Royal Bank Of Canada Increases Heico (NYSE:HEI) Price Target to $390.00

Heico (NYSE:HEI) had its target price boosted by equities research analysts at Royal Bank Of Canada from $375.00 to $390.00 in a report issued on Friday,Benzinga reports. The brokerage currently has an “outperform” rating on the aerospace company’s stock. Royal Bank Of Canada’s price objective indicates a potential upside of 11.83% from the stock’s current price.

Other research analysts also recently issued research reports about the stock. Citigroup dropped their target price on shares of Heico from $400.00 to $323.00 and set a “buy” rating for the company in a report on Thursday, April 2nd. Susquehanna increased their price objective on shares of Heico from $321.00 to $365.00 and gave the company a “neutral” rating in a report on Friday. Rothschild & Co Redburn set a $360.00 price objective on shares of Heico and gave the company a “buy” rating in a report on Wednesday, May 13th. Wall Street Zen cut shares of Heico from a “buy” rating to a “hold” rating in a research report on Sunday, March 8th. Finally, Jefferies Financial Group restated a “buy” rating and set a $410.00 target price (up from $375.00) on shares of Heico in a research report on Thursday. Two research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $361.69.

Heico Price Performance

Heico stock traded up $3.67 during mid-day trading on Friday, hitting $348.74. The stock had a trading volume of 245,742 shares, compared to its average volume of 654,613. The firm has a market capitalization of $48.66 billion, a P/E ratio of 62.31, a P/E/G ratio of 3.79 and a beta of 0.95. The company has a current ratio of 3.06, a quick ratio of 1.41 and a debt-to-equity ratio of 0.55. The firm’s 50 day moving average is $285.42 and its 200 day moving average is $311.35. Heico has a one year low of $256.11 and a one year high of $361.69.

Heico (NYSE:HEI) last issued its earnings results on Wednesday, May 27th. The aerospace company reported $1.66 earnings per share for the quarter, topping the consensus estimate of $1.33 by $0.33. The company had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.25 billion. Heico had a net margin of 16.08% and a return on equity of 17.98%. Heico’s quarterly revenue was up 25.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.12 EPS. On average, sell-side analysts forecast that Heico will post 5.56 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Julie Neitzel sold 676 shares of the stock in a transaction dated Wednesday, April 15th. The shares were sold at an average price of $223.00, for a total value of $150,748.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 4.86% of the stock is owned by company insiders.

Institutional Trading of Heico

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HEI. IFC & Insurance Marketing Inc. purchased a new stake in Heico in the 4th quarter worth about $26,000. Westside Investment Management Inc. raised its position in Heico by 100.0% in the 3rd quarter. Westside Investment Management Inc. now owns 86 shares of the aerospace company’s stock worth $28,000 after purchasing an additional 43 shares during the period. CBIZ Investment Advisory Services LLC raised its position in Heico by 1,000.0% in the 4th quarter. CBIZ Investment Advisory Services LLC now owns 88 shares of the aerospace company’s stock worth $28,000 after purchasing an additional 80 shares during the period. Greykasell Wealth Strategies Inc. purchased a new stake in Heico in the 3rd quarter worth about $29,000. Finally, Hazlett Burt & Watson Inc. purchased a new stake in Heico in the 3rd quarter worth about $31,000. 27.12% of the stock is owned by hedge funds and other institutional investors.

Heico Company Profile

HEICO Corporation is an aerospace, defense and electronics company that designs, manufactures, and sells a range of products and provides repair and aftermarket services. Headquartered in Hollywood, Florida, HEICO supplies replacement components, repair services and engineered systems for commercial and business aviation, military and space markets as well as for selected industrial and medical customers. The company’s offerings are focused on sustaining and improving the reliability and availability of complex equipment across its end markets.

HEICO operates through two principal business areas.