Heico Corporation (HEI) Rating Increased to Buy at Zacks Investment Research
Heico Corporation (NYSE:HEI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday. The brokerage presently has a $96.00 target price on the aerospace company’s stock. Zacks Investment Research‘s price objective indicates a potential upside of 13.52% from the stock’s current price.
According to Zacks, “Heico Corporation is engaged primarily in certain niche segments of the aviation, defense, space and electronics industries through its Hollywood, FL-based HEICO Aerospace Holdings Corp. subsidiary and its Miami, FL-based HEICO Electronic Technologies Corp. subsidiary. HEICO’s customers include a majority of the world’s airlines and airmotives as well as numerous defense and space contractors and military agencies worldwide in addition to telecommunications, electronics and medical equipment manufacturers. “
HEI has been the subject of a number of other research reports. Canaccord Genuity restated a “buy” rating and set a $91.00 price objective (up previously from $80.00) on shares of Heico Corporation in a report on Thursday, August 10th. Seaport Global Securities began coverage on Heico Corporation in a report on Tuesday. They set a “neutral” rating and a $90.00 price objective for the company. BidaskClub cut Heico Corporation from a “strong-buy” rating to a “buy” rating in a report on Friday, August 18th. Jefferies Group LLC restated a “hold” rating and set a $89.00 price objective (up previously from $75.00) on shares of Heico Corporation in a report on Thursday, August 24th. Finally, Deutsche Bank AG cut Heico Corporation from a “buy” rating to a “hold” rating and boosted their price objective for the company from $80.00 to $86.00 in a report on Wednesday, August 16th. Six investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Heico Corporation currently has a consensus rating of “Hold” and a consensus price target of $90.89.
Shares of Heico Corporation (NYSE:HEI) opened at 84.57 on Thursday. The company has a market cap of $7.14 billion, a P/E ratio of 41.42 and a beta of 0.76. The firm has a 50-day moving average price of $84.21 and a 200 day moving average price of $75.11. Heico Corporation has a 12 month low of $52.56 and a 12 month high of $87.36.
Heico Corporation (NYSE:HEI) last announced its earnings results on Wednesday, August 23rd. The aerospace company reported $0.53 EPS for the quarter, topping the Zacks’ consensus estimate of $0.52 by $0.01. The firm had revenue of $391.50 million during the quarter, compared to analysts’ expectations of $390.55 million. Heico Corporation had a return on equity of 15.56% and a net margin of 12.04%. The company’s quarterly revenue was up 9.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.62 EPS. Equities analysts predict that Heico Corporation will post $2.10 earnings per share for the current year.
Hedge funds and other institutional investors have recently modified their holdings of the business. Parkside Financial Bank & Trust raised its position in Heico Corporation by 23.6% during the 2nd quarter. Parkside Financial Bank & Trust now owns 1,482 shares of the aerospace company’s stock valued at $106,000 after purchasing an additional 283 shares in the last quarter. D.A. Davidson & CO. raised its position in Heico Corporation by 24.7% during the 2nd quarter. D.A. Davidson & CO. now owns 2,536 shares of the aerospace company’s stock valued at $182,000 after purchasing an additional 502 shares in the last quarter. Cambridge Investment Research Advisors Inc. bought a new stake in Heico Corporation during the 1st quarter valued at $202,000. Brown Advisory Securities LLC bought a new stake in Heico Corporation during the 1st quarter valued at $202,000. Finally, Comerica Bank bought a new stake in Heico Corporation during the 2nd quarter valued at $209,000. 26.40% of the stock is owned by institutional investors and hedge funds.
Heico Corporation Company Profile
HEICO Corporation manufactures Federal Aviation Administration (FAA)-approved jet engine and aircraft component replacement parts, other than the original equipment manufacturers (OEMs) and their subcontractors. The Company also manufactures various types of electronic equipment for the aviation, medical, telecommunications and electronics industries.
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