Truist Financial Forecasts Strong Price Appreciation for Heico (NYSE:HEI) Stock

Heico (NYSE:HEI) had its target price hoisted by investment analysts at Truist Financial from $323.00 to $352.00 in a research note issued on Friday,Benzinga reports. The firm currently has a “buy” rating on the aerospace company’s stock. Truist Financial’s target price indicates a potential upside of 11.87% from the company’s previous close.

Other equities analysts have also issued reports about the company. Wells Fargo & Company raised their target price on Heico from $244.00 to $278.00 and gave the company an “equal weight” rating in a report on Friday, May 30th. Bank of America lifted their price objective on Heico from $320.00 to $355.00 and gave the stock a “buy” rating in a research note on Thursday, July 3rd. Stifel Nicolaus set a $352.00 price objective on Heico and gave the stock a “buy” rating in a research note on Tuesday, June 24th. Barclays set a $280.00 price objective on Heico and gave the stock an “equal weight” rating in a research note on Monday, June 2nd. Finally, Morgan Stanley lifted their price objective on Heico from $270.00 to $305.00 and gave the stock an “equal weight” rating in a research note on Wednesday, June 4th. Five investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $299.18.

Heico Price Performance

NYSE HEI opened at $314.66 on Friday. Heico has a fifty-two week low of $216.68 and a fifty-two week high of $328.64. The stock’s 50-day moving average is $297.26 and its two-hundred day moving average is $262.75. The company has a debt-to-equity ratio of 0.56, a current ratio of 3.43 and a quick ratio of 1.56. The firm has a market cap of $43.77 billion, a P/E ratio of 73.52, a price-to-earnings-growth ratio of 3.95 and a beta of 1.08.

Heico (NYSE:HEI) last posted its earnings results on Tuesday, May 27th. The aerospace company reported $1.12 earnings per share for the quarter, beating the consensus estimate of $1.03 by $0.09. Heico had a return on equity of 15.88% and a net margin of 14.54%. The company had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.06 billion. During the same period last year, the company earned $0.88 earnings per share. The business’s revenue was up 14.9% compared to the same quarter last year. On average, analysts anticipate that Heico will post 4.2 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Heico news, Director Julie Neitzel sold 700 shares of Heico stock in a transaction that occurred on Thursday, April 24th. The stock was sold at an average price of $246.23, for a total transaction of $172,361.00. Following the sale, the director directly owned 418 shares of the company’s stock, valued at approximately $102,924.14. The trade was a 62.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Frank J. Schwitter sold 356 shares of Heico stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $299.10, for a total value of $106,479.60. Following the sale, the director directly owned 1,500 shares in the company, valued at $448,650. The trade was a 19.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 86,056 shares of company stock valued at $22,699,941 over the last three months. 9.55% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Heico

A number of institutional investors have recently added to or reduced their stakes in HEI. Ridgewood Investments LLC raised its stake in shares of Heico by 92.0% in the first quarter. Ridgewood Investments LLC now owns 96 shares of the aerospace company’s stock valued at $26,000 after acquiring an additional 46 shares during the last quarter. NBC Securities Inc. bought a new position in shares of Heico in the first quarter valued at approximately $27,000. Costello Asset Management INC bought a new position in shares of Heico in the first quarter valued at approximately $27,000. Banque Transatlantique SA bought a new position in shares of Heico in the fourth quarter valued at approximately $44,000. Finally, Caitong International Asset Management Co. Ltd raised its stake in shares of Heico by 17,800.0% in the first quarter. Caitong International Asset Management Co. Ltd now owns 179 shares of the aerospace company’s stock valued at $48,000 after acquiring an additional 178 shares during the last quarter. 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.