Heico (NYSE:HEI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Tuesday. The brokerage presently has a $99.00 price target on the aerospace company’s stock. Zacks Investment Research‘s target price indicates a potential upside of 11.42% from the company’s current price.
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 issued reports about the company. SunTrust Banks upped their price target on Heico to $96.00 and gave the stock a “buy” rating in a research note on Monday. Canaccord Genuity upped their price target on Heico from $91.00 to $92.00 and gave the stock a “buy” rating in a research note on Wednesday, August 23rd. BidaskClub lowered Heico from a “strong-buy” rating to a “buy” rating in a research note on Friday, August 18th. Seaport Global Securities started coverage on Heico in a research note on Tuesday, September 12th. They issued a “neutral” rating and a $90.00 target price for the company. Finally, Deutsche Bank lowered Heico from a “buy” rating to a “hold” rating and increased their target price for the company from $80.00 to $86.00 in a research note on Wednesday, August 16th. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $92.78.
Shares of Heico (HEI) traded up $0.06 during trading hours on Tuesday, reaching $88.85. The company’s stock had a trading volume of 339,230 shares, compared to its average volume of 184,265. The firm has a market capitalization of $7,494.54, a price-to-earnings ratio of 43.76, a PEG ratio of 4.06 and a beta of 0.73. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.89 and a quick ratio of 1.39. Heico has a 12 month low of $59.94 and a 12 month high of $93.00.
In related news, Director Mark H. Hildebrandt bought 1,316 shares of the stock in a transaction dated Thursday, October 5th. The stock was acquired at an average price of $76.13 per share, for a total transaction of $100,187.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Thomas S. Irwin sold 20,000 shares of the stock in a transaction dated Thursday, September 21st. The shares were 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 owns 31,110 shares of the company’s stock, valued at approximately $2,373,070.80. The disclosure for this sale can be found here. 9.76% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Suntrust Banks Inc. grew its stake in Heico by 1.5% during 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 in the last quarter. D.A. Davidson & CO. grew its stake in Heico by 24.7% during 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 in the last quarter. Virtu KCG Holdings LLC grew its stake in Heico by 24.0% during 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 in the last quarter. Fortaleza Asset Management Inc. grew its stake in Heico by 25.0% during the 2nd quarter. Fortaleza Asset Management Inc. now owns 3,287 shares of the aerospace company’s stock valued at $236,000 after purchasing an additional 657 shares in the last quarter. Finally, 1st Global Advisors Inc. grew its stake in Heico by 24.8% during the 2nd quarter. 1st Global Advisors Inc. now owns 3,383 shares of the aerospace company’s stock valued at $243,000 after purchasing an additional 672 shares in the last quarter. Hedge funds and other institutional investors own 26.97% of the company’s stock.
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Heico 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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