HEICO (NYSE:HEI) Price Target Raised to $280.00 at Barclays

HEICO (NYSE:HEI) had its price target increased by equities research analysts at Barclays from $250.00 to $280.00 in a report issued on Monday,Benzinga reports. The brokerage presently has an “equal weight” rating on the aerospace company’s stock. Barclays‘s price target points to a potential downside of 7.19% from the stock’s previous close.

Several other brokerages also recently commented on HEI. William Blair reissued an “outperform” rating on shares of HEICO in a report on Tuesday, March 25th. Wells Fargo & Company boosted their target price on HEICO from $244.00 to $278.00 and gave the stock an “equal weight” rating in a report on Friday. UBS Group boosted their target price on HEICO from $264.00 to $306.00 and gave the stock a “neutral” rating in a report on Thursday. Finally, Truist Financial reduced their target price on HEICO from $294.00 to $277.00 and set a “buy” rating on the stock in a report on Thursday, April 17th. Five research 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, HEICO currently has a consensus rating of “Moderate Buy” and a consensus price target of $275.82.

HEICO Price Performance

NYSE HEI traded up $2.05 on Monday, reaching $301.69. 70,024 shares of the stock traded hands, compared to its average volume of 557,793. The firm’s fifty day simple moving average is $260.79 and its 200 day simple moving average is $252.11. The company has a quick ratio of 1.34, a current ratio of 3.11 and a debt-to-equity ratio of 0.60. The company has a market cap of $41.92 billion, a price-to-earnings ratio of 82.43, a P/E/G ratio of 3.10 and a beta of 1.05. HEICO has a 12 month low of $216.68 and a 12 month high of $303.32.

HEICO (NYSE:HEI) last announced its quarterly earnings data on Tuesday, May 27th. The aerospace company reported $1.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.03 by $0.09. HEICO had a return on equity of 14.63% and a net margin of 13.33%. The business had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.06 billion. During the same period last year, the company earned $0.88 earnings per share. HEICO’s quarterly revenue was up 14.9% compared to the same quarter last year. As a group, research analysts predict that HEICO will post 4.2 EPS for the current fiscal year.

Insider Transactions at HEICO

In other news, Director Julie Neitzel sold 700 shares of the stock in a transaction dated Thursday, April 24th. The shares were sold at an average price of $246.23, for a total transaction of $172,361.00. Following the completion of the transaction, the director now directly owns 418 shares in the company, valued at $102,924.14. This represents a 62.61% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Alan Schriesheim sold 50,000 shares of the firm’s stock in a transaction dated Tuesday, April 22nd. The shares were sold at an average price of $239.57, for a total transaction of $11,978,500.00. Following the completion of the sale, the director now owns 157,197 shares of the company’s stock, valued at $37,659,685.29. This trade represents a 24.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 9.55% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in HEI. Fortress Financial Solutions LLC acquired a new position in shares of HEICO during the fourth quarter worth $263,000. EntryPoint Capital LLC bought a new stake in HEICO in the 4th quarter worth about $220,000. Fisher Asset Management LLC grew its position in HEICO by 19.1% in the 4th quarter. Fisher Asset Management LLC now owns 415,542 shares of the aerospace company’s stock worth $98,791,000 after purchasing an additional 66,583 shares in the last quarter. E Fund Management Co. Ltd. bought a new stake in HEICO in the 4th quarter worth about $428,000. Finally, EULAV Asset Management grew its position in HEICO by 12.8% in the 4th quarter. EULAV Asset Management now owns 453,693 shares of the aerospace company’s stock worth $107,861,000 after purchasing an additional 51,500 shares in the last quarter. 27.12% of the stock is owned by institutional investors.

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. 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.