HEICO (NYSE:HEI) Hits New 52-Week High Following Analyst Upgrade

HEICO Co. (NYSE:HEI) shares reached a new 52-week high during trading on Thursday after Bank of America raised their price target on the stock from $250.00 to $285.00. Bank of America currently has a buy rating on the stock. HEICO traded as high as $264.30 and last traded at $264.07, with a volume of 52150 shares trading hands. The stock had previously closed at $258.82.

Other analysts also recently issued research reports about the stock. Royal Bank of Canada increased their target price on shares of HEICO from $250.00 to $272.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 28th. Deutsche Bank Aktiengesellschaft upped their price target on shares of HEICO from $235.00 to $271.00 and gave the stock a “buy” rating in a research report on Wednesday, September 4th. Barclays started coverage on shares of HEICO in a report on Monday, August 19th. They set an “equal weight” rating and a $250.00 price target for the company. Robert W. Baird raised their price target on HEICO from $243.00 to $280.00 and gave the stock an “outperform” rating in a report on Wednesday, August 28th. Finally, Stifel Nicolaus upped their price target on shares of HEICO from $250.00 to $280.00 and gave the stock a “buy” rating in a research report on Tuesday, August 27th. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $263.56.

Insider Transactions at HEICO

In other HEICO news, Director Frank J. Schwitter bought 475 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was acquired at an average cost of $252.26 per share, with a total value of $119,823.50. Following the completion of the purchase, the director now directly owns 1,730 shares in the company, valued at $436,409.80. The purchase was disclosed in a filing with the SEC, which is accessible through this link. In related news, Director Frank J. Schwitter bought 475 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were bought at an average cost of $252.26 per share, with a total value of $119,823.50. Following the completion of the transaction, the director now directly owns 1,730 shares of the company’s stock, valued at $436,409.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Eric A. Mendelson sold 8,864 shares of the stock in a transaction on Monday, July 8th. The shares were sold at an average price of $180.54, for a total value of $1,600,306.56. Following the completion of the transaction, the insider now owns 222,401 shares of the company’s stock, valued at approximately $40,152,276.54. The disclosure for this sale can be found here. Insiders have sold 85,206 shares of company stock valued at $15,571,927 in the last quarter. Insiders own 8.10% of the company’s stock.

Institutional Investors Weigh In On HEICO

Large investors have recently made changes to their positions in the company. Nomura Holdings Inc. acquired a new stake in shares of HEICO in the fourth quarter valued at about $897,000. Meyer Handelman Co. acquired a new position in shares of HEICO in the 1st quarter worth approximately $1,072,000. Quadrature Capital Ltd bought a new position in shares of HEICO during the 1st quarter worth approximately $2,796,000. Mediolanum International Funds Ltd acquired a new stake in HEICO in the 1st quarter valued at $1,442,000. Finally, Dudley & Shanley Inc. grew its holdings in shares of HEICO by 24.0% in the 1st quarter. Dudley & Shanley Inc. now owns 18,400 shares of the aerospace company’s stock worth $3,514,000 after purchasing an additional 3,560 shares during the last quarter. Institutional investors and hedge funds own 27.12% of the company’s stock.

HEICO Trading Up 2.1 %

The company has a market cap of $36.59 billion, a price-to-earnings ratio of 83.21, a price-to-earnings-growth ratio of 3.61 and a beta of 1.22. The company’s fifty day moving average price is $240.36 and its two-hundred day moving average price is $219.26. The company has a quick ratio of 1.47, a current ratio of 3.30 and a debt-to-equity ratio of 0.63.

HEICO (NYSE:HEI) last announced its earnings results on Monday, August 26th. The aerospace company reported $0.97 earnings per share for the quarter, beating 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 company had revenue of $992.20 million during the quarter, compared to analyst estimates of $995.34 million. During the same period last year, the company posted $0.77 earnings per share. The firm’s quarterly revenue was up 37.3% compared to the same quarter last year. Research analysts expect that HEICO Co. will post 3.63 earnings per share for the current year.

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.