Truist Financial Lowers HEICO (NYSE:HEI) Price Target to $277.00

HEICO (NYSE:HEI) had its target price lowered by equities researchers at Truist Financial from $294.00 to $277.00 in a report released on Thursday,Benzinga reports. The firm currently has a “buy” rating on the aerospace company’s stock. Truist Financial’s price objective indicates a potential upside of 13.68% from the company’s current price.

Several other research firms have also commented on HEI. KeyCorp started coverage on shares of HEICO in a report on Thursday, January 16th. They issued a “sector weight” rating for the company. Wells Fargo & Company started coverage on shares of HEICO in a research note on Tuesday. They issued an “equal weight” rating and a $244.00 price objective on the stock. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of HEICO from $271.00 to $266.00 and set a “buy” rating for the company in a research note on Thursday, December 19th. Finally, William Blair reiterated an “outperform” rating on shares of HEICO in a report on Tuesday, March 25th. Five equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $267.36.

HEICO Trading Down 1.4 %

Shares of HEI stock traded down $3.49 during mid-day trading on Thursday, reaching $243.66. The company’s stock had a trading volume of 35,090 shares, compared to its average volume of 575,240. HEICO has a 12-month low of $196.38 and a 12-month high of $283.60. The firm has a market capitalization of $33.86 billion, a PE ratio of 66.66, a price-to-earnings-growth ratio of 3.10 and a beta of 1.07. The company has a quick ratio of 1.34, a current ratio of 3.11 and a debt-to-equity ratio of 0.60. The company’s 50 day simple moving average is $249.73 and its 200-day simple moving average is $251.00.

HEICO (NYSE:HEI) last released its quarterly earnings results on Wednesday, February 26th. The aerospace company reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.93 by $0.27. HEICO had a net margin of 13.33% and a return on equity of 14.63%. The firm had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $983.10 million. On average, research analysts predict that HEICO will post 4.2 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of HEI. Compass Financial Services Inc bought a new position in shares of HEICO during the 4th quarter worth about $26,000. NBC Securities Inc. acquired a new position in HEICO during the first quarter worth $27,000. Banque Transatlantique SA acquired a new position in HEICO during the fourth quarter worth $44,000. Atwood & Palmer Inc. bought a new position in shares of HEICO during the first quarter valued at $80,000. Finally, Berbice Capital Management LLC bought a new stake in shares of HEICO in the 4th quarter worth about $95,000. 27.12% of the stock is currently 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.