Heico Corporation (HEI) Upgraded at Zacks Investment Research
Zacks Investment Research upgraded shares of Heico Corporation (NYSE:HEI) from a hold rating to a buy rating in a research note released on Thursday. They currently have $100.00 price target on the aerospace company’s stock.
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 topic of a number of other research reports. Credit Suisse Group restated an outperform rating and issued a $98.00 price objective (up previously from $85.00) on shares of Heico Corporation in a report on Tuesday, August 29th. Bank of America Corporation upgraded Heico Corporation from a neutral rating to a buy rating and lifted their price target for the stock from $75.00 to $95.00 in a report on Tuesday, August 29th. Canaccord Genuity reiterated a buy rating and set a $91.00 price target (up previously from $80.00) on shares of Heico Corporation in a report on Thursday, August 10th. Jefferies Group LLC reiterated a hold rating and set a $89.00 price target (up previously from $75.00) on shares of Heico Corporation in a report on Thursday, August 24th. Finally, Deutsche Bank AG lowered Heico Corporation from a buy rating to a hold rating and lifted their price target for the stock from $80.00 to $86.00 in a report on Wednesday, August 16th. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock has an average rating of Buy and a consensus price target of $91.33.
Shares of Heico Corporation (NYSE HEI) opened at 90.47 on Thursday. The company has a 50-day moving average of $84.62 and a 200 day moving average of $75.51. Heico Corporation has a 12 month low of $52.56 and a 12 month high of $90.90. The company has a market cap of $7.64 billion, a PE ratio of 44.30 and a beta of 0.76.
Heico Corporation (NYSE:HEI) last announced its quarterly earnings data on Wednesday, August 23rd. The aerospace company reported $0.53 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.01. The company had revenue of $391.50 million for the quarter, compared to analyst estimates of $390.55 million. Heico Corporation had a return on equity of 15.56% and a net margin of 12.04%. The firm’s revenue for the quarter was up 9.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.62 EPS. On average, analysts anticipate that Heico Corporation will post $2.10 earnings per share for the current year.
In other news, VP Thomas S. Irwin sold 20,000 shares of Heico Corporation stock in a transaction on Thursday, September 21st. The stock was sold at an average price of $76.28, for a total transaction of $1,525,600.00. Following the transaction, the vice president now owns 31,110 shares in the company, valued at approximately $2,373,070.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 9.76% of the stock is owned by insiders.
Large investors have recently modified their holdings of the stock. Parkside Financial Bank & Trust increased its position in shares of Heico Corporation by 23.6% during the 2nd quarter. Parkside Financial Bank & Trust now owns 1,482 shares of the aerospace company’s stock worth $106,000 after purchasing an additional 283 shares during the last quarter. D.A. Davidson & CO. increased its position in shares of Heico Corporation by 24.7% during the 2nd quarter. D.A. Davidson & CO. now owns 2,536 shares of the aerospace company’s stock worth $182,000 after purchasing an additional 502 shares during the last quarter. Cambridge Investment Research Advisors Inc. acquired a new stake in shares of Heico Corporation during the 1st quarter worth about $202,000. Brown Advisory Securities LLC acquired a new stake in shares of Heico Corporation during the 1st quarter worth about $202,000. Finally, Comerica Bank acquired a new stake in shares of Heico Corporation during the 2nd quarter worth about $209,000. 26.41% of the stock is owned by hedge funds and other institutional investors.
About Heico Corporation
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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