HEICO (NYSE:HEI) Reaches New 1-Year High – Should You Buy?

HEICO Co. (NYSE:HEI)’s share price hit a new 52-week high during trading on Thursday . The stock traded as high as $281.97 and last traded at $279.26, with a volume of 93070 shares changing hands. The stock had previously closed at $277.42.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on HEI. Deutsche Bank Aktiengesellschaft increased their target price on HEICO from $235.00 to $271.00 and gave the stock a “buy” rating in a research report on Wednesday, September 4th. Barclays started coverage on shares of HEICO in a research report on Monday, August 19th. They set an “equal weight” rating and a $250.00 price objective on the stock. Morgan Stanley upped their target price on shares of HEICO from $245.00 to $265.00 and gave the stock an “equal weight” rating in a research report on Friday, October 18th. Bank of America lifted their price target on shares of HEICO from $250.00 to $285.00 and gave the company a “buy” rating in a report on Thursday, September 19th. Finally, Truist Financial increased their price objective on shares of HEICO from $264.00 to $282.00 and gave the company a “buy” rating in a report on Friday, October 18th. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $270.70.

HEICO Stock Up 0.6 %

The company has a quick ratio of 1.47, a current ratio of 3.30 and a debt-to-equity ratio of 0.63. The company has a 50 day simple moving average of $261.57 and a two-hundred day simple moving average of $241.28. The company has a market capitalization of $38.69 billion, a P/E ratio of 81.86, a PEG ratio of 3.36 and a beta of 1.23.

HEICO (NYSE:HEI) last released its earnings results on Monday, August 26th. The aerospace company reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.05. The firm had revenue of $992.20 million for the quarter, compared to the consensus estimate of $995.34 million. HEICO had a return on equity of 14.51% and a net margin of 12.64%. The company’s revenue for the quarter was up 37.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.77 EPS. As a group, equities analysts predict that HEICO Co. will post 3.65 EPS for the current year.

Insider Transactions at HEICO

In other HEICO news, CEO Laurans A. Mendelson bought 725 shares of HEICO stock in a transaction on Friday, October 18th. The shares were acquired at an average price of $262.94 per share, for a total transaction of $190,631.50. Following the completion of the purchase, the chief executive officer now directly owns 929,984 shares in the company, valued at approximately $244,529,992.96. This trade represents a 0.08 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Alan Schriesheim sold 332 shares of HEICO stock in a transaction on Monday, October 7th. The stock was sold at an average price of $201.63, for a total value of $66,941.16. The disclosure for this sale can be found here. In the last quarter, insiders bought 2,650 shares of company stock worth $691,718. 8.10% of the stock is currently owned by insiders.

Institutional Trading of HEICO

Large investors have recently modified their holdings of the company. Andra AP fonden bought a new position in HEICO in the second quarter worth approximately $45,000. Center for Financial Planning Inc. bought a new stake in HEICO during the second quarter valued at about $52,000. American National Bank purchased a new position in HEICO in the second quarter valued at about $66,000. Strategic Financial Concepts LLC purchased a new position in shares of HEICO in the 2nd quarter worth approximately $67,000. Finally, FSC Wealth Advisors LLC purchased a new stake in HEICO during the second quarter valued at approximately $73,000. Hedge funds and other institutional investors own 27.12% of the company’s stock.

HEICO Company Profile

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.