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

HEICO Co. (NYSE:HEI) shares 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 changing hands.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. Royal Bank of Canada boosted their target price on shares of HEICO from $250.00 to $272.00 and gave the company an “outperform” rating in a research note on Wednesday, August 28th. UBS Group started coverage on HEICO in a research report on Tuesday, October 15th. They set a “neutral” rating and a $277.00 price target on the stock. Truist Financial lifted their price target on shares of HEICO from $264.00 to $282.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. Morgan Stanley lifted their target price on shares of HEICO from $245.00 to $265.00 and gave the stock an “equal weight” rating in a research report on Friday, October 18th. Finally, Robert W. Baird raised their price target on shares of HEICO from $243.00 to $280.00 and gave the stock an “outperform” rating in a report on Wednesday, August 28th. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $270.70.

HEICO Price Performance

The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.47 and a current ratio of 3.30. The company has a fifty day moving average price of $262.66 and a two-hundred day moving average price of $247.81. The company has a market cap of $32.79 billion, a P/E ratio of 70.49, a PEG ratio of 3.14 and a beta of 1.24.

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

Insider Buying and Selling

In related news, insider Victor H. Mendelson bought 726 shares of the company’s stock in a transaction that occurred on Friday, October 18th. The shares were bought at an average price of $262.94 per share, for a total transaction of $190,894.44. Following the transaction, the insider now directly owns 1,234,950 shares of the company’s stock, valued at approximately $324,717,753. The trade was a 0.06 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Laurans A. Mendelson purchased 725 shares of the firm’s stock in a transaction on Friday, October 18th. The stock was bought at an average cost of $262.94 per share, with a total value of $190,631.50. Following the completion of the purchase, the chief executive officer now owns 929,984 shares of the company’s stock, valued at approximately $244,529,992.96. This represents a 0.08 % increase in their position. The disclosure for this purchase can be found here. Insiders have purchased a total of 2,175 shares of company stock valued at $571,895 over the last ninety days. 8.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On HEICO

Several institutional investors and hedge funds have recently added to or reduced their stakes in HEI. Andra AP fonden bought a new position in HEICO in the 2nd quarter valued at $45,000. American National Bank purchased a new stake in HEICO during the second quarter worth about $66,000. Strategic Financial Concepts LLC bought a new stake in HEICO in the second quarter worth about $67,000. Rakuten Securities Inc. purchased a new position in HEICO in the third quarter valued at about $81,000. Finally, Hantz Financial Services Inc. bought a new position in shares of HEICO during the 2nd quarter valued at approximately $100,000. Hedge funds and other institutional investors 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.