Heico (NYSE:HEI) Upgraded to Strong-Buy at Zacks Research

Zacks Research upgraded shares of Heico (NYSE:HEI) from a hold rating to a strong-buy rating in a research note released on Tuesday morning,Zacks.com reports.

Several other equities research analysts also recently weighed in on HEI. Wall Street Zen raised Heico from a “hold” rating to a “buy” rating in a report on Saturday, June 6th. Susquehanna raised their price target on Heico from $321.00 to $365.00 and gave the stock a “neutral” rating in a report on Friday, May 29th. Jefferies Financial Group reissued a “buy” rating and issued a $410.00 price target (up from $375.00) on shares of Heico in a report on Thursday, May 28th. Truist Financial raised Heico to a “strong-buy” rating in a report on Friday, May 1st. Finally, Weiss Ratings cut Heico from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, April 22nd. Three research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Heico currently has a consensus rating of “Moderate Buy” and an average target price of $371.63.

Heico Price Performance

Shares of HEI stock opened at $320.72 on Tuesday. Heico has a 1-year low of $256.11 and a 1-year high of $361.69. The stock’s 50-day moving average is $295.19 and its 200 day moving average is $312.26. The company has a market cap of $44.79 billion, a P/E ratio of 57.27, a PEG ratio of 3.48 and a beta of 1.03. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.92 and a quick ratio of 1.36.

Heico (NYSE:HEI) last issued its quarterly earnings data on Wednesday, May 27th. The aerospace company reported $1.66 earnings per share for the quarter, beating analysts’ consensus estimates of $1.33 by $0.33. The company had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.25 billion. Heico had a return on equity of 17.52% and a net margin of 16.08%.The firm’s revenue for the quarter was up 25.3% compared to the same quarter last year. During the same quarter last year, the company earned $1.12 earnings per share. Research analysts predict that Heico will post 5.78 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Julie Neitzel sold 676 shares of the business’s stock in a transaction on Wednesday, April 15th. The stock was sold at an average price of $223.00, for a total value of $150,748.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 4.86% of the company’s stock.

Institutional Investors Weigh In On Heico

Several large investors have recently bought and sold shares of the stock. Groupama Asset Managment increased its holdings in Heico by 31.3% during the 1st quarter. Groupama Asset Managment now owns 23,407 shares of the aerospace company’s stock worth $6,418,000 after purchasing an additional 5,579 shares during the period. BankChampaign National Association purchased a new position in shares of Heico in the 1st quarter valued at about $731,000. Themes Management Co LLC increased its holdings in shares of Heico by 69.7% in the 1st quarter. Themes Management Co LLC now owns 2,007 shares of the aerospace company’s stock valued at $550,000 after acquiring an additional 824 shares during the last quarter. Bradley Foster & Sargent Inc. CT increased its holdings in shares of Heico by 35.1% in the 1st quarter. Bradley Foster & Sargent Inc. CT now owns 1,554 shares of the aerospace company’s stock valued at $426,000 after acquiring an additional 404 shares during the last quarter. Finally, Lombard Odier Asset Management USA Corp increased its holdings in shares of Heico by 32.0% in the 1st quarter. Lombard Odier Asset Management USA Corp now owns 3,559 shares of the aerospace company’s stock valued at $976,000 after acquiring an additional 863 shares during the last quarter. Hedge funds and other institutional investors 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.