Heico (NYSE:HEI) Price Target Cut to $323.00 by Analysts at Citigroup

Heico (NYSE:HEI) had its target price dropped by Citigroup from $400.00 to $323.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the aerospace company’s stock. Citigroup’s price objective points to a potential upside of 18.97% from the company’s previous close.

HEI has been the subject of a number of other research reports. Wall Street Zen downgraded Heico from a “buy” rating to a “hold” rating in a research note on Sunday, March 8th. Stifel Nicolaus set a $370.00 target price on shares of Heico and gave the company a “buy” rating in a report on Monday, December 22nd. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $375.00 target price (up from $355.00) on shares of Heico in a research report on Monday, December 22nd. BNP Paribas Exane upgraded shares of Heico from a “neutral” rating to an “outperform” rating in a research report on Friday, February 27th. Finally, Susquehanna began coverage on shares of Heico in a research note on Friday, January 23rd. They issued a “neutral” rating and a $385.00 price objective on the stock. Ten analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat, Heico has an average rating of “Moderate Buy” and a consensus price target of $358.71.

Heico Stock Down 1.4%

Shares of HEI traded down $3.99 during midday trading on Thursday, hitting $271.49. The stock had a trading volume of 186,847 shares, compared to its average volume of 600,038. The company has a 50 day simple moving average of $314.11 and a two-hundred day simple moving average of $319.17. The company has a debt-to-equity ratio of 0.55, a current ratio of 3.06 and a quick ratio of 1.41. The firm has a market cap of $37.88 billion, a price-to-earnings ratio of 53.70, a price-to-earnings-growth ratio of 3.36 and a beta of 1.01. Heico has a twelve month low of $229.07 and a twelve month high of $361.69.

Heico (NYSE:HEI) last announced its quarterly earnings data on Wednesday, February 25th. The aerospace company reported $1.35 EPS for the quarter, beating analysts’ consensus estimates of $1.26 by $0.09. Heico had a net margin of 15.38% and a return on equity of 16.57%. The company had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.17 billion. During the same quarter last year, the firm posted $1.20 EPS. The company’s quarterly revenue was up 14.4% on a year-over-year basis. On average, analysts anticipate that Heico will post 4.2 EPS for the current year.

Institutional Investors Weigh In On Heico

A number of institutional investors and hedge funds have recently made changes to their positions in HEI. Acadian Asset Management LLC raised its stake in shares of Heico by 216.7% during the 1st quarter. Acadian Asset Management LLC now owns 1,381 shares of the aerospace company’s stock worth $368,000 after purchasing an additional 945 shares during the period. CW Advisors LLC raised its stake in Heico by 648.3% in the second quarter. CW Advisors LLC now owns 29,646 shares of the aerospace company’s stock valued at $9,724,000 after purchasing an additional 25,684 shares in the last quarter. Qtron Investments LLC increased its position in shares of Heico by 31.4% during the 2nd quarter. Qtron Investments LLC now owns 4,064 shares of the aerospace company’s stock valued at $1,333,000 after purchasing an additional 972 shares during the last quarter. Capula Management Ltd bought a new position in shares of Heico during the second quarter valued at about $623,000. Finally, Jump Financial LLC purchased a new position in Heico in the 2nd quarter worth approximately $6,393,000. 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.