Heico (NYSE:HEI) Stock Breaks Above Two Hundred Day Moving Average – Here’s Why

Heico Corporation (NYSE:HEI)’s stock price passed above its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $320.16 and traded as high as $327.47. Heico shares last traded at $326.6210, with a volume of 521,783 shares.

Wall Street Analyst Weigh In

HEI has been the subject of several recent analyst reports. Citigroup upped their price target on Heico from $429.00 to $441.00 and gave the stock a “buy” rating in a research note on Friday, August 28th. Melius Research set a $350.00 price objective on Heico and gave the company a “hold” rating in a research note on Monday, September 14th. Stifel Nicolaus set a $410.00 target price on Heico in a report on Thursday, August 27th. Guggenheim assumed coverage on Heico in a research report on Monday, September 14th. They set a “neutral” rating for the company. Finally, Wall Street Zen cut Heico from a “buy” rating to a “hold” rating in a research report on Saturday, October 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $387.33.

Heico Stock Performance

The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.27 and a current ratio of 2.72. The stock’s 50-day simple moving average is $312.85 and its two-hundred day simple moving average is $320.16. The stock has a market cap of $45.65 billion, a price-to-earnings ratio of 54.35, a price-to-earnings-growth ratio of 2.60 and a beta of 1.09.

Heico (NYSE:HEI) last issued its quarterly earnings results on Tuesday, August 25th. The aerospace company reported $1.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.51 by $0.16. The company had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.36 billion. Heico had a return on equity of 18.00% and a net margin of 16.38%. The firm’s revenue was up 23.1% compared to the same quarter last year. During the same period last year, the business posted $1.26 earnings per share. Analysts forecast that Heico Corporation will post 6.29 earnings per share for the current year.

Insider Buying and Selling at Heico

In other Heico news, Director Mark Hildebrandt bought 795 shares of the firm’s stock in a transaction that occurred on Thursday, October 8th. The stock was purchased at an average price of $220.30 per share, for a total transaction of $175,138.50. Following the purchase, the director directly owned 50,218 shares in the company, valued at $11,063,025.40. This trade represents a 1.61% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Thomas Culligan bought 795 shares of the stock in a transaction on Thursday, October 8th. The stock was acquired at an average cost of $220.30 per share, for a total transaction of $175,138.50. Following the acquisition, the director directly owned 11,825 shares in the company, valued at approximately $2,605,047.50. The trade was a 7.21% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have acquired 5,362 shares of company stock worth $1,225,430 in the last ninety days. 4.86% of the stock is owned by insiders.

Institutional Investors Weigh In On Heico

Hedge funds have recently modified their holdings of the business. Maridea Wealth Management LLC bought a new position in Heico during the second quarter worth $1,128,000. Silvant Capital Management LLC acquired a new position in Heico during the 2nd quarter valued at $9,385,000. SBI Okasan Asset Management Co.Ltd. acquired a new position in Heico during the 2nd quarter valued at $1,262,000. Cypress Capital Management LLC WY bought a new stake in Heico in the 2nd quarter valued at $1,315,000. Finally, WINTON GROUP Ltd boosted its holdings in Heico by 124.4% in the 2nd quarter. WINTON GROUP Ltd now owns 4,758 shares of the aerospace company’s stock valued at $1,695,000 after purchasing an additional 2,638 shares during the period. 27.12% of the stock is owned by institutional investors.

About Heico

HEICO Corporation (NYSE: HEI) is an aerospace, defense, electronics and specialty industrial company headquartered in Hollywood, Florida. Founded in 1957, the company serves commercial aviation, defense, space, medical, telecommunications and other specialized markets.

HEICO operates through two primary business groups. Its Flight Support Group produces and distributes FAA-approved aircraft replacement parts, jet-engine components, specialized aircraft equipment and other products used by commercial and military aircraft operators.