Heico Corp (HEI) shares soared 13.63% on Thursday in the pre-market session, following the company's impressive earnings results for the quarter ended October 31.
The aerospace and defense company reported quarterly adjusted earnings of $1.20 per share, surpassing analyst expectations of $0.99 per share. Revenue rose 13.1% year-over-year to $1.01 billion, exceeding Wall Street's estimates of $981.07 million.
Heico has consistently beaten earnings estimates for the past four quarters, reflecting its strong financial performance. Analysts have a "buy" rating on the stock, with a median 12-month price target of $215.00, indicating further upside potential.
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