Wall Street Zen Downgrades Heico (NYSE:HEI) to Hold

Heico (NYSE:HEI) was downgraded by equities research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued on Sunday.

HEI has been the subject of a number of other research reports. Stifel Nicolaus set a $370.00 price target on Heico and gave the stock a “buy” rating in a research report on Monday, December 22nd. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $375.00 price target (up from $355.00) on shares of Heico in a report on Monday, December 22nd. Citigroup reaffirmed a “buy” rating and issued a $415.00 price objective (up from $367.00) on shares of Heico in a report on Tuesday, January 13th. BNP Paribas Exane upgraded shares of Heico from a “neutral” rating to an “outperform” rating in a research report on Friday, February 27th. Finally, Royal Bank Of Canada restated an “outperform” rating and set a $375.00 price target (up from $350.00) on shares of Heico in a research report on Monday, December 22nd. Eleven research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $364.43.

Heico Price Performance

NYSE HEI opened at $310.14 on Friday. The company has a 50-day moving average price of $335.11 and a two-hundred day moving average price of $323.26. Heico has a 52 week low of $229.07 and a 52 week high of $361.69. The stock has a market cap of $43.22 billion, a price-to-earnings ratio of 61.29, a price-to-earnings-growth ratio of 3.72 and a beta of 1.01. The company has a current ratio of 3.06, a quick ratio of 1.41 and a debt-to-equity ratio of 0.55.

Heico (NYSE:HEI) last released its quarterly earnings results on Wednesday, February 25th. The aerospace company reported $1.35 earnings per share for the quarter, beating analysts’ consensus estimates of $1.26 by $0.09. Heico had a return on equity of 16.57% and a net margin of 15.38%.The company had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.17 billion. During the same quarter in the previous year, the company posted $1.20 earnings per share. The business’s revenue for the quarter was up 14.4% compared to the same quarter last year. Analysts forecast that Heico will post 4.2 EPS for the current year.

Hedge Funds Weigh In On Heico

Several hedge funds have recently made changes to their positions in HEI. Acadian Asset Management LLC lifted its stake in Heico by 216.7% during the first quarter. Acadian Asset Management LLC now owns 1,381 shares of the aerospace company’s stock valued at $368,000 after purchasing an additional 945 shares during the last quarter. Andra AP fonden acquired a new position in shares of Heico in the 2nd quarter valued at $66,000. PFG Advisors boosted its position in shares of Heico by 22.1% in the 2nd quarter. PFG Advisors now owns 15,051 shares of the aerospace company’s stock valued at $4,937,000 after purchasing an additional 2,723 shares during the period. Avalon Capital Management boosted its holdings in shares of Heico by 0.9% in the second quarter. Avalon Capital Management now owns 3,895 shares of the aerospace company’s stock worth $1,278,000 after buying an additional 33 shares during the period. Finally, Kingsview Wealth Management LLC acquired a new position in Heico in the 2nd quarter worth approximately $307,000. Institutional investors and hedge funds own 27.12% of the company’s stock.

Heico Company Profile

HEICO Corporation is an aerospace, defense and electronics company that designs, manufactures, and sells a range of products and provides repair and aftermarket services. Headquartered in Hollywood, Florida, HEICO supplies replacement components, repair services and engineered systems for commercial and business aviation, military and space markets as well as for selected industrial and medical customers. The company’s offerings are focused on sustaining and improving the reliability and availability of complex equipment across its end markets.

HEICO operates through two principal business areas.