HEICO (NYSE:HEI) Posts Earnings Results, Beats Expectations By $0.02 EPS

HEICO (NYSE:HEI) released its quarterly earnings results on Tuesday. The aerospace company reported $0.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.97 by $0.02, Zacks reports. HEICO had a return on equity of 14.51% and a net margin of 12.64%. The business had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $1.03 billion. During the same period in the previous year, the business posted $0.74 earnings per share. The firm’s revenue for the quarter was up 8.2% compared to the same quarter last year.

HEICO Stock Performance

Shares of HEI stock opened at $259.92 on Wednesday. The stock has a market cap of $36.02 billion, a PE ratio of 76.22, a price-to-earnings-growth ratio of 3.14 and a beta of 1.24. The stock has a 50-day moving average of $262.66 and a 200-day moving average of $247.81. The company has a debt-to-equity ratio of 0.63, a current ratio of 3.30 and a quick ratio of 1.47. HEICO has a one year low of $169.70 and a one year high of $283.60.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on HEI. Deutsche Bank Aktiengesellschaft boosted their target price on shares of HEICO from $235.00 to $271.00 and gave the stock a “buy” rating in a research note on Wednesday, September 4th. Robert W. Baird increased their price objective on HEICO from $243.00 to $280.00 and gave the company an “outperform” rating in a research report on Wednesday, August 28th. Royal Bank of Canada boosted their target price on HEICO from $250.00 to $272.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 28th. Morgan Stanley raised their price target on HEICO from $245.00 to $265.00 and gave the company an “equal weight” rating in a report on Friday, October 18th. Finally, Benchmark reiterated a “buy” rating and issued a $245.00 price objective on shares of HEICO in a research report on Tuesday, August 27th. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $270.70.

Insider Buying and Selling

In other HEICO news, CEO Laurans A. Mendelson bought 725 shares of the stock in a transaction that occurred 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 purchase, the chief executive officer now owns 929,984 shares in the company, valued at $244,529,992.96. This trade represents a 0.08 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Victor H. Mendelson bought 726 shares of the company’s stock in a transaction 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 completion of the acquisition, the insider now directly owns 1,234,950 shares in the company, valued at approximately $324,717,753. This trade represents a 0.06 % increase in their position. The disclosure for this purchase can be found here. Insiders have bought 2,175 shares of company stock valued at $571,895 in the last 90 days. 8.10% of the stock is owned by insiders.

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.