Bank of America Boosts HEICO (NYSE:HEI) Price Target to $285.00

HEICO (NYSE:HEI) had its price target hoisted by analysts at Bank of America from $250.00 to $285.00 in a research report issued on Thursday, Benzinga reports. The firm currently has a “buy” rating on the aerospace company’s stock. Bank of America‘s target price suggests a potential upside of 7.70% from the company’s previous close.

Several other research firms have also recently issued reports on HEI. Barclays began coverage on HEICO in a research note on Monday, August 19th. They issued an “equal weight” rating and a $250.00 price target for the company. Robert W. Baird upped their target price on HEICO from $243.00 to $280.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 28th. Deutsche Bank Aktiengesellschaft increased their price objective on HEICO from $235.00 to $271.00 and gave the company a “buy” rating in a report on Wednesday, September 4th. Truist Financial raised their target price on HEICO from $248.00 to $264.00 and gave the company a “buy” rating in a report on Wednesday, August 28th. Finally, Benchmark restated a “buy” rating and set a $245.00 target price on shares of HEICO in a research report on Tuesday, August 27th. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $263.56.

HEICO Stock Performance

NYSE:HEI traded up $5.80 during midday trading on Thursday, reaching $264.62. The stock had a trading volume of 130,623 shares, compared to its average volume of 381,161. HEICO has a 12-month low of $155.42 and a 12-month high of $265.46. The company has a quick ratio of 1.47, a current ratio of 3.30 and a debt-to-equity ratio of 0.63. The firm has a fifty day simple moving average of $240.36 and a two-hundred day simple moving average of $219.26. The stock has a market cap of $36.65 billion, a P/E ratio of 83.18, a P/E/G ratio of 3.61 and a beta of 1.22.

HEICO (NYSE:HEI) last posted its quarterly earnings data on Monday, August 26th. The aerospace company reported $0.97 EPS for the quarter, topping analysts’ consensus estimates of $0.92 by $0.05. HEICO had a return on equity of 14.51% and a net margin of 12.64%. The firm had revenue of $992.20 million during the quarter, compared to analysts’ expectations of $995.34 million. During the same quarter last year, the business posted $0.77 EPS. The firm’s quarterly revenue was up 37.3% compared to the same quarter last year. On average, equities analysts expect that HEICO will post 3.63 EPS for the current year.

Insider Transactions at HEICO

In other HEICO news, Director Frank J. Schwitter purchased 475 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was acquired at an average cost of $252.26 per share, for a total transaction of $119,823.50. Following the completion of the transaction, the director now directly owns 1,730 shares in the company, valued at approximately $436,409.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, insider Eric A. Mendelson sold 2,832 shares of HEICO stock in a transaction on Monday, June 24th. The shares were sold at an average price of $180.06, for a total transaction of $509,929.92. Following the transaction, the insider now owns 246,060 shares in the company, valued at approximately $44,305,563.60. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Frank J. Schwitter purchased 475 shares of HEICO stock in a transaction on Tuesday, September 3rd. The stock was bought at an average price of $252.26 per share, for a total transaction of $119,823.50. Following the completion of the acquisition, the director now owns 1,730 shares in the company, valued at approximately $436,409.80. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 85,206 shares of company stock valued at $15,571,927. 8.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On HEICO

Several hedge funds have recently added to or reduced their stakes in HEI. Avantax Advisory Services Inc. purchased a new stake in shares of HEICO in the 4th quarter worth approximately $228,000. TrinityPoint Wealth LLC purchased a new position in HEICO during the fourth quarter valued at $213,000. BI Asset Management Fondsmaeglerselskab A S lifted its holdings in HEICO by 24.0% during the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 2,413 shares of the aerospace company’s stock valued at $432,000 after purchasing an additional 467 shares in the last quarter. Assetmark Inc. lifted its stake in shares of HEICO by 6.7% in the fourth quarter. Assetmark Inc. now owns 4,070 shares of the aerospace company’s stock worth $728,000 after buying an additional 256 shares in the last quarter. Finally, TCW Group Inc. increased its position in HEICO by 10.6% during the fourth quarter. TCW Group Inc. now owns 176,102 shares of the aerospace company’s stock worth $31,499,000 after purchasing an additional 16,878 shares during the last quarter. 27.12% of the stock is currently owned by institutional investors.

HEICO Company Profile

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.