Heico (NYSE:HEI) Raised to Buy at Wall Street Zen

Heico (NYSE:HEI) was upgraded by stock analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Monday, Wall Street Zen reports.

HEI has been the subject of several other research reports. Morgan Stanley set a $370.00 target price on shares of Heico in a report on Wednesday, July 15th. UBS Group reissued a “neutral” rating and issued a $396.00 price objective (up from $382.00) on shares of Heico in a research report on Thursday, August 27th. Wells Fargo & Company set a $350.00 price objective on shares of Heico and gave the stock an “equal weight” rating in a research note on Monday, June 1st. Zacks Research upgraded Heico from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, June 9th. Finally, Rothschild & Co Redburn set a $360.00 target price on Heico and gave the company a “buy” rating in a research note on Wednesday, May 13th. Three analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Heico has a consensus rating of “Buy” and a consensus target price of $396.07.

Heico Stock Performance

NYSE:HEI opened at $324.63 on Monday. The firm has a market capitalization of $45.34 billion, a PE ratio of 54.02, a PEG ratio of 3.23 and a beta of 1.04. The stock’s fifty day moving average is $353.63 and its 200 day moving average is $321.61. Heico has a fifty-two week low of $256.11 and a fifty-two week high of $376.86. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.27 and a current ratio of 2.72.

Heico (NYSE:HEI) last posted its quarterly earnings data on Tuesday, August 25th. The aerospace company reported $1.67 EPS for the quarter, topping the consensus estimate of $1.51 by $0.16. Heico had a net margin of 16.38% and a return on equity of 18.00%. The company had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.36 billion. During the same period in the previous year, the firm earned $1.26 earnings per share. Heico’s quarterly revenue was up 23.1% compared to the same quarter last year. On average, sell-side analysts anticipate that Heico will post 6.13 earnings per share for the current year.

Insiders Place Their Bets

In related news, CAO Bradley K. Rowen sold 1,326 shares of Heico stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $241.63, for a total transaction of $320,401.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 4.86% of the stock is owned by insiders.

Hedge Funds Weigh In On Heico

A number of institutional investors have recently modified their holdings of the stock. Acadian Asset Management LLC boosted its holdings in shares of Heico by 216.7% in the first quarter. Acadian Asset Management LLC now owns 1,381 shares of the aerospace company’s stock valued at $368,000 after purchasing an additional 945 shares during the period. Worldquant Millennium Advisors LLC bought a new stake in Heico during the 2nd quarter valued at $2,338,000. PDT Partners LLC lifted its holdings in shares of Heico by 52.6% in the 2nd quarter. PDT Partners LLC now owns 39,019 shares of the aerospace company’s stock worth $12,798,000 after buying an additional 13,443 shares during the period. BI Asset Management Fondsmaeglerselskab A S lifted its holdings in shares of Heico by 10.8% in 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 buying an additional 468 shares during the period. Finally, IHT Wealth Management LLC grew its position in shares of 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 buying an additional 117 shares in the last quarter. 27.12% of the stock is owned by hedge funds and other 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.