Shares of Heico Corporation (NYSE:HEI) have received an average rating of “Buy” from the ten brokerages that are currently covering the firm, Marketbeat.com reports. Five analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $91.33.
HEI has been the subject of a number of research reports. Zacks Investment Research raised Heico Corporation from a “hold” rating to a “buy” rating and set a $96.00 price target for the company in a research note on Wednesday, September 6th. Canaccord Genuity reissued a “buy” rating and set a $91.00 price target (up from $80.00) on shares of Heico Corporation in a research note on Thursday, August 10th. BidaskClub lowered Heico Corporation from a “strong-buy” rating to a “buy” rating in a research note on Friday, August 18th. Bank of America Corporation raised Heico Corporation from a “neutral” rating to a “buy” rating and increased their price target for the company from $75.00 to $95.00 in a research note on Tuesday, August 29th. Finally, Jefferies Group LLC reissued a “hold” rating and set a $89.00 price target (up from $75.00) on shares of Heico Corporation in a research note on Thursday, August 24th.
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Heico Corporation (NYSE HEI) traded down 0.53% during mid-day trading on Wednesday, reaching $88.88. The company had a trading volume of 177,871 shares. Heico Corporation has a 1-year low of $52.56 and a 1-year high of $91.32. The firm has a 50-day moving average of $86.48 and a 200 day moving average of $77.32. The company has a market capitalization of $7.51 billion, a PE ratio of 43.53 and a beta of 0.74.
Heico Corporation (NYSE:HEI) last announced its quarterly earnings results on Wednesday, August 23rd. The aerospace company reported $0.53 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.01. Heico Corporation had a return on equity of 15.56% and a net margin of 12.04%. The company had revenue of $391.50 million during the quarter, compared to analyst estimates of $390.55 million. During the same period in the prior year, the company earned $0.62 earnings per share. The firm’s revenue was up 9.9% on a year-over-year basis. On average, analysts predict that Heico Corporation will post $2.10 earnings per share for the current fiscal year.
In other news, VP Thomas S. Irwin sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 21st. The stock was sold at an average price of $76.28, for a total value of $1,525,600.00. Following the completion of the sale, the vice president now directly owns 31,110 shares of the company’s stock, valued at approximately $2,373,070.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mark H. Hildebrandt acquired 1,316 shares of the stock in a transaction dated Thursday, October 5th. The stock was bought at an average cost of $76.13 per share, with a total value of $100,187.08. The disclosure for this purchase can be found here. 9.76% of the stock is owned by company insiders.
Several large investors have recently bought and sold shares of the company. Suntrust Banks Inc. lifted its stake in shares of Heico Corporation by 1.5% in the 2nd quarter. Suntrust Banks Inc. now owns 12,918 shares of the aerospace company’s stock valued at $927,000 after purchasing an additional 194 shares during the last quarter. Raymond James Financial Services Advisors Inc. lifted its stake in shares of 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 last quarter. Parkside Financial Bank & Trust lifted its stake in shares of Heico Corporation by 23.6% in the 2nd quarter. Parkside Financial Bank & Trust now owns 1,482 shares of the aerospace company’s stock valued at $106,000 after purchasing an additional 283 shares during the last quarter. D.A. Davidson & CO. lifted its stake in shares of Heico Corporation by 24.7% in the 2nd quarter. D.A. Davidson & CO. now owns 2,536 shares of the aerospace company’s stock valued at $182,000 after purchasing an additional 502 shares during the last quarter. Finally, Virtu KCG Holdings LLC lifted its stake in shares of Heico Corporation by 24.0% in the 2nd quarter. Virtu KCG Holdings LLC now owns 3,302 shares of the aerospace company’s stock valued at $237,000 after purchasing an additional 639 shares during the last quarter. 26.41% of the stock is owned by institutional investors and hedge funds.
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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