Heico (NYSE:HEI) Stock Price Expected to Rise, Citigroup Analyst Says

Heico (NYSE:HEI) had its price target raised by research analysts at Citigroup from $429.00 to $441.00 in a research report issued on Friday,Benzinga reports. The firm currently has a “buy” rating on the aerospace company’s stock. Citigroup’s price objective suggests a potential upside of 31.70% from the stock’s previous close.

A number of other equities research analysts have also recently commented on HEI. Royal Bank Of Canada lifted their price target on shares of Heico from $375.00 to $390.00 and gave the company an “outperform” rating in a research note on Friday, May 29th. Deutsche Bank Aktiengesellschaft set a $421.00 price objective on shares of Heico and gave the stock a “buy” rating in a research report on Wednesday, August 19th. Weiss Ratings raised Heico from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, July 16th. Zacks Research raised Heico from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, June 9th. Finally, Stifel Nicolaus set a $410.00 price target on Heico in a research note on Thursday. Three equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $382.43.

Heico Trading Down 0.6%

HEI stock traded down $2.17 during mid-day trading on Friday, reaching $334.84. The company’s stock had a trading volume of 75,965 shares, compared to its average volume of 596,024. Heico has a 12 month low of $256.11 and a 12 month high of $376.86. The company has a current ratio of 2.92, a quick ratio of 1.36 and a debt-to-equity ratio of 0.53. The business’s 50 day moving average price is $353.85 and its 200 day moving average price is $321.45. The company has a market cap of $46.76 billion, a price-to-earnings ratio of 55.71, a price-to-earnings-growth ratio of 3.49 and a beta of 1.04.

Heico (NYSE:HEI) last released its quarterly earnings data on Tuesday, August 25th. The aerospace company reported $1.67 earnings per share for the quarter, beating the consensus estimate of $1.51 by $0.16. Heico had a net margin of 16.38% and a return on equity of 18.41%. The company had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.36 billion. During the same quarter in the previous year, the business posted $1.26 EPS. Heico’s revenue for the quarter was up 23.1% compared to the same quarter last year. On average, equities research analysts predict that Heico will post 6.02 EPS for the current year.

Insider Buying and Selling at Heico

In other Heico news, CAO Bradley K. Rowen sold 1,326 shares of the firm’s stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $241.63, for a total value of $320,401.38. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 4.86% of the company’s stock.

Institutional Investors Weigh In On Heico

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

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.