Deutsche Bank Aktiengesellschaft Has Lowered Expectations for HEICO (NYSE:HEI) Stock Price

HEICO (NYSE:HEI) had its price objective reduced by Deutsche Bank Aktiengesellschaft from $271.00 to $266.00 in a research note issued on Thursday,Benzinga reports. The firm currently has a “buy” rating on the aerospace company’s stock. Deutsche Bank Aktiengesellschaft’s target price would suggest a potential upside of 11.33% from the company’s previous close.

A number of other brokerages have also commented on HEI. Royal Bank of Canada lifted their price target on shares of HEICO from $250.00 to $272.00 and gave the stock an “outperform” rating in a report on Wednesday, August 28th. UBS Group assumed coverage on HEICO in a research report on Tuesday, October 15th. They issued a “neutral” rating and a $277.00 price target on the stock. Bank of America raised their price objective on HEICO from $250.00 to $285.00 and gave the stock a “buy” rating in a research report on Thursday, September 19th. Robert W. Baird upped their target price on HEICO from $243.00 to $280.00 and gave the company an “outperform” rating in a report on Wednesday, August 28th. Finally, Benchmark restated a “buy” rating and set a $245.00 price target on shares of HEICO in a report on Tuesday, August 27th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $270.20.

HEICO Price Performance

Shares of HEI opened at $238.94 on Thursday. The company has a quick ratio of 1.47, a current ratio of 3.30 and a debt-to-equity ratio of 0.63. The stock has a market cap of $33.12 billion, a PE ratio of 70.07, a PEG ratio of 3.14 and a beta of 1.24. HEICO has a 12-month low of $169.70 and a 12-month high of $283.60. The business has a 50-day simple moving average of $261.76 and a two-hundred day simple moving average of $247.67.

HEICO (NYSE:HEI) last released its quarterly earnings data on Tuesday, December 17th. The aerospace company reported $0.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.97 by $0.02. HEICO had a return on equity of 14.51% and a net margin of 12.64%. The company had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter in the prior year, the firm posted $0.74 earnings per share. The firm’s revenue was up 8.2% compared to the same quarter last year. Analysts anticipate that HEICO will post 3.64 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other HEICO news, Director Alan Schriesheim purchased 724 shares of the firm’s stock in a transaction on Friday, October 18th. The stock was acquired at an average price of $262.94 per share, for a total transaction of $190,368.56. Following the purchase, the director now owns 174,878 shares of the company’s stock, valued at $45,982,421.32. This trade represents a 0.42 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Victor H. Mendelson acquired 726 shares of the stock in a transaction on Friday, October 18th. The shares were acquired at an average price of $262.94 per share, for a total transaction of $190,894.44. Following the acquisition, the insider now 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 position. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 2,175 shares of company stock worth $571,895. 8.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Andra AP fonden bought a new stake in HEICO during the second quarter worth $45,000. Strategic Financial Concepts LLC bought a new stake in shares of HEICO in the 2nd quarter worth $67,000. Rakuten Securities Inc. purchased a new stake in shares of HEICO in the third quarter valued at about $81,000. Hantz Financial Services Inc. bought a new position in shares of HEICO during the second quarter valued at about $100,000. Finally, Brooklyn Investment Group purchased a new position in HEICO during the third quarter worth about $128,000. 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.