Zacks Investment Research Upgrades Heico (HEI) to “Strong-Buy”
Zacks Investment Research upgraded shares of Heico (NYSE:HEI) from a hold rating to a strong-buy rating in a research note released on Tuesday morning. Zacks Investment Research currently has $93.00 price objective 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. “
Other equities research analysts have also recently issued reports about the stock. Jefferies Group upgraded shares of Heico from a hold rating to a buy rating in a report on Monday, January 8th. SunTrust Banks restated a buy rating and issued a $92.80 price target on shares of Heico in a report on Thursday, December 21st. Canaccord Genuity raised their price target on shares of Heico from $73.60 to $76.00 and gave the stock a buy rating in a report on Tuesday, October 24th. Stephens set a $83.20 price target on shares of Heico and gave the stock a hold rating in a report on Monday, December 18th. Finally, Credit Suisse Group restated an outperform rating and issued a $87.20 price target (up from $78.40) on shares of Heico in a report on Wednesday, December 20th. They noted that the move was a valuation call. Four analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. Heico currently has a consensus rating of Buy and an average price target of $83.53.
Heico (NYSE:HEI) last posted its quarterly earnings results on Monday, December 18th. The aerospace company reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.46 by $0.04. The business had revenue of $421.22 million during the quarter, compared to analysts’ expectations of $408.32 million. Heico had a net margin of 12.20% and a return on equity of 15.70%. The business’s quarterly revenue was up 15.9% on a year-over-year basis. During the same period last year, the company posted $0.52 earnings per share. equities analysts predict that Heico will post 2.04 EPS for the current fiscal year.
Institutional investors have recently added to or reduced their stakes in the business. Benjamin F. Edwards & Company Inc. bought a new position in shares of Heico in the fourth quarter valued at $118,000. Captrust Financial Advisors bought a new position in shares of Heico in the fourth quarter valued at $129,000. RKL Wealth Management LLC bought a new position in shares of Heico in the third quarter valued at $201,000. Ironwood Investment Counsel LLC bought a new position in shares of Heico in the third quarter valued at $201,000. Finally, BB&T Securities LLC bought a new position in shares of Heico in the fourth quarter valued at $205,000. 20.16% of the stock is currently owned by hedge funds and other institutional investors.
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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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