Shares of Heico Corporation (NYSE:HEI) have garnered a consensus rating of “Moderate Buy” from nineteen brokerage firms monitoring the company, as reported by MarketBeat.com. The ratings indicate a healthy interest in the stock, with nine analysts recommending a hold and ten advocating for a buy.
According to recent updates, the average twelve-month price target for Heico shares stands at $357.07. Analyst sentiment appears optimistic, with several brokerage firms providing insights into their evaluations. For instance, Truist Financial raised its price objective from $366.00 to $391.00, maintaining a buy rating. Similarly, Royal Bank of Canada upgraded its target to $375.00 from $350.00, while Stifel Nicolaus set a target price of $370.00, also rating the stock as a buy.
Stock Performance and Financial Overview
On Friday, Heico stock opened at $334.99, reflecting a slight decrease of 0.9%. The company maintains a solid financial profile, with a market capitalization of $46.68 billion. Its price-to-earnings (P/E) ratio is 68.23, and the company showcases a beta of 1.04. Heico’s debt-to-equity ratio stands at 0.49, while the quick ratio is 1.51 and the current ratio is 2.83.
In its most recent quarterly earnings report released on December 18, Heico reported earnings per share (EPS) of $1.33, surpassing analysts’ expectations of $1.22 by $0.11. The company achieved revenue of $1.21 billion, exceeding forecasts of $1.17 billion. This performance marks a 19.3% increase in revenue compared to the same quarter last year, when it posted an EPS of $0.99. Analysts project that Heico will post an EPS of $4.20 for the current year.
Dividend Declaration and Insider Activity
Heico has also announced a dividend of $0.12 per share, scheduled for payment on January 20, 2024. The record date for this dividend is January 5, 2024, with an ex-dividend date also set for January 5. This dividend reflects a yield of 8.0% and a payout ratio of 4.89%.
In recent insider trading activity, Alan Schriesheim, a director at Heico, purchased 672 shares at an average price of $243.93 per share, totaling approximately $163,920.96. Another director, Carol F. Fine, made a similar acquisition of 672 shares on the same day for an equivalent amount. Together, these transactions indicate a notable commitment from insiders, with a total of 4,448 shares acquired in the last quarter valued at $1,086,933. Currently, insiders hold 9.55% of the stock.
Institutional trading activity has also been notable. Westside Investment Management Inc. doubled its stake in Heico during the third quarter, now holding 86 shares valued at $28,000. Other institutions, such as Greykasell Wealth Strategies Inc. and Hazlett Burt & Watson Inc., also established new positions in the company, contributing to a total of 27.12% of the stock being owned by institutional investors and hedge funds.
Heico Corporation specializes in aerospace, defense, and electronics, designing and manufacturing a diverse range of products while providing repair and aftermarket services. Headquartered in Hollywood, Florida, the company serves various sectors, including commercial aviation, military, and space markets. Its focus on enhancing the reliability and availability of complex equipment underscores its commitment to the aerospace industry.
