Wells Fargo & Company Initiates Coverage on HEICO (NYSE:HEI)

Research analysts at Wells Fargo & Company started coverage on shares of HEICO (NYSE:HEI) in a report issued on Tuesday, MarketBeat Ratings reports. The firm set an “equal weight” rating and a $244.00 price target on the aerospace company’s stock. Wells Fargo & Company‘s target price points to a potential downside of 1.49% from the stock’s current price.

A number of other research firms have also weighed in on HEI. Truist Financial raised their target price on HEICO from $282.00 to $294.00 and gave the company a “buy” rating in a report on Wednesday, March 5th. Deutsche Bank Aktiengesellschaft cut their price objective 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. William Blair restated an “outperform” rating on shares of HEICO in a report on Tuesday, March 25th. Finally, KeyCorp started coverage on shares of HEICO in a research note on Thursday, January 16th. They issued a “sector weight” rating for the company. Five research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $268.91.

HEICO Stock Performance

NYSE HEI opened at $247.68 on Tuesday. The company has a market cap of $34.41 billion, a P/E ratio of 67.67, a PEG ratio of 3.10 and a beta of 1.07. The company has a fifty day simple moving average of $249.73 and a 200 day simple moving average of $251.00. The company has a current ratio of 3.11, a quick ratio of 1.34 and a debt-to-equity ratio of 0.60. HEICO has a 12-month low of $195.31 and a 12-month high of $283.60.

HEICO (NYSE:HEI) last issued 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 net margin of 13.33% and a return on equity of 14.63%. The firm had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $983.10 million. Sell-side analysts predict that HEICO will post 4.2 earnings per share for the current fiscal year.

Hedge Funds Weigh In On HEICO

Several institutional investors and hedge funds have recently bought and sold shares of the company. West Oak Capital LLC lifted its position in shares of HEICO by 2,400.0% during the 4th quarter. West Oak Capital LLC now owns 2,750 shares of the aerospace company’s stock valued at $654,000 after buying an additional 2,640 shares during the last quarter. Fortress Financial Solutions LLC bought a new stake in HEICO in the 4th quarter valued at about $263,000. Hennion & Walsh Asset Management Inc. lifted its holdings in HEICO by 43.9% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 4,444 shares of the aerospace company’s stock valued at $1,057,000 after purchasing an additional 1,355 shares during the last quarter. EntryPoint Capital LLC purchased a new position in shares of HEICO in the fourth quarter worth about $220,000. Finally, Fisher Asset Management LLC increased its stake in shares of HEICO by 19.1% in the fourth quarter. Fisher Asset Management LLC now owns 415,542 shares of the aerospace company’s stock worth $98,791,000 after purchasing an additional 66,583 shares in the last quarter. 27.12% of the stock is 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.