Heico Corporation (NYSE:HEI) Given Average Rating of “Moderate Buy” by Analysts

Heico Corporation (NYSE:HEI) has been assigned an average rating of “Moderate Buy” from the eighteen ratings firms that are presently covering the company, Marketbeat Ratings reports. Seven investment analysts have rated the stock with a hold recommendation, eight have issued a buy recommendation and three have assigned a strong buy recommendation to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $374.5625.

Several research analysts have issued reports on HEI shares. Zacks Research upgraded Heico from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, June 9th. Morgan Stanley set a $370.00 price objective on shares of Heico in a research report on Wednesday. Citigroup reissued a “buy” rating and issued a $410.00 price objective (up from $403.00) on shares of Heico in a research note on Wednesday, July 1st. Jefferies Financial Group reissued a “buy” rating and set a $410.00 price target (up from $375.00) on shares of Heico in a research report on Thursday, May 28th. Finally, Wells Fargo & Company set a $350.00 price objective on shares of Heico and gave the company an “equal weight” rating in a research report on Monday, June 1st.

Insiders Place Their Bets

In other Heico news, CAO Bradley K. Rowen sold 1,326 shares of the stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $241.63, for a total transaction of $320,401.38. The transaction was disclosed in a filing with the SEC, which is available at this link. 4.86% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Heico

A number of large investors have recently modified their holdings of HEI. Hennion & Walsh Asset Management Inc. raised its holdings in Heico by 6.6% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 11,937 shares of the aerospace company’s stock valued at $4,252,000 after buying an additional 739 shares during the period. Red Spruce Capital LLC boosted its position in Heico by 38.4% in the 2nd quarter. Red Spruce Capital LLC now owns 1,657 shares of the aerospace company’s stock valued at $590,000 after buying an additional 460 shares during the last quarter. Mirador Capital Partners LP boosted its holdings in Heico by 1.2% in the second quarter. Mirador Capital Partners LP now owns 5,742 shares of the aerospace company’s stock valued at $2,045,000 after purchasing an additional 66 shares during the last quarter. Carderock Capital Management Inc. boosted its stake in shares of Heico by 6.8% during the 2nd quarter. Carderock Capital Management Inc. now owns 40,081 shares of the aerospace company’s stock valued at $14,276,000 after buying an additional 2,556 shares during the last quarter. Finally, Sapient Capital LLC acquired a new position in Heico during the 1st quarter worth $253,000. 27.12% of the stock is currently owned by hedge funds and other institutional investors.

Heico Price Performance

Heico stock opened at $351.70 on Thursday. The stock has a market capitalization of $49.12 billion, a PE ratio of 62.80, a price-to-earnings-growth ratio of 3.65 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 has a 12 month low of $256.11 and a 12 month high of $369.48. The business has a 50 day simple moving average of $328.47 and a 200-day simple moving average of $317.56.

Heico (NYSE:HEI) last released its earnings results on Wednesday, May 27th. The aerospace company reported $1.66 EPS for the quarter, topping the consensus estimate of $1.33 by $0.33. The company had revenue of $1.38 billion during the quarter, compared to analysts’ expectations of $1.25 billion. Heico had a net margin of 16.08% and a return on equity of 17.52%. The business’s revenue was up 25.3% on a year-over-year basis. During the same quarter last year, the business earned $1.12 EPS. Equities analysts predict that Heico will post 5.83 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 issued a dividend of $0.13 per share. This represents a dividend yield of 7.0%. The ex-dividend date was Wednesday, July 1st. Heico’s dividend payout ratio is presently 4.64%.

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.