Heico (NYSE:HEI) Stock Rating Reaffirmed by Morgan Stanley

Heico (NYSE:HEI)‘s stock had its “neutral” rating reaffirmed by equities researchers at Morgan Stanley in a research report issued to clients and investors on Friday, Stock Target Advisor reports. They currently have a $77.00 price objective on the aerospace company’s stock. Morgan Stanley’s price objective would suggest a potential downside of 36.72% from the stock’s current price.

Several other research firms also recently commented on HEI. Barclays reissued a “neutral” rating and set a $72.00 price objective on shares of Heico in a report on Thursday, October 17th. DZ Bank reissued a “buy” rating on shares of Heico in a report on Friday. Robert W. Baird increased their price objective on shares of Heico from $125.00 to $170.00 and gave the company an “outperform” rating in a report on Tuesday, August 13th. Independent Research reissued a “neutral” rating and set a $73.00 price objective on shares of Heico in a report on Friday. Finally, JPMorgan Chase & Co. reissued a “buy” rating and set a $76.00 price objective on shares of Heico in a report on Tuesday, October 22nd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $110.08.

HEI opened at $121.69 on Friday. The firm has a 50-day simple moving average of $122.85 and a two-hundred day simple moving average of $126.18. Heico has a 52 week low of $71.47 and a 52 week high of $147.93. The company has a market capitalization of $16.38 billion, a PE ratio of 67.23, a price-to-earnings-growth ratio of 3.44 and a beta of 0.57. The company has a quick ratio of 1.44, a current ratio of 2.98 and a debt-to-equity ratio of 0.39.

Heico (NYSE:HEI) last released its quarterly earnings data on Tuesday, August 27th. The aerospace company reported $0.59 EPS for the quarter, beating the consensus estimate of $0.53 by $0.06. Heico had a net margin of 15.55% and a return on equity of 18.58%. The business had revenue of $532.32 million during the quarter, compared to the consensus estimate of $510.67 million. During the same quarter in the prior year, the firm earned $0.49 EPS. The business’s revenue was up 14.3% on a year-over-year basis. As a group, sell-side analysts expect that Heico will post 2.31 earnings per share for the current year.

In other news, insider Eric A. Mendelson acquired 949 shares of the firm’s stock in a transaction on Tuesday, October 29th. The stock was acquired at an average price of $120.70 per share, with a total value of $114,544.30. Following the completion of the purchase, the insider now directly owns 1,198,939 shares in the company, valued at $144,711,937.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Frank J. Schwitter acquired 1,210 shares of the firm’s stock in a transaction on Monday, October 28th. The stock was purchased at an average cost of $94.82 per share, with a total value of $114,732.20. Following the purchase, the director now owns 1,313 shares of the company’s stock, valued at $124,498.66. The disclosure for this purchase can be found here. 9.23% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in HEI. Thoroughbred Financial Services LLC lifted its stake in Heico by 10,711.5% in the second quarter. Thoroughbred Financial Services LLC now owns 329,858 shares of the aerospace company’s stock worth $32,986,000 after purchasing an additional 326,807 shares during the last quarter. AXA bought a new stake in Heico in the second quarter worth about $24,835,000. AQR Capital Management LLC lifted its stake in Heico by 1,441.3% in the second quarter. AQR Capital Management LLC now owns 173,201 shares of the aerospace company’s stock worth $23,176,000 after purchasing an additional 161,964 shares during the last quarter. Bogle Investment Management L P DE bought a new stake in Heico in the second quarter worth about $11,271,000. Finally, First Trust Advisors LP lifted its stake in Heico by 49.7% in the second quarter. First Trust Advisors LP now owns 231,181 shares of the aerospace company’s stock worth $30,934,000 after purchasing an additional 76,797 shares during the last quarter. 25.56% of the stock is owned by institutional investors and hedge funds.

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. The company's Flight Support Group segment provides jet engine and aircraft component replacement parts; thermal insulation blankets and parts; renewable/reusable insulation systems; and specialty components.

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Analyst Recommendations for Heico (NYSE:HEI)

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