Analysts forecast that Heico Corp (NYSE:HEI) will announce $529.78 million in sales for the current quarter, according to Zacks. Four analysts have issued estimates for Heico’s earnings, with estimates ranging from $524.00 million to $532.70 million. Heico reported sales of $476.88 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 11.1%. The company is scheduled to report its next earnings report after the market closes on Monday, December 16th.
On average, analysts expect that Heico will report full year sales of $2.04 billion for the current financial year, with estimates ranging from $2.04 billion to $2.05 billion. For the next year, analysts expect that the business will post sales of $2.22 billion, with estimates ranging from $2.19 billion to $2.23 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Heico.
A number of equities analysts recently commented on HEI shares. Credit Suisse Group raised their price objective on shares of Heico from $133.00 to $163.00 and gave the stock an “outperform” rating in a research note on Thursday, August 29th. They noted that the move was a valuation call. ValuEngine raised shares of Heico from a “sell” rating to a “hold” rating in a research note on Friday, November 1st. Robert W. Baird increased their target price on Heico from $125.00 to $170.00 and gave the company an “outperform” rating in a report on Tuesday, August 13th. SunTrust Banks raised their target price on Heico from $128.00 to $160.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. Finally, UBS Group downgraded Heico from a “neutral” rating to a “sell” rating and lifted their price target for the company from $120.00 to $134.00 in a report on Tuesday, September 3rd. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $132.67.
In other news, insider Eric A. Mendelson acquired 949 shares of the business’s stock in a transaction that occurred on Tuesday, October 29th. The stock was acquired at an average cost of $120.70 per share, for a total transaction of $114,544.30. Following the completion of the acquisition, the insider now 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 can be accessed through this link. Also, Director Frank J. Schwitter acquired 1,210 shares of the business’s stock in a transaction that occurred on Monday, October 28th. The shares were purchased at an average price of $94.82 per share, with a total value of $114,732.20. Following the completion of the acquisition, the director now owns 1,313 shares of the company’s stock, valued at approximately $124,498.66. The disclosure for this purchase can be found here. Company insiders own 9.23% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the business. Redwood Investments LLC purchased a new stake in shares of Heico during the 2nd quarter worth about $328,000. Ibex Investors LLC bought a new stake in shares of Heico in the 2nd quarter valued at approximately $229,000. Highland Capital Management LLC acquired a new position in Heico in the second quarter worth approximately $2,072,000. HWG Holdings LP acquired a new position in Heico in the second quarter worth approximately $2,597,000. Finally, Janney Montgomery Scott LLC raised its position in Heico by 3.5% during the second quarter. Janney Montgomery Scott LLC now owns 11,591 shares of the aerospace company’s stock valued at $1,551,000 after acquiring an additional 389 shares in the last quarter. Hedge funds and other institutional investors own 26.19% 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. 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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