Heico (NYSE:HEI) Upgraded to Hold at Wells Fargo & Company

Heico (NYSE:HEI) was upgraded by stock analysts at Wells Fargo & Company to a “hold” rating in a research note issued on Tuesday,Zacks.com reports.

A number of other research firms have also recently issued reports on HEI. Citigroup restated a “buy” rating and set a $415.00 target price (up from $367.00) on shares of Heico in a research note on Tuesday, January 13th. Wall Street Zen cut shares of Heico from a “buy” rating to a “hold” rating in a research note on Sunday, March 8th. Truist Financial boosted their price objective on shares of Heico from $366.00 to $391.00 and gave the company a “buy” rating in a report on Tuesday, December 23rd. UBS Group reaffirmed a “neutral” rating and set a $371.00 target price (up from $359.00) on shares of Heico in a report on Monday, December 22nd. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Heico in a research report on Monday, December 29th. Ten equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $365.29.

Heico Stock Up 0.6%

HEI stock opened at $275.74 on Tuesday. Heico has a 1-year low of $229.07 and a 1-year high of $361.69. The business’s 50 day simple moving average is $314.11 and its 200 day simple moving average is $319.17. The company has a current ratio of 3.06, a quick ratio of 1.41 and a debt-to-equity ratio of 0.55. The firm has a market capitalization of $38.47 billion, a PE ratio of 54.49, a PEG ratio of 3.36 and a beta of 1.01.

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

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in HEI. IFC & Insurance Marketing Inc. bought a new position in shares of Heico in the 4th quarter valued at $26,000. Westside Investment Management Inc. grew its stake in shares of Heico by 100.0% in the 3rd quarter. Westside Investment Management Inc. now owns 86 shares of the aerospace company’s stock valued at $28,000 after buying an additional 43 shares during the period. CBIZ Investment Advisory Services LLC raised its position in shares of Heico by 1,000.0% during the fourth quarter. CBIZ Investment Advisory Services LLC now owns 88 shares of the aerospace company’s stock worth $28,000 after purchasing an additional 80 shares during the period. Greykasell Wealth Strategies Inc. bought a new stake in Heico during the 3rd quarter valued at $29,000. Finally, Hazlett Burt & Watson Inc. acquired a new position in Heico during the third quarter worth $31,000. 27.12% of the stock is currently owned by institutional investors and hedge funds.

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.