HEICO (NYSE:HEI) Price Target Cut to $277.00 by Analysts at Truist Financial

HEICO (NYSE:HEI) had its price target reduced by Truist Financial from $294.00 to $277.00 in a research note released on Thursday,Benzinga reports. They currently have a buy rating on the aerospace company’s stock.

Several other equities research analysts have also commented on HEI. Deutsche Bank Aktiengesellschaft lowered their price target on shares of HEICO from $271.00 to $266.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. KeyCorp initiated coverage on HEICO in a report on Thursday, January 16th. They set a “sector weight” rating on the stock. William Blair reiterated an “outperform” rating on shares of HEICO in a research report on Tuesday, March 25th. Finally, Wells Fargo & Company started coverage on HEICO in a research report on Tuesday. They issued an “equal weight” rating and a $244.00 price objective on the stock. Five equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $267.36.

HEICO Trading Down 1.0 %

Shares of NYSE:HEI opened at $244.58 on Thursday. The company has a quick ratio of 1.34, a current ratio of 3.11 and a debt-to-equity ratio of 0.60. HEICO has a 52-week low of $196.38 and a 52-week high of $283.60. The stock has a market cap of $33.98 billion, a price-to-earnings ratio of 66.83, a PEG ratio of 3.10 and a beta of 1.07. The business has a 50-day moving average price of $249.94 and a 200-day moving average price of $250.89.

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

Institutional Investors Weigh In On HEICO

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Simon Quick Advisors LLC grew its position in shares of HEICO by 31.9% in the first quarter. Simon Quick Advisors LLC now owns 1,385 shares of the aerospace company’s stock valued at $370,000 after purchasing an additional 335 shares during the period. CX Institutional purchased a new position in HEICO in the 1st quarter valued at about $216,000. Atwood & Palmer Inc. acquired a new stake in HEICO in the 1st quarter worth about $80,000. SG Americas Securities LLC increased its stake in HEICO by 123.4% during the 1st quarter. SG Americas Securities LLC now owns 1,613 shares of the aerospace company’s stock worth $431,000 after buying an additional 891 shares in the last quarter. Finally, Harbor Capital Advisors Inc. acquired a new position in shares of HEICO during the first quarter valued at approximately $177,000. Hedge funds and other institutional investors 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.