HEICO (NYSE:HEI) Reaches New 1-Year High After Analyst Upgrade

Shares of HEICO Co. (NYSE:HEI - Get Free Report) hit a new 52-week high during trading on Thursday after Bank of America raised their price target on the stock from $250.00 to $285.00. Bank of America currently has a buy rating on the stock. HEICO traded as high as $264.30 and last traded at $264.07, with a volume of 52150 shares trading hands. The stock had previously closed at $258.82.

Several other analysts have also recently commented on the stock. Benchmark reissued a "buy" rating and set a $245.00 price target on shares of HEICO in a research note on Tuesday, August 27th. Robert W. Baird lifted their target price on HEICO from $243.00 to $280.00 and gave the company an "outperform" rating in a research note on Wednesday, August 28th. Truist Financial upped their price target on HEICO from $248.00 to $264.00 and gave the company a "buy" rating in a research note on Wednesday, August 28th. Deutsche Bank Aktiengesellschaft increased their target price on shares of HEICO from $235.00 to $271.00 and gave the stock a "buy" rating in a report on Wednesday, September 4th. Finally, Morgan Stanley raised shares of HEICO from an "underweight" rating to an "equal weight" rating and lifted their price target for the stock from $178.00 to $225.00 in a research report on Tuesday, June 4th. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, HEICO currently has an average rating of "Moderate Buy" and an average price target of $263.56.

Insider Buying and Selling

In related news, Director Frank J. Schwitter bought 475 shares of HEICO stock in a transaction that occurred on Tuesday, September 3rd. The stock was purchased at an average cost of $252.26 per share, with a total value of $119,823.50. Following the purchase, the director now owns 1,730 shares in the company, valued at $436,409.80. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, Director Frank J. Schwitter bought 475 shares of the company's stock in a transaction that occurred on Tuesday, September 3rd. The shares were acquired at an average price of $252.26 per share, with a total value of $119,823.50. Following the transaction, the director now owns 1,730 shares in the company, valued at $436,409.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Eric A. Mendelson sold 20,000 shares of the company's stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $186.09, for a total value of $3,721,800.00. Following the transaction, the insider now directly owns 148,891 shares of the company's stock, valued at approximately $27,707,126.19. The disclosure for this sale can be found here. Insiders have sold a total of 85,206 shares of company stock worth $15,571,927 over the last ninety days. Company insiders own 8.10% of the company's stock.

Institutional Investors Weigh In On HEICO

A number of institutional investors and hedge funds have recently modified their holdings of HEI. Capital World Investors boosted its holdings in shares of HEICO by 10.5% during the fourth quarter. Capital World Investors now owns 3,276,326 shares of the aerospace company's stock worth $586,036,000 after acquiring an additional 311,304 shares during the period. AGF Management Ltd. boosted its stake in HEICO by 61.7% in the 2nd quarter. AGF Management Ltd. now owns 949,945 shares of the aerospace company's stock valued at $212,417,000 after purchasing an additional 362,625 shares during the period. EULAV Asset Management grew its holdings in HEICO by 23.4% in the 1st quarter. EULAV Asset Management now owns 352,093 shares of the aerospace company's stock valued at $67,250,000 after buying an additional 66,800 shares in the last quarter. TCW Group Inc. raised its stake in HEICO by 3.0% in the 2nd quarter. TCW Group Inc. now owns 200,008 shares of the aerospace company's stock worth $44,724,000 after purchasing an additional 5,779 shares in the last quarter. Finally, Driehaus Capital Management LLC boosted its stake in shares of HEICO by 66.0% in the second quarter. Driehaus Capital Management LLC now owns 193,895 shares of the aerospace company's stock valued at $43,357,000 after buying an additional 77,067 shares during the period. 27.12% of the stock is owned by institutional investors.

HEICO Trading Up 2.1 %

The company has a current ratio of 3.30, a quick ratio of 1.47 and a debt-to-equity ratio of 0.63. The stock has a market capitalization of $36.61 billion, a P/E ratio of 83.09, a P/E/G ratio of 3.61 and a beta of 1.22. The business has a 50-day moving average price of $241.01 and a two-hundred day moving average price of $219.54.

HEICO (NYSE:HEI - Get Free Report) last announced its quarterly earnings data on Monday, August 26th. The aerospace company reported $0.97 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.92 by $0.05. The business had revenue of $992.20 million for the quarter, compared to analysts' expectations of $995.34 million. HEICO had a net margin of 12.64% and a return on equity of 14.51%. The firm's quarterly revenue was up 37.3% compared to the same quarter last year. During the same period last year, the firm posted $0.77 earnings per share. On average, analysts expect that HEICO Co. will post 3.63 EPS for the current fiscal year.

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.