HEICO (NYSE:HEI) Sets New 1-Year High – Time to Buy?

13 Nov 2024, 21:39 by Michael Walen · The Markets Daily

Shares of HEICO Co. (NYSE:HEI – Get Free Report) hit a new 52-week high on Wednesday . The stock traded as high as $270.95 and last traded at $270.23, with a volume of 157201 shares trading hands. The stock had previously closed at $263.52.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Bank of America lifted their target price on HEICO from $250.00 to $285.00 and gave the company a “buy” rating in a research note on Thursday, September 19th. Morgan Stanley lifted their target price on HEICO from $245.00 to $265.00 and gave the company an “equal weight” rating in a research note on Friday, October 18th. Deutsche Bank Aktiengesellschaft lifted their target price on HEICO from $235.00 to $271.00 and gave the company a “buy” rating in a research note on Wednesday, September 4th. Truist Financial raised their price target on HEICO from $264.00 to $282.00 and gave the company a “buy” rating in a report on Friday, October 18th. Finally, Barclays began coverage on HEICO in a report on Monday, August 19th. They issued an “equal weight” rating and a $250.00 price target for the company. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $270.70.

Check Out Our Latest Stock Report on HEI

HEICO Stock Performance

The company has a market capitalization of $37.97 billion, a price-to-earnings ratio of 79.64, a PEG ratio of 3.20 and a beta of 1.23. The stock has a fifty day moving average price of $258.29 and a two-hundred day moving average price of $238.05. 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 – Get Free Report) last released its quarterly earnings results on Monday, August 26th. The aerospace company reported $0.97 earnings per share for the quarter, topping analysts’ consensus estimates of $0.92 by $0.05. HEICO had a return on equity of 14.51% and a net margin of 12.64%. The company had revenue of $992.20 million during the quarter, compared to analysts’ expectations of $995.34 million. During the same period in the previous year, the firm posted $0.77 earnings per share. The business’s revenue for the quarter was up 37.3% compared to the same quarter last year. As a group, analysts forecast that HEICO Co. will post 3.65 EPS for the current fiscal year.

Insider Transactions at HEICO

In other HEICO news, Director Alan Schriesheim acquired 724 shares of the stock in a transaction dated Friday, October 18th. The stock was acquired at an average price of $262.94 per share, with a total value of $190,368.56. Following the completion of the transaction, the director now directly owns 174,878 shares in the company, valued at approximately $45,982,421.32. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, insider Victor H. Mendelson purchased 726 shares of the stock in a transaction on Friday, October 18th. The stock was purchased at an average price of $262.94 per share, with a total value of $190,894.44. Following the completion of the transaction, the insider now owns 1,234,950 shares in the company, valued at approximately $324,717,753. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Alan Schriesheim purchased 724 shares of the stock in a transaction on Friday, October 18th. The shares were purchased at an average cost of $262.94 per share, with a total value of $190,368.56. Following the transaction, the director now owns 174,878 shares of the company’s stock, valued at $45,982,421.32. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders purchased a total of 2,650 shares of company stock valued at $691,718 over the last three months. 8.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. AGF Management Ltd. lifted its stake in shares of HEICO by 61.7% during the second 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 in the last quarter. EULAV Asset Management lifted its stake in shares of HEICO by 5.0% during the third quarter. EULAV Asset Management now owns 402,193 shares of the aerospace company’s stock worth $105,165,000 after purchasing an additional 19,200 shares in the last quarter. TCW Group Inc. lifted its stake in shares of HEICO by 3.0% in the second quarter. TCW Group Inc. now owns 200,008 shares of the aerospace company’s stock worth $44,724,000 after acquiring an additional 5,779 shares in the last quarter. Driehaus Capital Management LLC lifted 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 worth $43,357,000 after acquiring an additional 77,067 shares in the last quarter. Finally, Vantage Investment Partners LLC lifted its stake in shares of HEICO by 1.4% in the third quarter. Vantage Investment Partners LLC now owns 122,430 shares of the aerospace company’s stock worth $32,013,000 after acquiring an additional 1,717 shares in the last quarter. Institutional investors and hedge funds own 27.12% of the company’s stock.

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