Heico (NYSE:HEI) Upgraded by Wall Street Zen to Buy Rating

Wall Street Zen upgraded shares of Heico (NYSE:HEI) from a hold rating to a buy rating in a report released on Saturday morning.

Other equities analysts have also issued reports about the company. Wells Fargo & Company set a $350.00 target price on Heico and gave the stock an “equal weight” rating in a research report on Monday, June 1st. Citigroup reiterated a “buy” rating and issued a $429.00 price target (up from $410.00) on shares of Heico in a research report on Thursday. Weiss Ratings raised shares of Heico from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, July 16th. UBS Group reaffirmed a “neutral” rating and issued a $390.00 target price (up from $371.00) on shares of Heico in a research note on Monday, June 1st. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a $425.00 target price on shares of Heico in a report on Thursday. Three analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $376.69.

Heico Stock Performance

Shares of NYSE:HEI opened at $375.03 on Friday. The company has a current ratio of 2.92, a quick ratio of 1.36 and a debt-to-equity ratio of 0.53. Heico has a 1-year low of $256.11 and a 1-year high of $376.86. The stock has a market capitalization of $52.38 billion, a P/E ratio of 66.97, a P/E/G ratio of 3.88 and a beta of 1.04. The business has a 50-day moving average price of $349.68 and a two-hundred day moving average price of $319.97.

Heico (NYSE:HEI) last posted its quarterly earnings results on Wednesday, May 27th. The aerospace company reported $1.66 earnings per share for the quarter, topping analysts’ consensus estimates of $1.33 by $0.33. The business 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 17.52%. Heico’s revenue for the quarter was up 25.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.12 earnings per share. Equities analysts predict that Heico will post 5.95 earnings per share for the current year.

Heico Announces Dividend

The business also recently disclosed a dividend, which was paid on Wednesday, July 15th. Stockholders of record on Wednesday, July 1st were given a dividend of $0.13 per share. The ex-dividend date of this dividend was Wednesday, July 1st. This represents a dividend yield of 7.0%. Heico’s dividend payout ratio is currently 4.64%.

Insider Activity at Heico

In related news, CAO Bradley K. Rowen sold 1,326 shares of the business’s stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $241.63, for a total value of $320,401.38. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 4.86% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of HEI. Freestone Grove Partners LP acquired a new stake in shares of Heico in the second quarter valued at approximately $50,276,000. J. Goldman & Co LP acquired a new position in Heico during the second quarter worth $7,769,000. PDT Partners LLC bought a new position in Heico in the second quarter valued at $3,908,000. Osterweis Capital Management Inc. bought a new position in Heico in the second quarter valued at $81,000. Finally, Van Hulzen Asset Management LLC acquired a new stake in Heico in the 2nd quarter valued at $431,000. 27.12% of the stock is currently owned by institutional investors.

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.