Bank of America Increases HEICO (NYSE:HEI) Price Target to $285.00

HEICO (NYSE:HEI - Free Report) had its price target boosted by Bank of America from $250.00 to $285.00 in a research note published on Thursday, Benzinga reports. The brokerage currently has a buy rating on the aerospace company's stock.

HEI has been the subject of several other reports. Morgan Stanley raised HEICO from an underweight rating to an equal weight rating and increased their price target for the company from $178.00 to $225.00 in a research report on Tuesday, June 4th. Deutsche Bank Aktiengesellschaft increased their price target on HEICO from $235.00 to $271.00 and gave the company a buy rating in a research report on Wednesday, September 4th. Royal Bank of Canada increased their price target on HEICO from $250.00 to $272.00 and gave the company an outperform rating in a research report on Wednesday, August 28th. Barclays began coverage on HEICO in a research report on Monday, August 19th. They set an equal weight rating and a $250.00 price target for the company. Finally, Robert W. Baird upped their price objective on HEICO from $243.00 to $280.00 and gave the company an outperform rating in a research note on Wednesday, August 28th. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat.com, HEICO presently has an average rating of Moderate Buy and an average target price of $263.56.

HEICO Stock Up 2.1 %

Shares of HEI stock traded up $5.55 on Thursday, hitting $264.37. 288,560 shares of the stock were exchanged, compared to its average volume of 382,033. 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 firm has a market capitalization of $36.61 billion, a P/E ratio of 83.09, a price-to-earnings-growth ratio of 3.61 and a beta of 1.22. The business has a 50-day moving average of $241.01 and a 200 day moving average of $219.54. HEICO has a fifty-two week low of $155.42 and a fifty-two week high of $265.46.

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

Insider Transactions at HEICO

In other news, insider Eric A. Mendelson sold 2,832 shares of the stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $180.06, for a total transaction of $509,929.92. Following the transaction, the insider now owns 246,060 shares in the company, valued at $44,305,563.60. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other HEICO news, insider Eric A. Mendelson sold 53,510 shares of the firm's stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $182.02, for a total value of $9,739,890.20. Following the sale, the insider now owns 168,891 shares of the company's stock, valued at approximately $30,741,539.82. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Eric A. Mendelson sold 2,832 shares of the firm's stock in a transaction on Monday, June 24th. The shares were sold at an average price of $180.06, for a total value of $509,929.92. Following the completion of the sale, the insider now directly owns 246,060 shares in the company, valued at approximately $44,305,563.60. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 85,206 shares of company stock worth $15,571,927. Company insiders own 8.10% of the company's stock.

Institutional Investors Weigh In On HEICO

Large investors have recently modified their holdings of the business. AGF Management Ltd. lifted its holdings in HEICO by 61.7% during the 2nd quarter. AGF Management Ltd. now owns 949,945 shares of the aerospace company's stock worth $212,417,000 after buying an additional 362,625 shares during the period. Capital World Investors grew its stake in 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 purchasing an additional 311,304 shares during the period. Vantage Investment Partners LLC bought a new stake in HEICO in the second quarter worth approximately $26,993,000. Driehaus Capital Management LLC increased its holdings in HEICO by 66.0% in the second quarter. Driehaus Capital Management LLC now owns 193,895 shares of the aerospace company's stock worth $43,357,000 after purchasing an additional 77,067 shares in the last quarter. Finally, EULAV Asset Management lifted its stake in HEICO by 23.4% in the first 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 during the period. Institutional investors and hedge funds own 27.12% of the company's stock.

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.