Heico (NYSE:HEI) Share Price Breaks Above 200 Day Moving Average – Here’s What Happened

Heico Corporation (NYSE:HEI) shares passed above its two hundred day moving average during trading on Thursday. The stock has a two hundred day moving average of $320.16 and traded as high as $327.47. Heico shares last traded at $326.6210, with a volume of 521,783 shares.

Wall Street Analysts Forecast Growth

HEI has been the topic of several research analyst reports. UBS Group restated a “neutral” rating and set a $396.00 price objective (up from $382.00) on shares of Heico in a research note on Thursday, August 27th. Wells Fargo & Company lowered their target price on shares of Heico from $350.00 to $335.00 and set an “equal weight” rating for the company in a research note on Wednesday, September 30th. Morgan Stanley set a $345.00 price objective on shares of Heico and gave the stock an “equal weight” rating in a research note on Friday, October 16th. Truist Financial raised their target price on Heico from $397.00 to $412.00 and gave the company a “buy” rating in a research note on Tuesday, September 8th. Finally, Wall Street Zen lowered Heico from a “buy” rating to a “hold” rating in a report on Saturday, October 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat.com, Heico has an average rating of “Moderate Buy” and an average price target of $387.33.

Heico Stock Performance

The company has a quick ratio of 1.27, a current ratio of 2.72 and a debt-to-equity ratio of 0.51. The firm’s 50-day moving average is $312.22 and its two-hundred day moving average is $319.98. The stock has a market cap of $44.74 billion, a P/E ratio of 53.27, a price-to-earnings-growth ratio of 2.73 and a beta of 1.09.

Heico (NYSE:HEI) last issued its quarterly earnings data on Tuesday, August 25th. The aerospace company reported $1.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.51 by $0.16. The firm had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.36 billion. Heico had a net margin of 16.38% and a return on equity of 18.00%. Heico’s revenue for the quarter was up 23.1% on a year-over-year basis. During the same period in the prior year, the company posted $1.26 earnings per share. As a group, research analysts expect that Heico Corporation will post 6.29 EPS for the current year.

Insiders Place Their Bets

In other Heico news, Director Adolfo Henriques acquired 795 shares of the business’s stock in a transaction that occurred on Thursday, October 8th. The stock was acquired at an average price of $220.30 per share, with a total value of $175,138.50. Following the transaction, the director owned 24,864 shares of the company’s stock, valued at approximately $5,477,539.20. This trade represents a 3.30% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Mark H. Hildebrandt bought 795 shares of the company’s stock in a transaction that occurred on Thursday, October 8th. The shares were bought at an average cost of $220.30 per share, for a total transaction of $175,138.50. Following the transaction, the director directly owned 50,218 shares of the company’s stock, valued at $11,063,025.40. This trade represents a 1.61% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders acquired a total of 5,362 shares of company stock worth $1,225,430 in the last ninety days. 4.86% of the stock is owned by insiders.

Hedge Funds Weigh In On Heico

Several large investors have recently added to or reduced their stakes in the company. Verity Asset Management Inc. raised its holdings in shares of Heico by 2.5% during the third quarter. Verity Asset Management Inc. now owns 7,776 shares of the aerospace company’s stock valued at $2,358,000 after purchasing an additional 191 shares during the period. CHICAGO TRUST Co NA raised its holdings in Heico by 47.8% during the 3rd quarter. CHICAGO TRUST Co NA now owns 4,395 shares of the aerospace company’s stock valued at $1,332,000 after acquiring an additional 1,422 shares during the period. Evergreen Capital Management LLC lifted its stake in Heico by 2.1% in the 3rd quarter. Evergreen Capital Management LLC now owns 2,753 shares of the aerospace company’s stock worth $835,000 after purchasing an additional 56 shares in the last quarter. Compass Wealth Management LLC purchased a new position in shares of Heico during the third quarter worth about $61,000. Finally, Strategic Planning Group LLC increased its position in shares of Heico by 6.3% during the 3rd quarter. Strategic Planning Group LLC now owns 42,377 shares of the aerospace company’s stock valued at $12,848,000 after purchasing an additional 2,530 shares during the last quarter. Institutional investors and hedge funds own 27.12% of the company’s stock.

About Heico

HEICO Corporation (NYSE: HEI) is an aerospace, defense, electronics and specialty industrial company headquartered in Hollywood, Florida. Founded in 1957, the company serves commercial aviation, defense, space, medical, telecommunications and other specialized markets.

HEICO operates through two primary business groups. Its Flight Support Group produces and distributes FAA-approved aircraft replacement parts, jet-engine components, specialized aircraft equipment and other products used by commercial and military aircraft operators.