaching $121.69. 333,991 shares of the stock traded hands, compared to its average volume of 469,676. The firm has a market cap of $16.38 billion, a price-to-earnings ratio of 67.23, a price-to-earnings-growth ratio of 3.44 and a beta of 0.57. The stock’s 50-day moving average price is $122.85 and its 200 day moving average price is $126.18. The company has a quick ratio of 1.44, a current ratio of 2.98 and a debt-to-equity ratio of 0.39. Heico has a fifty-two week low of $71.47 and a fifty-two week high of $147.93.

Heico (NYSE:HEI) last issued its quarterly earnings data on Tuesday, August 27th. The aerospace company reported $0.59 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.53 by $0.06. The firm had revenue of $532.32 million during the quarter, compared to analysts’ expectations of $510.67 million. Heico had a net margin of 15.55% and a return on equity of 18.58%. The business’s revenue for the quarter was up 14.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.49 earnings per share. Analysts anticipate that Heico will post 2.31 EPS for the current fiscal year.

In related news, Director Frank J. Schwitter purchased 1,210 shares of Heico stock in a transaction dated Monday, October 28th. The stock was bought at an average price of $94.82 per share, for a total transaction of $114,732.20. Following the completion of the acquisition, the director now directly owns 1,313 shares of the company’s stock, valued at $124,498.66. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Eric A. Mendelson purchased 949 shares of Heico stock in a transaction dated Tuesday, October 29th. The stock was bought at an average price of $120.70 per share, with a total value of $114,544.30. Following the acquisition, the insider now directly owns 1,198,939 shares of the company’s stock, valued at $144,711,937.30. The disclosure for this purchase can be found here. 9.23% of the stock is owned by corporate insiders.

Several institutional investors have recently added to or reduced their stakes in the company. Riverbridge Partners LLC boosted its holdings in shares of Heico by 1.8% in the third quarter. Riverbridge Partners LLC now owns 983,038 shares of the aerospace company’s stock valued at $122,762,000 after buying an additional 17,386 shares during the period. EULAV Asset Management boosted its holdings in shares of Heico by 0.4% in the second quarter. EULAV Asset Management now owns 416,799 shares of the aerospace company’s stock valued at $55,772,000 after buying an additional 1,800 shares during the period. Thoroughbred Financial Services LLC boosted its holdings in Heico by 10,711.5% during the second quarter. Thoroughbred Financial Services LLC now owns 329,858 shares of the aerospace company’s stock worth $32,986,000 after purchasing an additional 326,807 shares during the last quarter. First Trust Advisors LP boosted its holdings in Heico by 49.7% during the second quarter. First Trust Advisors LP now owns 231,181 shares of the aerospace company’s stock worth $30,934,000 after purchasing an additional 76,797 shares during the last quarter. Finally, AXA acquired a new position in Heico during the second quarter worth $24,835,000. Institutional investors own 25.56% of the company’s stock.

About Heico

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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