Heico (NYSE:HEI) Shares Gap Down – Here’s Why

Heico Corporation (NYSE:HEI)’s share price gapped down before the market opened on Thursday . The stock had previously closed at $344.72, but opened at $312.67. Heico shares last traded at $300.4790, with a volume of 429,950 shares.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on HEI shares. UBS Group reaffirmed a “neutral” rating and set a $371.00 price target (up from $359.00) on shares of Heico in a research report on Monday, December 22nd. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $375.00 target price (up from $355.00) on shares of Heico in a research note on Monday, December 22nd. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $375.00 target price (up from $350.00) on shares of Heico in a report on Monday, December 22nd. Susquehanna began coverage on Heico in a report on Friday, January 23rd. They issued a “neutral” rating and a $385.00 price target for the company. Finally, Stifel Nicolaus set a $370.00 price objective on Heico and gave the stock a “buy” rating in a research report on Monday, December 22nd. Eleven equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $364.43.

Heico Stock Up 1.9%

The company has a quick ratio of 1.28, a current ratio of 2.83 and a debt-to-equity ratio of 0.49. The business has a 50-day simple moving average of $337.43 and a 200-day simple moving average of $322.79. The company has a market cap of $44.46 billion, a PE ratio of 63.05, a P/E/G ratio of 3.45 and a beta of 1.01.

Heico (NYSE:HEI) last posted its quarterly earnings data on Wednesday, February 25th. The aerospace company reported $1.35 EPS for the quarter, beating analysts’ consensus estimates of $1.26 by $0.09. The business had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.17 billion. Heico had a return on equity of 16.93% and a net margin of 15.38%.The business’s revenue was up 14.4% compared to the same quarter last year. During the same period in the previous year, the business earned $1.20 earnings per share. Equities research analysts anticipate that Heico Corporation will post 4.2 EPS for the current year.

Heico Announces Dividend

The business also recently disclosed a dividend, which was paid on Tuesday, January 20th. Shareholders of record on Monday, January 5th were given a dividend of $0.12 per share. The ex-dividend date was Monday, January 5th. This represents a yield of 7.0%. Heico’s dividend payout ratio is currently 4.74%.

Institutional Trading of Heico

Several institutional investors have recently modified their holdings of the stock. IFC & Insurance Marketing Inc. acquired a new position in shares of Heico during the 4th quarter worth about $26,000. Westside Investment Management Inc. increased its stake in Heico by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 86 shares of the aerospace company’s stock worth $28,000 after buying an additional 43 shares in the last quarter. CBIZ Investment Advisory Services LLC increased its stake in Heico by 1,000.0% during the 4th quarter. CBIZ Investment Advisory Services LLC now owns 88 shares of the aerospace company’s stock worth $28,000 after buying an additional 80 shares in the last quarter. Greykasell Wealth Strategies Inc. acquired a new position in shares of Heico during the third quarter valued at approximately $29,000. Finally, Hazlett Burt & Watson Inc. purchased a new position in shares of Heico in the third quarter valued at approximately $31,000. Institutional investors and hedge funds own 27.12% of the company’s stock.

About Heico

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.