Heico (NYSE:HEI) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Heico (NYSE:HEI) from a hold rating to a buy rating in a report published on Monday,Wall Street Zen reports.

Several other research firms also recently weighed in on HEI. Stifel Nicolaus set a $410.00 price target on Heico in a research note on Thursday, August 27th. UBS Group reiterated a “neutral” rating and set a $396.00 price objective (up from $382.00) on shares of Heico in a research report on Thursday, August 27th. Weiss Ratings upgraded shares of Heico from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, July 16th. Zacks Research raised shares of Heico from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, June 9th. Finally, Morgan Stanley set a $370.00 price target on shares of Heico in a report on Wednesday, July 15th. Three equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $395.71.

Heico Price Performance

Shares of Heico stock opened at $322.69 on Monday. The company has a market capitalization of $45.07 billion, a price-to-earnings ratio of 53.69, a PEG ratio of 3.17 and a beta of 1.04. The company has a quick ratio of 1.27, a current ratio of 2.72 and a debt-to-equity ratio of 0.51. The stock’s 50-day simple moving average is $353.38 and its 200-day simple moving average is $321.57. Heico has a 52 week low of $256.11 and a 52 week high of $376.86.

Heico (NYSE:HEI) last released its earnings results on Tuesday, August 25th. The aerospace company reported $1.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.51 by $0.16. The firm had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.36 billion. Heico had a return on equity of 18.00% and a net margin of 16.38%.The firm’s revenue was up 23.1% on a year-over-year basis. During the same quarter last year, the business posted $1.26 earnings per share. As a group, analysts expect that Heico will post 6.13 earnings per share for the current fiscal year.

Heico Dividend Announcement

The company also recently disclosed a dividend, which was paid on Wednesday, July 15th. Stockholders of record on Wednesday, July 1st were issued a dividend of $0.13 per share. This represents a dividend yield of 7.0%. The ex-dividend date of this dividend was Wednesday, July 1st. Heico’s dividend payout ratio is 4.33%.

Insider Activity at Heico

In other news, CAO Bradley K. Rowen sold 1,326 shares of the stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $241.63, for a total transaction of $320,401.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 4.86% of the company’s stock.

Institutional Investors Weigh In On Heico

Hedge funds have recently bought and sold shares of the business. Diamant Asset Management Inc. grew its stake in shares of Heico by 25,698.9% in the 1st quarter. Diamant Asset Management Inc. now owns 763,647 shares of the aerospace company’s stock worth $209,392,000 after buying an additional 760,687 shares in the last quarter. Weitz Investment Management Inc. bought a new position in shares of Heico in the 2nd quarter valued at about $52,737,000. Bank of New York Mellon Corp bought a new position in shares of Heico in the 2nd quarter valued at about $54,386,000. Freestone Grove Partners LP purchased a new position in Heico in the second quarter worth about $50,276,000. Finally, Munro Partners increased its stake in Heico by 44.2% during the fourth quarter. Munro Partners now owns 284,898 shares of the aerospace company’s stock worth $92,190,000 after acquiring an additional 87,265 shares during the last quarter. Hedge funds and other institutional investors own 27.12% of the company’s stock.

Heico Company Profile

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.