HEICO Corporation (NYSE:HEI) reported upbeat earnings for its third quarter, after the closing bell on Monday.
The company reported quarterly earnings of 97 cents per share which beat the analyst consensus estimate of 92 cents per share. The company reported quarterly sales of $992.246 million which missed the analyst consensus estimate of $994.784 million.
Laurans A. Mendelson, HEICO's Chairman and CEO, commented said, "We are very pleased to report strong record quarterly consolidated net sales driven by record quarterly operating results at the Flight Support Group, as well as strong contributions from our fiscal 2023 and 2024 acquisitions. These results reflect outstanding 15% organic net sales growth in the Flight Support Group principally arising from increased demand across all of its product lines and increased demand for the Electronic Technology Group's defense, space and aerospace products."
HEICO shares gained 1.1% to trade at $250.12 on Wednesday.
These analysts made changes to their price targets on HEICO following earnings announcement.
- Baird analyst Peter Arment maintained Heico with an Outperform and raised the price target from $243 to $280.
- RBC Capital analyst Ken Herbert maintained the stock with an Outperform and boosted the price target from $250 to $272.
- Truist Securities analyst Michael Ciarmoli maintained Heico with a Buy and raised the price target from $248 to $264.
Considering buying HEI stock? Here's what analysts think:
