HEICO (NYSE:HEI) Reaches New 12-Month High – Should You Buy?

HEICO Co. (NYSE:HEI) shares 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. The stock had previously closed at $277.42.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Morgan Stanley lifted their target price on HEICO from $245.00 to $265.00 and gave the stock an “equal weight” rating in a research report on Friday, October 18th. Deutsche Bank Aktiengesellschaft lifted 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. UBS Group started coverage on HEICO in a research report on Tuesday, October 15th. They set a “neutral” rating and a $277.00 price objective for the company. Benchmark reiterated a “buy” rating and set a $245.00 price target on shares of HEICO in a research report on Tuesday, August 27th. Finally, Truist Financial boosted their price target on HEICO from $264.00 to $282.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, HEICO currently has a consensus rating of “Moderate Buy” and a consensus price target of $270.70.

HEICO Stock Up 0.2 %

The business has a 50-day moving average price of $260.75 and a 200-day moving average price of $240.56. The company has a market capitalization of $38.53 billion, a price-to-earnings ratio of 81.33, a price-to-earnings-growth ratio of 3.31 and a beta of 1.23. The company has a quick ratio of 1.47, a current ratio of 3.30 and a debt-to-equity ratio of 0.63.

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

Insider Buying and Selling at HEICO

In related news, CEO Laurans A. Mendelson purchased 725 shares of HEICO stock in a transaction dated Friday, October 18th. The shares were acquired at an average cost of $262.94 per share, for a total transaction of $190,631.50. Following the transaction, the chief executive officer now directly owns 929,984 shares of the company’s stock, valued at approximately $244,529,992.96. This trade represents a 0.08 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Alan Schriesheim purchased 724 shares of HEICO stock in a transaction dated Friday, October 18th. The stock was bought at an average price of $262.94 per share, for a total transaction of $190,368.56. Following the completion of the transaction, the director now directly owns 174,878 shares in the company, valued at $45,982,421.32. The trade was a 0.42 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 2,650 shares of company stock worth $691,718. Insiders own 8.10% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. AGF Management Ltd. boosted its position in shares of HEICO by 61.7% in the 2nd quarter. AGF Management Ltd. now owns 949,945 shares of the aerospace company’s stock worth $212,417,000 after purchasing an additional 362,625 shares during the last quarter. EULAV Asset Management raised its stake in HEICO by 5.0% during the 3rd quarter. EULAV Asset Management now owns 402,193 shares of the aerospace company’s stock worth $105,165,000 after buying an additional 19,200 shares during the period. Two Sigma Advisers LP raised its stake in HEICO by 3.7% during the 3rd quarter. Two Sigma Advisers LP now owns 362,878 shares of the aerospace company’s stock worth $94,885,000 after buying an additional 13,100 shares during the period. TCW Group Inc. raised its stake in HEICO by 3.0% during the 2nd quarter. TCW Group Inc. now owns 200,008 shares of the aerospace company’s stock worth $44,724,000 after buying an additional 5,779 shares during the period. Finally, Driehaus Capital Management LLC raised its stake in HEICO by 66.0% during the 2nd quarter. Driehaus Capital Management LLC now owns 193,895 shares of the aerospace company’s stock worth $43,357,000 after buying an additional 77,067 shares during the period. 27.12% of the stock is currently owned by institutional investors.

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.