HEICO (NYSE:HEI) Price Target Increased to $285.00 by Analysts at Bank of America

HEICO (NYSE:HEI) had its target price upped by Bank of America from $250.00 to $285.00 in a research note issued to investors on Thursday morning, Benzinga reports. They currently have a buy rating on the aerospace company’s stock.

Several other equities analysts also recently commented on the company. Stifel Nicolaus increased their price target on HEICO from $250.00 to $280.00 and gave the company a buy rating in a report on Tuesday, August 27th. Barclays started coverage on shares of HEICO in a research note on Monday, August 19th. They issued an equal weight rating and a $250.00 target price on the stock. Deutsche Bank Aktiengesellschaft boosted their target price 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. Benchmark reaffirmed a buy rating and issued a $245.00 price target on shares of HEICO in a research report on Tuesday, August 27th. Finally, Truist Financial boosted their price objective on HEICO from $248.00 to $264.00 and gave the stock a buy rating in a research report on Wednesday, August 28th. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of Moderate Buy and a consensus target price of $263.56.

HEICO Stock Up 0.5 %

HEICO stock opened at $265.81 on Thursday. The company has a market capitalization of $36.81 billion, a P/E ratio of 83.59, a P/E/G ratio of 3.61 and a beta of 1.22. HEICO has a 1-year low of $155.42 and a 1-year high of $265.98. The firm’s fifty day simple moving average is $242.58 and its 200-day simple moving average is $220.79. The company has a current ratio of 3.30, a quick ratio of 1.47 and a debt-to-equity ratio of 0.63.

HEICO (NYSE:HEI) last announced its quarterly earnings results on Monday, August 26th. The aerospace company reported $0.97 earnings per share for the quarter, topping analysts’ consensus estimates of $0.92 by $0.05. The company had revenue of $992.20 million during the quarter, compared to analysts’ expectations of $995.34 million. HEICO had a return on equity of 14.51% and a net margin of 12.64%. The business’s quarterly revenue was up 37.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.77 earnings per share. Sell-side analysts forecast that HEICO will post 3.63 earnings per share for the current fiscal year.

Insider Buying and Selling at HEICO

In other news, Director Frank J. Schwitter acquired 475 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were 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 owns 1,730 shares in the company, valued at approximately $436,409.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other HEICO news, insider Eric A. Mendelson sold 8,864 shares of the firm’s stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $180.54, for a total transaction of $1,600,306.56. Following the completion of the transaction, the insider now owns 222,401 shares in the company, valued at $40,152,276.54. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Frank J. Schwitter acquired 475 shares of the stock in a transaction dated 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 purchase, 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. Insiders sold a total of 82,374 shares of company stock valued at $15,061,997 in the last quarter. Corporate insiders own 8.10% of the company’s stock.

Institutional Trading of HEICO

Institutional investors have recently bought and sold shares of the stock. Andra AP fonden bought a new position in shares of HEICO during the second quarter valued at $45,000. Center for Financial Planning Inc. bought a new position in HEICO during the 2nd quarter valued at about $52,000. American National Bank bought a new stake in HEICO during the second quarter worth about $66,000. Strategic Financial Concepts LLC acquired a new stake in shares of HEICO during the second quarter worth approximately $67,000. Finally, FSC Wealth Advisors LLC bought a new position in shares of HEICO in the second quarter valued at approximately $73,000. Institutional investors and hedge funds own 27.12% of the company’s stock.

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.