Heico (NYSE:HEI) Rating Increased to Hold at Wells Fargo & Company

Wells Fargo & Company upgraded shares of Heico (NYSE:HEI) to a hold rating in a report released on Tuesday,Zacks.com reports.

Several other equities analysts have also weighed in on HEI. BNP Paribas Exane upgraded shares of Heico from a “neutral” rating to an “outperform” rating in a report on Friday, February 27th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $375.00 price target (up from $355.00) on shares of Heico in a report on Monday, December 22nd. Wall Street Zen lowered shares of Heico from a “buy” rating to a “hold” rating in a research report on Sunday, March 8th. Citigroup reiterated a “buy” rating and issued a $415.00 price objective (up from $367.00) on shares of Heico in a research report on Tuesday, January 13th. Finally, Truist Financial raised their target price on Heico from $366.00 to $391.00 and gave the stock a “buy” rating in a research note on Tuesday, December 23rd. Ten investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat, Heico currently has an average rating of “Moderate Buy” and a consensus price target of $365.29.

Heico Stock Up 0.6%

Shares of NYSE:HEI opened at $275.74 on Tuesday. Heico has a 52-week low of $229.07 and a 52-week high of $361.69. The stock has a market cap of $38.47 billion, a P/E ratio of 54.49, a PEG ratio of 3.36 and a beta of 1.01. The business has a fifty day moving average of $314.11 and a two-hundred day moving average of $319.17. The company has a quick ratio of 1.41, a current ratio of 3.06 and a debt-to-equity ratio of 0.55.

Heico (NYSE:HEI) last posted its quarterly earnings results on Wednesday, February 25th. The aerospace company reported $1.35 EPS for the quarter, topping the consensus estimate of $1.26 by $0.09. Heico had a return on equity of 16.57% and a net margin of 15.38%.The business had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.17 billion. During the same quarter in the previous year, the firm earned $1.20 EPS. The company’s quarterly revenue was up 14.4% compared to the same quarter last year. On average, research analysts expect that Heico will post 4.2 earnings per share for the current year.

Institutional Investors Weigh In On Heico

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. IFC & Insurance Marketing Inc. purchased a new position in shares of Heico during the 4th quarter worth approximately $26,000. Westside Investment Management Inc. raised its position in Heico by 100.0% in the third quarter. Westside Investment Management Inc. now owns 86 shares of the aerospace company’s stock valued at $28,000 after purchasing an additional 43 shares during the period. CBIZ Investment Advisory Services LLC lifted its stake in Heico by 1,000.0% during the fourth 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 in the last quarter. Greykasell Wealth Strategies Inc. purchased a new position in shares of Heico during the third quarter worth $29,000. Finally, Hazlett Burt & Watson Inc. purchased a new position in shares of Heico during the third quarter worth $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.