Zacks Investment Research upgraded shares of Heico Corporation (NYSE:HEI) from a hold rating to a buy rating in a research report sent to investors on Thursday. Zacks Investment Research currently has $96.00 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. “
Several other brokerages also recently commented on HEI. Canaccord Genuity reaffirmed a buy rating and set a $91.00 target price (up previously from $80.00) on shares of Heico Corporation in a report on Thursday, August 10th. Deutsche Bank AG downgraded shares of Heico Corporation from a buy rating to a hold rating and lifted their target price for the stock from $80.00 to $86.00 in a report on Wednesday, August 16th. Seaport Global Securities assumed coverage on shares of Heico Corporation in a report on Tuesday. They set a neutral rating and a $90.00 target price for the company. Credit Suisse Group reaffirmed an outperform rating and set a $98.00 target price (up previously from $85.00) on shares of Heico Corporation in a report on Tuesday, August 29th. Finally, Bank of America Corporation raised shares of Heico Corporation from a neutral rating to a buy rating and lifted their target price for the stock from $75.00 to $95.00 in a report on Tuesday, August 29th. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company presently has an average rating of Hold and an average target price of $90.89.
Heico Corporation (NYSE HEI) traded up 0.19% during midday trading on Thursday, hitting $84.85. 105,978 shares of the company traded hands. The company has a market capitalization of $7.17 billion, a price-to-earnings ratio of 41.55 and a beta of 0.76. The stock’s 50-day moving average price is $84.08 and its 200 day moving average price is $74.98. 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 consensus estimate of $0.52 by $0.01. The business had revenue of $391.50 million during the quarter, compared to the consensus estimate of $390.55 million. Heico Corporation had a net margin of 12.04% and a return on equity of 15.56%. Heico Corporation’s revenue was up 9.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.62 EPS. On average, equities analysts forecast that Heico Corporation will post $2.10 EPS for the current year.
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A number of hedge funds and other institutional investors have recently bought and sold shares of HEI. Suntrust Banks Inc. boosted its holdings in Heico Corporation by 19.4% in the 1st quarter. Suntrust Banks Inc. now owns 12,724 shares of the aerospace company’s stock valued at $1,109,000 after purchasing an additional 2,067 shares during the period. Eagle Asset Management Inc. boosted its holdings in Heico Corporation by 4.2% in the 1st quarter. Eagle Asset Management Inc. now owns 117,331 shares of the aerospace company’s stock valued at $10,231,000 after purchasing an additional 4,726 shares during the period. Virginia Retirement Systems ET AL boosted its holdings in Heico Corporation by 10.3% in the 1st quarter. Virginia Retirement Systems ET AL now owns 8,600 shares of the aerospace company’s stock valued at $750,000 after purchasing an additional 800 shares during the period. Raymond James Financial Services Advisors Inc. boosted its holdings in Heico Corporation by 2.5% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 9,749 shares of the aerospace company’s stock valued at $850,000 after purchasing an additional 234 shares during the period. Finally, Clinton Group Inc. bought a new stake in Heico Corporation in the 1st quarter valued at about $351,000. 26.40% of the stock is owned by hedge funds and other institutional investors.
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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