HEICO (NYSE:HEI) Shares Gap Down – What’s Next?

HEICO Co. (NYSE:HEI)’s share price gapped down prior to trading on Wednesday . The stock had previously closed at $259.80, but opened at $250.44. HEICO shares last traded at $242.15, with a volume of 402,018 shares traded.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. UBS Group started coverage on HEICO in a research note on Tuesday, October 15th. They set a “neutral” rating and a $277.00 price objective for the company. Robert W. Baird boosted their price target on shares of HEICO from $243.00 to $280.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 28th. Bank of America raised their price objective on shares of HEICO from $250.00 to $285.00 and gave the company a “buy” rating in a research report on Thursday, September 19th. Benchmark reaffirmed a “buy” rating and set a $245.00 price target on shares of HEICO in a research note on Tuesday, August 27th. Finally, Morgan Stanley increased their price objective on HEICO from $245.00 to $265.00 and gave the company an “equal weight” rating in a research report on Friday, October 18th. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $270.70.

HEICO Stock Performance

The company has a current ratio of 3.30, a quick ratio of 1.47 and a debt-to-equity ratio of 0.63. The business’s fifty day simple moving average is $262.66 and its 200-day simple moving average is $247.81. The firm has a market cap of $32.79 billion, a P/E ratio of 70.49, a price-to-earnings-growth ratio of 3.14 and a beta of 1.24.

HEICO (NYSE:HEI) last issued its quarterly earnings results on Tuesday, December 17th. The aerospace company reported $0.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.97 by $0.02. HEICO had a net margin of 12.64% and a return on equity of 14.51%. The company had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $1.03 billion. During the same period last year, the company posted $0.74 EPS. HEICO’s revenue was up 8.2% on a year-over-year basis. As a group, sell-side analysts expect that HEICO Co. will post 3.64 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Laurans A. Mendelson purchased 725 shares of the firm’s stock in a transaction on Friday, October 18th. The stock was acquired at an average cost of $262.94 per share, with a total value of $190,631.50. Following the completion of the transaction, the chief executive officer now owns 929,984 shares in the company, valued at $244,529,992.96. This represents a 0.08 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Alan Schriesheim sold 332 shares of the company’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $201.63, for a total transaction of $66,941.16. The disclosure for this sale can be found here. In the last three months, insiders have purchased 2,175 shares of company stock valued at $571,895. 8.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On HEICO

A number of institutional investors have recently modified their holdings of the business. Morse Asset Management Inc raised its holdings in shares of HEICO by 0.6% in the 3rd quarter. Morse Asset Management Inc now owns 6,207 shares of the aerospace company’s stock valued at $1,623,000 after buying an additional 38 shares during the period. Centaurus Financial Inc. boosted its stake in shares of HEICO by 8.9% in the third quarter. Centaurus Financial Inc. now owns 731 shares of the aerospace company’s stock valued at $191,000 after buying an additional 60 shares in the last quarter. Moody Lynn & Lieberson LLC raised its position in HEICO by 1.8% during the third quarter. Moody Lynn & Lieberson LLC now owns 4,186 shares of the aerospace company’s stock worth $1,095,000 after acquiring an additional 73 shares during the last quarter. MGB Wealth Management LLC grew its stake in HEICO by 3.6% in the 3rd quarter. MGB Wealth Management LLC now owns 2,900 shares of the aerospace company’s stock worth $758,000 after acquiring an additional 100 shares during the period. Finally, Coldstream Capital Management Inc. lifted its holdings in shares of HEICO by 6.6% during the 3rd quarter. Coldstream Capital Management Inc. now owns 1,719 shares of the aerospace company’s stock worth $451,000 after acquiring an additional 106 shares during the period. 27.12% of the stock is currently owned by institutional investors and hedge funds.

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.