Heico (NYSE:HEI) Downgraded by Wall Street Zen to Hold

Wall Street Zen lowered shares of Heico (NYSE:HEI) from a buy rating to a hold rating in a report issued on Saturday morning.

Other analysts have also recently issued research reports about the company. UBS Group lifted their price objective on Heico from $346.00 to $375.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 27th. Truist Financial lifted their price target on shares of Heico from $352.00 to $366.00 and gave the stock a “buy” rating in a report on Wednesday, August 27th. Weiss Ratings reissued a “buy (b)” rating on shares of Heico in a research report on Monday, November 17th. Royal Bank Of Canada set a $350.00 target price on shares of Heico in a research report on Wednesday, August 27th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and issued a $382.00 target price (up from $337.00) on shares of Heico in a research note on Wednesday, August 27th. Ten analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $343.62.

Heico Trading Up 0.0%

Shares of Heico stock opened at $303.23 on Friday. The company has a debt-to-equity ratio of 0.58, a current ratio of 3.35 and a quick ratio of 1.51. Heico has a 1 year low of $216.68 and a 1 year high of $338.92. The company has a market capitalization of $42.21 billion, a P/E ratio of 66.35, a P/E/G ratio of 3.64 and a beta of 1.08. The business has a 50 day moving average price of $316.25 and a 200 day moving average price of $310.76.

Heico (NYSE:HEI) last released its quarterly earnings results on Monday, August 25th. The aerospace company reported $1.26 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.14. Heico had a return on equity of 16.29% and a net margin of 14.96%.The company had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.11 billion. During the same quarter last year, the business posted $0.97 earnings per share. Heico’s revenue was up 15.7% compared to the same quarter last year. Sell-side analysts anticipate that Heico will post 4.2 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Mark H. Hildebrandt acquired 676 shares of Heico stock in a transaction dated Friday, October 10th. The shares were acquired at an average cost of $243.93 per share, with a total value of $164,896.68. Following the purchase, the director directly owned 49,423 shares of the company’s stock, valued at approximately $12,055,752.39. This trade represents a 1.39% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Carol F. Fine bought 672 shares of the company’s stock in a transaction that occurred on Friday, October 10th. The shares were acquired at an average cost of $243.93 per share, with a total value of $163,920.96. Following the transaction, the director owned 672 shares in the company, valued at approximately $163,920.96. This represents a ∞ increase in their position. The SEC filing for this purchase provides additional information. Over the last quarter, insiders bought 4,448 shares of company stock worth $1,086,933. Corporate insiders own 9.55% of the company’s stock.

Hedge Funds Weigh In On Heico

A number of hedge funds have recently made changes to their positions in the business. Congress Asset Management Co. boosted its position in Heico by 366.0% during the 2nd quarter. Congress Asset Management Co. now owns 308,457 shares of the aerospace company’s stock worth $101,174,000 after purchasing an additional 242,264 shares during the period. American Century Companies Inc. lifted its stake in shares of Heico by 45.7% during the third quarter. American Century Companies Inc. now owns 769,704 shares of the aerospace company’s stock worth $248,476,000 after purchasing an additional 241,559 shares in the last quarter. Munro Partners purchased a new stake in shares of Heico in the second quarter worth about $59,720,000. Mackenzie Financial Corp acquired a new stake in shares of Heico in the first quarter valued at about $40,949,000. Finally, Balyasny Asset Management L.P. raised its holdings in shares of Heico by 263.2% during the 3rd quarter. Balyasny Asset Management L.P. now owns 60,469 shares of the aerospace company’s stock valued at $19,521,000 after buying an additional 43,821 shares during the period. Hedge funds and other 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.