Citigroup Has Lowered Expectations for Heico (NYSE:HEI) Stock Price

Heico (NYSE:HEI) had its price objective reduced by equities researchers at Citigroup from $400.00 to $323.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the aerospace company’s stock. Citigroup’s price objective points to a potential upside of 18.88% from the company’s previous close.

Several other equities analysts have also issued reports on HEI. Truist Financial boosted their target price on shares of Heico from $366.00 to $391.00 and gave the company a “buy” rating in a report on Tuesday, December 23rd. BNP Paribas Exane upgraded Heico from a “neutral” rating to an “outperform” rating in a report on Friday, February 27th. UBS Group reissued a “neutral” rating and issued a $371.00 price objective (up from $359.00) on shares of Heico in a research report on Monday, December 22nd. Stifel Nicolaus set a $370.00 price objective on Heico and gave the company a “buy” rating in a research note on Monday, December 22nd. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Heico in a research report on Monday, December 29th. Ten investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $358.71.

Heico Stock Performance

NYSE:HEI opened at $271.70 on Thursday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.41 and a current ratio of 3.06. Heico has a fifty-two week low of $229.07 and a fifty-two week high of $361.69. The company has a 50 day simple moving average of $311.53 and a two-hundred day simple moving average of $318.48. The company has a market capitalization of $37.91 billion, a PE ratio of 53.70, a P/E/G ratio of 3.33 and a beta of 1.07.

Heico (NYSE:HEI) last issued its quarterly earnings results on Wednesday, February 25th. The aerospace company reported $1.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.26 by $0.09. Heico had a net margin of 15.38% and a return on equity of 16.57%. The firm had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.17 billion. During the same quarter in the previous year, the company earned $1.20 EPS. The company’s revenue for the quarter was up 14.4% on a year-over-year basis. Research analysts anticipate that Heico will post 4.2 earnings per share for the current year.

Institutional Investors Weigh In On Heico

Hedge funds and other institutional investors have recently bought and sold shares of the stock. American Century Companies Inc. boosted its position in shares of Heico by 45.7% during the 3rd quarter. American Century Companies Inc. now owns 769,704 shares of the aerospace company’s stock worth $248,476,000 after purchasing an additional 241,559 shares in the last quarter. Munro Partners bought a new stake in Heico in the 2nd quarter valued at about $59,720,000. CI Investments Inc. raised its stake in Heico by 40.0% during the 4th quarter. CI Investments Inc. now owns 164,036 shares of the aerospace company’s stock worth $53,080,000 after buying an additional 46,846 shares during the period. Balyasny Asset Management L.P. raised its stake in Heico by 263.2% during the 3rd quarter. Balyasny Asset Management L.P. now owns 60,469 shares of the aerospace company’s stock worth $19,521,000 after buying an additional 43,821 shares during the period. Finally, Fisher Asset Management LLC boosted its holdings in Heico by 12.1% in the fourth quarter. Fisher Asset Management LLC now owns 326,386 shares of the aerospace company’s stock worth $105,615,000 after acquiring an additional 35,288 shares in the last quarter. 27.12% of the stock is owned by 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.