Heico Corporation (HEI) Sets New 52-Week High at $89.38
Heico Corporation (NYSE:HEI) hit a new 52-week high during trading on Thursday . The company traded as high as $89.38 and last traded at $89.38, with a volume of 184,451 shares. The stock had previously closed at $89.21.
A number of brokerages recently commented on HEI. Canaccord Genuity reaffirmed a “buy” rating and set a $91.00 price objective (up from $80.00) on shares of Heico Corporation in a research note on Thursday, August 10th. Zacks Investment Research cut Heico Corporation from a “buy” rating to a “hold” rating in a research note on Monday, September 18th. Seaport Global Securities began coverage on Heico Corporation in a research note on Tuesday, September 12th. They set a “neutral” rating and a $90.00 price objective for the company. BidaskClub cut Heico Corporation from a “strong-buy” rating to a “buy” rating in a research note on Friday, August 18th. Finally, Deutsche Bank AG cut Heico Corporation from a “buy” rating to a “hold” rating and lifted their price objective for the stock from $80.00 to $86.00 in a research note on Wednesday, August 16th. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $91.33.
The firm has a market capitalization of $7.64 billion, a PE ratio of 44.30 and a beta of 0.76. The stock’s 50-day moving average price is $84.62 and its 200-day moving average price is $75.51.
Heico Corporation (NYSE:HEI) last posted its quarterly earnings data on Wednesday, August 23rd. The aerospace company reported $0.53 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.52 by $0.01. Heico Corporation had a return on equity of 15.56% and a net margin of 12.04%. The firm had revenue of $391.50 million during the quarter, compared to analyst estimates of $390.55 million. During the same period last year, the company posted $0.62 EPS. The business’s quarterly revenue was up 9.9% on a year-over-year basis. Equities analysts predict that Heico Corporation will post $2.10 EPS for the current year.
In other news, VP Thomas S. Irwin sold 20,000 shares of Heico Corporation stock in a transaction dated Thursday, September 21st. The stock was sold at an average price of $76.28, for a total value of $1,525,600.00. Following the completion of the transaction, the vice president now directly owns 31,110 shares of the company’s stock, valued at approximately $2,373,070.80. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 9.76% of the company’s stock.
Several hedge funds have recently bought and sold shares of the company. Riverbridge Partners LLC raised its position in shares of Heico Corporation by 21.8% in the 2nd quarter. Riverbridge Partners LLC now owns 1,621,457 shares of the aerospace company’s stock worth $116,486,000 after acquiring an additional 290,014 shares in the last quarter. Fisher Asset Management LLC raised its position in shares of Heico Corporation by 20.7% in the 2nd quarter. Fisher Asset Management LLC now owns 1,170,462 shares of the aerospace company’s stock worth $84,086,000 after acquiring an additional 200,591 shares in the last quarter. PNC Financial Services Group Inc. raised its position in shares of Heico Corporation by 3.7% in the 2nd quarter. PNC Financial Services Group Inc. now owns 674,898 shares of the aerospace company’s stock worth $48,483,000 after acquiring an additional 24,299 shares in the last quarter. Ardevora Asset Management LLP raised its position in shares of Heico Corporation by 32.9% in the 2nd quarter. Ardevora Asset Management LLP now owns 524,323 shares of the aerospace company’s stock worth $37,667,000 after acquiring an additional 129,823 shares in the last quarter. Finally, First Trust Advisors LP raised its position in shares of Heico Corporation by 42.7% in the 2nd quarter. First Trust Advisors LP now owns 419,333 shares of the aerospace company’s stock worth $30,125,000 after acquiring an additional 125,544 shares in the last quarter. 26.41% of the stock is owned by hedge funds and other institutional investors.
Heico Corporation Company Profile
HEICO Corporation manufactures Federal Aviation Administration (FAA)-approved jet engine and aircraft component replacement parts, other than the original equipment manufacturers (OEMs) and their subcontractors. The Company also manufactures various types of electronic equipment for the aviation, medical, telecommunications and electronics industries.
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