BNP Paribas Exane Initiates Coverage on Heico (NYSE:HEI)

Equities researchers at BNP Paribas Exane started coverage on shares of Heico (NYSE:HEI) in a research report issued on Tuesday. The brokerage set a “neutral” rating and a $330.00 price target on the aerospace company’s stock. BNP Paribas Exane’s price objective indicates a potential upside of 7.33% from the company’s current price.

HEI has been the subject of several other reports. Wall Street Zen upgraded Heico from a “hold” rating to a “buy” rating in a research note on Saturday, August 30th. Robert W. Baird upped their price objective on shares of Heico from $360.00 to $400.00 and gave the company an “outperform” rating in a report on Wednesday, August 27th. Weiss Ratings restated a “buy (b-)” rating on shares of Heico in a report on Wednesday, November 5th. Royal Bank Of Canada set a $350.00 target price on Heico in a research note on Wednesday, August 27th. Finally, Zacks Research upgraded Heico to a “hold” rating in a research note on Monday, August 11th. Ten equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $344.75.

Heico Trading Down 1.1%

HEI traded down $3.42 during mid-day trading on Tuesday, hitting $307.47. The stock had a trading volume of 41,870 shares, compared to its average volume of 461,864. The stock’s fifty day simple moving average is $317.22 and its 200-day simple moving average is $309.89. The firm has a market capitalization of $42.80 billion, a price-to-earnings ratio of 67.28, a price-to-earnings-growth ratio of 3.64 and a beta of 1.08. Heico has a 1-year low of $216.68 and a 1-year high of $338.92. The company has a debt-to-equity ratio of 0.58, a current ratio of 3.35 and a quick ratio of 1.51.

Heico (NYSE:HEI) last released its quarterly earnings results on Monday, August 25th. The aerospace company reported $1.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.14. The firm had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.11 billion. Heico had a return on equity of 16.29% and a net margin of 14.96%.The company’s revenue for the quarter was up 15.7% on a year-over-year basis. During the same quarter last year, the business posted $0.97 EPS. As a group, research analysts forecast that Heico will post 4.2 EPS for the current fiscal year.

Insider Activity at Heico

In other news, Director Alan Schriesheim bought 672 shares of the firm’s stock in a transaction on Friday, October 10th. The shares were purchased at an average cost of $243.93 per share, with a total value of $163,920.96. Following the acquisition, the director directly owned 672 shares in the company, valued at $163,920.96. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Mark H. Hildebrandt acquired 400 shares of the stock in a transaction on Tuesday, October 21st. The shares were purchased at an average price of $248.76 per share, with a total value of $99,504.00. Following the completion of the transaction, the director owned 1,181 shares of the company’s stock, valued at approximately $293,785.56. This represents a 51.22% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders acquired a total of 4,448 shares of company stock worth $1,086,933 in the last quarter. 9.55% of the stock is currently owned by corporate insiders.

Institutional Trading of Heico

Large investors have recently bought and sold shares of the business. Congress Asset Management Co. raised its stake in Heico by 366.0% during the second quarter. Congress Asset Management Co. now owns 308,457 shares of the aerospace company’s stock worth $101,174,000 after acquiring an additional 242,264 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of Heico by 45.7% during the 3rd quarter. American Century Companies Inc. now owns 769,704 shares of the aerospace company’s stock valued at $248,476,000 after purchasing an additional 241,559 shares during the last quarter. Munro Partners bought a new position in Heico in the 2nd quarter valued at approximately $59,720,000. Mackenzie Financial Corp acquired a new stake in Heico in the first quarter valued at approximately $40,949,000. Finally, Balyasny Asset Management L.P. grew its stake in shares of Heico by 263.2% during the third quarter. Balyasny Asset Management L.P. now owns 60,469 shares of the aerospace company’s stock worth $19,521,000 after buying an additional 43,821 shares during the last quarter. 27.12% of the stock is owned by institutional investors and hedge funds.

About Heico

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.