HEICO (NYSE:HEI) Announces Quarterly Earnings Results

HEICO (NYSE:HEI) issued its quarterly earnings data on Tuesday. The aerospace company reported $0.99 earnings per share for the quarter, topping the consensus estimate of $0.97 by $0.02, Zacks reports. The firm had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $1.03 billion. HEICO had a net margin of 12.64% and a return on equity of 14.51%. The business’s quarterly revenue was up 8.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.74 EPS.

HEICO Price Performance

Shares of HEICO stock traded down $3.00 during trading hours on Tuesday, reaching $259.80. The stock had a trading volume of 881,213 shares, compared to its average volume of 389,620. The company has a current ratio of 3.30, a quick ratio of 1.47 and a debt-to-equity ratio of 0.63. HEICO has a twelve month low of $169.70 and a twelve month high of $283.60. The stock’s 50 day moving average is $262.66 and its 200 day moving average is $247.55. The firm has a market capitalization of $36.01 billion, a PE ratio of 76.19, a PEG ratio of 3.14 and a beta of 1.24.

Insider Buying and Selling

In other HEICO news, Director Alan Schriesheim acquired 724 shares of the company’s stock in a transaction that occurred on Friday, October 18th. The stock was bought at an average price of $262.94 per share, with a total value of $190,368.56. Following the purchase, the director now owns 174,878 shares in the company, valued at approximately $45,982,421.32. The trade was a 0.42 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Victor H. Mendelson bought 726 shares of the stock in a transaction dated Friday, October 18th. The shares were bought at an average price of $262.94 per share, for a total transaction of $190,894.44. Following the completion of the acquisition, the insider now owns 1,234,950 shares in the company, valued at approximately $324,717,753. The trade was a 0.06 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 2,175 shares of company stock valued at $571,895. 8.10% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms recently commented on HEI. Benchmark reissued a “buy” rating and issued a $245.00 price target on shares of HEICO in a report on Tuesday, August 27th. Royal Bank of Canada boosted their target price on HEICO from $250.00 to $272.00 and gave the company an “outperform” rating in a research report on Wednesday, August 28th. Robert W. Baird raised their price target on HEICO from $243.00 to $280.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 28th. Morgan Stanley lifted their price objective on shares of HEICO from $245.00 to $265.00 and gave the company an “equal weight” rating in a report on Friday, October 18th. Finally, Barclays started coverage on HEICO in a report on Monday, August 19th. They set an “equal weight” rating and a $250.00 price objective on the stock. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $270.70.

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.