Heico (NYSE:HEI) Shares Gap Up on Earnings Beat

Heico Corporation (NYSE:HEI)’s stock price gapped up prior to trading on Thursday following a better than expected earnings announcement. The stock had previously closed at $309.40, but opened at $346.71. Heico shares last traded at $348.7450, with a volume of 219,508 shares.

The aerospace company reported $1.66 EPS for the quarter, topping the consensus estimate of $1.33 by $0.33. Heico had a return on equity of 16.57% and a net margin of 15.38%.The firm had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.25 billion. During the same period in the previous year, the business earned $1.12 EPS. The business’s quarterly revenue was up 25.3% compared to the same quarter last year.

Wall Street Analysts Forecast Growth

HEI has been the topic of several analyst reports. Jefferies Financial Group set a $375.00 target price on Heico in a report on Sunday. Rothschild & Co Redburn set a $360.00 price objective on shares of Heico and gave the company a “buy” rating in a research note on Wednesday, May 13th. Wells Fargo & Company assumed coverage on shares of Heico in a research note on Wednesday, April 1st. They set an “equal weight” rating and a $290.00 target price for the company. Truist Financial raised shares of Heico to a “strong-buy” rating in a research report on Friday, May 1st. Finally, Citigroup lowered their price objective on Heico from $400.00 to $323.00 and set a “buy” rating for the company in a research report on Thursday, April 2nd. Two research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $359.81.

Insider Buying and Selling at Heico

In related news, Director Julie Neitzel sold 676 shares of the business’s stock in a transaction on Wednesday, April 15th. The shares were sold at an average price of $223.00, for a total transaction of $150,748.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 4.86% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Heico

A number of institutional investors and hedge funds have recently made changes to their positions in HEI. Acadian Asset Management LLC increased its position in Heico by 216.7% in the 1st quarter. Acadian Asset Management LLC now owns 1,381 shares of the aerospace company’s stock valued at $368,000 after buying an additional 945 shares in the last quarter. Worldquant Millennium Advisors LLC bought a new position in Heico in the second quarter worth approximately $2,338,000. PDT Partners LLC grew its stake in Heico by 52.6% in the second quarter. PDT Partners LLC now owns 39,019 shares of the aerospace company’s stock valued at $12,798,000 after acquiring an additional 13,443 shares during the period. BI Asset Management Fondsmaeglerselskab A S grew its stake in Heico by 10.8% in the second quarter. BI Asset Management Fondsmaeglerselskab A S now owns 4,794 shares of the aerospace company’s stock valued at $1,572,000 after acquiring an additional 468 shares during the period. Finally, IHT Wealth Management LLC increased its holdings in shares of Heico by 2.1% during the second quarter. IHT Wealth Management LLC now owns 5,717 shares of the aerospace company’s stock valued at $1,875,000 after acquiring an additional 117 shares in the last quarter. Institutional investors own 27.12% of the company’s stock.

Heico Price Performance

The company has a quick ratio of 1.41, a current ratio of 3.06 and a debt-to-equity ratio of 0.55. The business has a 50-day moving average price of $284.36 and a two-hundred day moving average price of $311.20. The company has a market capitalization of $48.33 billion, a price-to-earnings ratio of 68.74, a price-to-earnings-growth ratio of 3.78 and a beta of 0.95.

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.