Heico (NYSE:HEI) Releases Quarterly Earnings Results, Beats Estimates By $0.33 EPS

Heico (NYSE:HEI) issued its quarterly earnings results on Wednesday. The aerospace company reported $1.66 earnings per share for the quarter, topping the consensus estimate of $1.33 by $0.33, Zacks reports. Heico had a net margin of 15.38% and a return on equity of 16.57%.

Heico Price Performance

Shares of HEI traded up $1.47 during trading hours on Wednesday, reaching $310.33. 787,164 shares of the stock traded hands, compared to its average volume of 648,909. The company has a current ratio of 3.06, a quick ratio of 1.41 and a debt-to-equity ratio of 0.55. Heico has a 52-week low of $256.11 and a 52-week high of $361.69. The company’s 50-day moving average price is $283.99 and its two-hundred day moving average price is $311.25. The company has a market cap of $43.30 billion, a P/E ratio of 61.33, a price-to-earnings-growth ratio of 3.69 and a beta of 0.95.

Insider Buying and Selling at Heico

In related news, Director Julie Neitzel sold 676 shares of Heico stock in a transaction on Wednesday, April 15th. The shares were sold at an average price of $223.00, for a total transaction of $150,748.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 4.86% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of HEI. IFC & Insurance Marketing Inc. bought a new stake in Heico in the 4th quarter valued at $26,000. Birchwood Financial Partners Inc. bought a new stake in Heico in the 4th quarter valued at $32,000. Miller Capital Partners Inc. bought a new stake in Heico in the 4th quarter valued at $70,000. Greenline Wealth Management LLC bought a new stake in Heico in the 4th quarter valued at $118,000. Finally, Aster Capital Management DIFC Ltd bought a new stake in Heico in the 4th quarter valued at $118,000. Hedge funds and other institutional investors own 27.12% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on HEI. Truist Financial upgraded shares of Heico to a “strong-buy” rating in a research note on Friday, May 1st. Wells Fargo & Company began coverage on shares of Heico in a research note on Wednesday, April 1st. They set an “equal weight” rating and a $290.00 price target on the stock. Citigroup dropped their price target on shares of Heico from $400.00 to $323.00 and set a “buy” rating on the stock in a research note on Thursday, April 2nd. Rothschild & Co Redburn set a $360.00 price target on shares of Heico and gave the stock a “buy” rating in a research note on Wednesday, May 13th. Finally, Jefferies Financial Group set a $375.00 target price on shares of Heico in a research note on Sunday. Two analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $359.81.

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.