Heico (NYSE:HEI) Shares Gap Down – Here’s What Happened

Heico Corporation (NYSE:HEI)’s share price gapped down before the market opened on Thursday . The stock had previously closed at $344.72, but opened at $312.67. Heico shares last traded at $300.4790, with a volume of 429,950 shares changing hands.

Analyst Ratings Changes

HEI has been the topic of several analyst reports. Truist Financial increased their target price on shares of Heico from $366.00 to $391.00 and gave the stock a “buy” rating in a research report on Tuesday, December 23rd. BNP Paribas Exane set a $330.00 price target on Heico in a research note on Tuesday, November 18th. Citigroup reissued a “buy” rating and issued a $415.00 price objective (up from $367.00) on shares of Heico in a research note on Tuesday, January 13th. Stifel Nicolaus set a $370.00 target price on Heico and gave the stock a “buy” rating in a report on Monday, December 22nd. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and set a $375.00 target price (up from $350.00) on shares of Heico in a research report on Monday, December 22nd. Ten equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $364.43.

Heico Stock Down 12.3%

The firm has a 50-day moving average of $337.49 and a two-hundred day moving average of $322.81. The firm has a market cap of $42.13 billion, a price-to-earnings ratio of 61.88, a PEG ratio of 3.87 and a beta of 1.01. The company has a current ratio of 2.83, a quick ratio of 1.28 and a debt-to-equity ratio of 0.49.

Heico (NYSE:HEI) last issued its quarterly earnings results on Wednesday, February 25th. The aerospace company reported $1.35 EPS for the quarter, topping the consensus estimate of $1.26 by $0.09. Heico had a return on equity of 16.80% and a net margin of 15.39%.The company had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.17 billion. During the same period in the previous year, the business posted $1.20 EPS. The company’s revenue for the quarter was up 14.4% on a year-over-year basis. As a group, sell-side analysts predict that Heico Corporation will post 4.2 earnings per share for the current fiscal year.

Heico Dividend Announcement

The business also recently announced a dividend, which was paid on Tuesday, January 20th. Investors of record on Monday, January 5th were paid a dividend of $0.12 per share. This represents a yield of 7.0%. The ex-dividend date was Monday, January 5th. Heico’s dividend payout ratio is presently 4.89%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in HEI. American Century Companies Inc. raised its position in shares of Heico by 45.7% during the third quarter. American Century Companies Inc. now owns 769,704 shares of the aerospace company’s stock valued at $248,476,000 after buying an additional 241,559 shares during the last quarter. Two Sigma Investments LP raised its holdings in Heico by 0.6% in the 3rd quarter. Two Sigma Investments LP now owns 558,661 shares of the aerospace company’s stock valued at $180,347,000 after acquiring an additional 3,166 shares in the last quarter. Fisher Asset Management LLC lifted its position in shares of Heico by 12.1% in the 4th 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 during the period. Munro Partners grew its holdings in shares of Heico by 44.2% during the 4th quarter. Munro Partners now owns 284,898 shares of the aerospace company’s stock worth $92,190,000 after purchasing an additional 87,265 shares in the last quarter. Finally, Dixon Mitchell Investment Counsel Inc. increased its position in shares of Heico by 1.2% during the third quarter. Dixon Mitchell Investment Counsel Inc. now owns 203,504 shares of the aerospace company’s stock valued at $65,695,000 after purchasing an additional 2,331 shares during the period. Institutional investors own 27.12% of the company’s stock.

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.