HEICO (NYSE:HEI) Announces Earnings Results, Beats Expectations By $0.02 EPS

HEICO (NYSE:HEI - Get Free Report) issued its quarterly earnings data on Tuesday. The aerospace company reported $0.99 EPS for the quarter, topping the consensus estimate of $0.97 by $0.02, Zacks reports. HEICO had a net margin of 12.64% and a return on equity of 14.51%. The firm had revenue of $1.01 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same period in the prior year, the business posted $0.74 EPS. The business's revenue for the quarter was up 8.2% compared to the same quarter last year.

HEICO Stock Down 1.1 %

Shares of NYSE:HEI traded down $2.88 during trading hours on Tuesday, reaching $259.92. The stock had a trading volume of 933,692 shares, compared to its average volume of 389,817. HEICO has a 1 year low of $169.70 and a 1 year high of $283.60. The firm's 50 day moving average is $262.66 and its 200-day moving average is $247.81. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.47 and a current ratio of 3.30. The stock has a market capitalization of $36.02 billion, a price-to-earnings ratio of 76.22, a P/E/G ratio of 3.14 and a beta of 1.24.

Insider Buying and Selling at HEICO

In other HEICO news, Director Alan Schriesheim sold 332 shares of the stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $201.63, for a total value of $66,941.16. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Laurans A. Mendelson bought 725 shares of the company's stock in a transaction that occurred on Friday, October 18th. The stock was bought at an average cost of $262.94 per share, for a total transaction of $190,631.50. Following the completion of the transaction, the chief executive officer now directly owns 929,984 shares in the company, valued at approximately $244,529,992.96. The trade was a 0.08 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have bought 2,175 shares of company stock valued at $571,895. Insiders own 8.10% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently commented on HEI. Deutsche Bank Aktiengesellschaft upped their price objective on shares of HEICO from $235.00 to $271.00 and gave the stock a "buy" rating in a report on Wednesday, September 4th. Morgan Stanley upped their price objective on shares of HEICO from $245.00 to $265.00 and gave the stock an "equal weight" rating in a report on Friday, October 18th. Benchmark reaffirmed a "buy" rating and set a $245.00 target price on shares of HEICO in a research note on Tuesday, August 27th. Bank of America upped their target price on shares of HEICO from $250.00 to $285.00 and gave the stock a "buy" rating in a research note on Thursday, September 19th. Finally, Royal Bank of Canada upped their target price on shares of HEICO from $250.00 to $272.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 28th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $270.70.

About HEICO

HEICO Corporation, through its subsidiaries, designs, manufactures, and sells aerospace, defense, and electronic related products and services in the United States and internationally. Its Flight Support Group segment provides jet engine and aircraft component replacement parts; thermal insulation blankets and parts; renewable/reusable insulation systems; and specialty components.