Benchmark Raises HEICO (NYSE:HEI) Price Target to $245.00

HEICO (NYSE:HEI) had its target price boosted by investment analysts at Benchmark from $185.00 to $245.00 in a note issued to investors on Friday, Benzinga reports. The firm presently has a “buy” rating on the aerospace company’s stock. Benchmark’s price objective suggests a potential upside of 8.81% from the company’s current price.

HEI has been the subject of several other reports. Stifel Nicolaus raised their price objective on shares of HEICO from $215.00 to $230.00 and gave the stock a “buy” rating in a research report on Monday, May 6th. Morgan Stanley upgraded shares of HEICO from an “underweight” rating to an “equal weight” rating and raised their price objective for the stock from $178.00 to $225.00 in a research report on Tuesday, June 4th. Robert W. Baird raised their price objective on shares of HEICO from $223.00 to $243.00 and gave the stock an “outperform” rating in a research report on Thursday, May 30th. Truist Financial restated a “buy” rating and set a $240.00 price objective (up from $229.00) on shares of HEICO in a research report on Thursday, May 30th. Finally, Royal Bank of Canada raised their price objective on shares of HEICO from $235.00 to $250.00 and gave the stock an “outperform” rating in a research report on Thursday, May 30th. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $232.67.

HEICO Price Performance

Shares of NYSE HEI opened at $225.17 on Friday. The firm has a 50-day simple moving average of $210.69 and a 200-day simple moving average of $193.19. The stock has a market capitalization of $31.19 billion, a price-to-earnings ratio of 70.81, a price-to-earnings-growth ratio of 3.40 and a beta of 1.21. The company has a quick ratio of 1.57, a current ratio of 3.52 and a debt-to-equity ratio of 0.69. HEICO has a 52 week low of $155.42 and a 52 week high of $229.30.

HEICO (NYSE:HEI) last issued its earnings results on Tuesday, May 28th. The aerospace company reported $0.88 EPS for the quarter, beating analysts’ consensus estimates of $0.80 by $0.08. The business had revenue of $955.40 million during the quarter, compared to analysts’ expectations of $951.24 million. HEICO had a net margin of 12.62% and a return on equity of 14.26%. The company’s quarterly revenue was up 38.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.76 earnings per share. On average, equities analysts predict that HEICO will post 3.53 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other HEICO news, Director Alan Schriesheim sold 26,000 shares of the stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $192.18, for a total transaction of $4,996,680.00. Following the completion of the transaction, the director now owns 155,862 shares of the company’s stock, valued at $29,953,559.16. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, Director Frank J. Schwitter sold 400 shares of the firm’s stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $193.70, for a total value of $77,480.00. Following the completion of the transaction, the director now owns 1,255 shares of the company’s stock, valued at $243,093.50. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Alan Schriesheim sold 26,000 shares of the firm’s stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $192.18, for a total transaction of $4,996,680.00. Following the completion of the transaction, the director now directly owns 155,862 shares of the company’s stock, valued at approximately $29,953,559.16. The disclosure for this sale can be found here. 8.10% of the stock is currently owned by insiders.

Institutional Trading of HEICO

Several hedge funds have recently added to or reduced their stakes in HEI. Tocqueville Asset Management L.P. raised its holdings in HEICO by 10.7% in the third quarter. Tocqueville Asset Management L.P. now owns 1,350 shares of the aerospace company’s stock valued at $219,000 after acquiring an additional 130 shares in the last quarter. Wolverine Asset Management LLC raised its holdings in HEICO by 114.3% in the third quarter. Wolverine Asset Management LLC now owns 15,000 shares of the aerospace company’s stock valued at $2,429,000 after acquiring an additional 8,000 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its holdings in HEICO by 8.6% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 5,068 shares of the aerospace company’s stock valued at $821,000 after acquiring an additional 402 shares in the last quarter. Azimuth Capital Investment Management LLC acquired a new stake in HEICO in the third quarter valued at approximately $6,908,000. Finally, Sawgrass Asset Management LLC acquired a new stake in HEICO in the third quarter valued at approximately $5,010,000. Institutional investors and hedge funds own 27.12% of the company’s stock.

HEICO Company Profile

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.