Truist Financial Forecasts Strong Price Appreciation for HEICO (NYSE:HEI) Stock

HEICO (NYSE:HEI) had its price target raised by research analysts at Truist Financial from $282.00 to $294.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the aerospace company’s stock. Truist Financial’s target price indicates a potential upside of 10.36% from the stock’s previous close.

Other equities analysts have also recently issued reports about the company. KeyCorp assumed coverage on HEICO in a report on Thursday, January 16th. They issued a “sector weight” rating for the company. Deutsche Bank Aktiengesellschaft reduced their target price on shares of HEICO from $271.00 to $266.00 and set a “buy” rating on the stock in a research report on Thursday, December 19th. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $271.40.

HEICO Stock Performance

Shares of NYSE:HEI traded up $0.92 on Wednesday, hitting $266.40. 164,422 shares of the company were exchanged, compared to its average volume of 598,997. The company’s 50 day moving average price is $234.94 and its two-hundred day moving average price is $250.28. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.34 and a current ratio of 3.11. The firm has a market capitalization of $36.98 billion, a price-to-earnings ratio of 72.82, a PEG ratio of 3.10 and a beta of 1.29. HEICO has a one year low of $182.47 and a one year high of $283.60.

HEICO (NYSE:HEI) last released its quarterly earnings data on Wednesday, February 26th. The aerospace company reported $1.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.93 by $0.27. HEICO had a return on equity of 14.63% and a net margin of 13.33%. The business had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $983.10 million. Research analysts expect that HEICO will post 4.2 earnings per share for the current year.

Institutional Trading of HEICO

Hedge funds have recently added to or reduced their stakes in the business. Robeco Institutional Asset Management B.V. increased its holdings in shares of HEICO by 79.2% in the third quarter. Robeco Institutional Asset Management B.V. now owns 10,662 shares of the aerospace company’s stock worth $2,788,000 after acquiring an additional 4,712 shares in the last quarter. TFB Advisors LLC bought a new position in HEICO in the third quarter valued at $333,000. SpiderRock Advisors LLC grew its holdings in shares of HEICO by 498.1% in the 3rd quarter. SpiderRock Advisors LLC now owns 15,490 shares of the aerospace company’s stock valued at $4,050,000 after acquiring an additional 12,900 shares in the last quarter. Vantage Investment Partners LLC grew its stake in HEICO by 1.4% in the third quarter. Vantage Investment Partners LLC now owns 122,430 shares of the aerospace company’s stock valued at $32,013,000 after purchasing an additional 1,717 shares in the last quarter. Finally, Rakuten Securities Inc. acquired a new position in shares of HEICO during the 3rd quarter worth approximately $81,000. Institutional investors and hedge funds 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.