Heico (NYSE:HEI) Posts Quarterly Earnings Results, Beats Expectations By $0.33 EPS

Heico (NYSE:HEI) announced its quarterly earnings data on Wednesday. The aerospace company reported $1.66 EPS for the quarter, beating the consensus estimate of $1.33 by $0.33, Zacks reports. Heico had a net margin of 15.38% and a return on equity of 16.57%. The firm had revenue of $1.38 billion during the quarter, compared to analysts’ expectations of $1.25 billion. During the same quarter last year, the business earned $1.12 earnings per share. The business’s revenue for the quarter was up 25.3% compared to the same quarter last year.

Heico Price Performance

Heico stock opened at $310.33 on Thursday. Heico has a 1 year low of $256.11 and a 1 year high of $361.69. The firm has a 50 day moving average price of $284.36 and a 200 day moving average price of $311.20. The company has a market cap of $43.30 billion, a price-to-earnings ratio of 61.33, a PEG ratio of 3.78 and a beta of 0.95. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.41 and a current ratio of 3.06.

Insider Transactions at Heico

In related news, Director Julie Neitzel sold 676 shares of the business’s stock in a transaction that occurred on Wednesday, April 15th. The shares were sold at an average price of $223.00, for a total value of $150,748.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 4.86% of the company’s stock.

Institutional Investors Weigh In On Heico

A number of institutional investors have recently bought and sold shares of the stock. Birchwood Financial Partners Inc. purchased a new stake in Heico in the fourth quarter valued at approximately $32,000. EP Wealth Advisors LLC purchased a new stake in Heico in the fourth quarter valued at approximately $3,571,000. Coastal Bridge Advisors LLC grew its holdings in Heico by 4.1% in the fourth quarter. Coastal Bridge Advisors LLC now owns 1,246 shares of the aerospace company’s stock valued at $403,000 after purchasing an additional 49 shares during the period. nVerses Capital LLC purchased a new stake in Heico in the fourth quarter valued at approximately $257,000. Finally, VARCOV Co. purchased a new stake in Heico in the fourth quarter valued at approximately $277,000. 27.12% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently commented on HEI. Rothschild & Co Redburn set a $360.00 price objective on shares of Heico and gave the company a “buy” rating in a research note on Wednesday, May 13th. Wall Street Zen cut shares of Heico from a “buy” rating to a “hold” rating in a research note on Sunday, March 8th. Truist Financial upgraded shares of Heico to a “strong-buy” rating in a research note on Friday, May 1st. Jefferies Financial Group set a $375.00 target price on shares of Heico in a research report on Sunday. Finally, BNP Paribas Exane upgraded shares of Heico from a “neutral” rating to an “outperform” rating in a research report on Friday, February 27th. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $359.81.

Heico Company Profile

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.