HEICO (NYSE:HEI) Price Target Increased to $282.00 by Analysts at Truist Financial

HEICO (NYSE:HEI) had its price objective hoisted by equities research analysts at Truist Financial from $264.00 to $282.00 in a report issued on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the aerospace company’s stock. Truist Financial’s price objective would suggest a potential upside of 6.53% from the stock’s previous close.

HEI has been the topic of several other research reports. Stifel Nicolaus upped their price objective on HEICO from $250.00 to $280.00 and gave the company a “buy” rating in a research report on Tuesday, August 27th. UBS Group began coverage on HEICO in a report on Tuesday. They issued a “neutral” rating and a $277.00 price objective for the company. Robert W. Baird raised their target price on shares of HEICO from $243.00 to $280.00 and gave the company 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. Finally, Royal Bank of Canada upped their price target 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. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, HEICO currently has an average rating of “Moderate Buy” and an average price target of $270.70.

HEICO Stock Performance

NYSE:HEI opened at $264.71 on Friday. The stock’s fifty day moving average is $254.68 and its 200 day moving average is $230.03. The firm has a market capitalization of $36.66 billion, a PE ratio of 83.24, a PEG ratio of 3.69 and a beta of 1.22. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.47 and a current ratio of 3.30. HEICO has a fifty-two week low of $155.42 and a fifty-two week high of $269.38.

HEICO (NYSE:HEI) last announced its quarterly earnings data on Monday, August 26th. The aerospace company reported $0.97 EPS for the quarter, beating the consensus estimate of $0.92 by $0.05. The company had revenue of $992.20 million for the quarter, compared to the consensus estimate of $995.34 million. HEICO had a return on equity of 14.51% and a net margin of 12.64%. HEICO’s quarterly revenue was up 37.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.77 EPS. On average, sell-side analysts anticipate that HEICO will post 3.66 earnings per share for the current year.

Insider Transactions at HEICO

In other news, insider Eric A. Mendelson sold 20,000 shares of the company’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $186.09, for a total transaction of $3,721,800.00. Following the transaction, the insider now directly owns 148,891 shares of the company’s stock, valued at approximately $27,707,126.19. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, insider Eric A. Mendelson sold 20,000 shares of the company’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $186.09, for a total transaction of $3,721,800.00. Following the transaction, the insider now directly owns 148,891 shares of the company’s stock, valued at approximately $27,707,126.19. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Frank J. Schwitter purchased 475 shares of HEICO 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 of the company’s stock, valued at approximately $436,409.80. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders own 8.10% of the company’s stock.

Hedge Funds Weigh In On HEICO

Several hedge funds have recently made changes to their positions in HEI. Andra AP fonden acquired a new position in shares of HEICO in the 2nd quarter valued at $45,000. Center for Financial Planning Inc. acquired a new position in shares of HEICO in the 2nd quarter valued at $52,000. American National Bank acquired a new position in shares of HEICO in the 2nd quarter valued at $66,000. Strategic Financial Concepts LLC acquired a new position in shares of HEICO in the 2nd quarter valued at $67,000. Finally, FSC Wealth Advisors LLC acquired a new position in shares of HEICO in the 2nd quarter valued at $73,000. 27.12% of the stock is owned by institutional investors and hedge funds.

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.