William Blair Weighs in on HEICO Co.’s FY2024 Earnings (NYSE:HEI)

HEICO Co. (NYSE:HEI) – Analysts at William Blair boosted their FY2024 EPS estimates for HEICO in a note issued to investors on Wednesday, May 29th. William Blair analyst L. Dipalma now anticipates that the aerospace company will earn $3.53 per share for the year, up from their prior estimate of $3.50. The consensus estimate for HEICO’s current full-year earnings is $3.51 per share. William Blair also issued estimates for HEICO’s Q4 2024 earnings at $0.93 EPS.

Other equities analysts also recently issued reports about the stock. Robert W. Baird increased their price target on shares of HEICO from $223.00 to $243.00 and gave the stock an “outperform” rating in a research note on Thursday. Royal Bank of Canada increased their price target on shares of HEICO from $235.00 to $250.00 and gave the stock an “outperform” rating in a research note on Thursday. Deutsche Bank Aktiengesellschaft increased their price target on shares of HEICO from $209.00 to $235.00 and gave the stock a “buy” rating in a research note on Tuesday, May 21st. Truist Financial reaffirmed a “buy” rating and set a $240.00 target price (up previously from $229.00) on shares of HEICO in a research note on Thursday. Finally, Stifel Nicolaus raised their target price on shares of HEICO from $215.00 to $230.00 and gave the company a “buy” rating in a research note on Monday, May 6th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $220.33.

HEICO Price Performance

HEI stock opened at $221.76 on Thursday. HEICO has a 1 year low of $153.63 and a 1 year high of $225.61. The company has a market cap of $30.68 billion, a P/E ratio of 69.74, a PEG ratio of 3.19 and a beta of 1.11. The firm has a 50-day moving average of $203.62 and a 200 day moving average of $189.48. The company has a debt-to-equity ratio of 0.75, a current ratio of 3.17 and a quick ratio of 1.40.

HEICO (NYSE:HEI) last released its quarterly earnings results on Tuesday, May 28th. The aerospace company reported $0.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.80 by $0.08. HEICO had a net margin of 12.62% and a return on equity of 14.59%. The company had revenue of $955.40 million during the quarter, compared to the consensus estimate of $951.24 million. During the same period in the prior year, the firm earned $0.76 earnings per share. HEICO’s revenue was up 38.9% on a year-over-year basis.

Institutional Investors Weigh In On HEICO

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Zeno Equity Partners LLP purchased a new position in shares of HEICO during the 4th quarter worth $25,000. NBC Securities Inc. purchased a new position in shares of HEICO during the 3rd quarter worth $42,000. Psagot Value Holdings Ltd. Israel purchased a new position in shares of HEICO during the 4th quarter worth $70,000. Beaumont Financial Advisors LLC purchased a new position in shares of HEICO during the 4th quarter worth $200,000. Finally, Sequoia Financial Advisors LLC purchased a new position in shares of HEICO during the 4th quarter worth $202,000. Hedge funds and other institutional investors own 27.12% of the company’s stock.

Insider Activity at HEICO

In related news, Director Alan Schriesheim sold 26,000 shares of the firm’s stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $192.18, for a total transaction of $4,996,680.00. Following the completion of the sale, the director now owns 155,862 shares of the company’s stock, valued at $29,953,559.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Frank J. Schwitter sold 400 shares of the firm’s stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $193.70, for a total transaction of $77,480.00. Following the completion of the sale, the director now owns 1,255 shares of the company’s stock, valued at $243,093.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Alan Schriesheim sold 26,000 shares of the firm’s stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $192.18, for a total transaction of $4,996,680.00. Following the completion of the sale, the director now owns 155,862 shares in the company, valued at approximately $29,953,559.16. The disclosure for this sale can be found here. 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.