Heico (NYSE:HEI) Cut to “Hold” at Wall Street Zen

Wall Street Zen cut shares of Heico (NYSE:HEI) from a buy rating to a hold rating in a research report sent to investors on Saturday morning,Wall Street Zen reports.

Other equities research analysts have also recently issued research reports about the company. Wells Fargo & Company cut their price target on Heico from $350.00 to $335.00 and set an “equal weight” rating for the company in a research note on Wednesday, September 30th. Weiss Ratings raised shares of Heico from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, July 16th. Zacks Research upgraded shares of Heico from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, June 9th. UBS Group reissued a “neutral” rating and set a $396.00 price target (up from $382.00) on shares of Heico in a report on Thursday, August 27th. Finally, Citigroup raised their price objective on shares of Heico from $429.00 to $441.00 and gave the company a “buy” rating in a research report on Friday, August 28th. Three investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, Heico currently has an average rating of “Moderate Buy” and an average target price of $391.07.

Heico Stock Performance

Shares of HEI stock opened at $302.24 on Friday. Heico has a 12 month low of $256.11 and a 12 month high of $376.86. The company has a current ratio of 2.72, a quick ratio of 1.27 and a debt-to-equity ratio of 0.51. The company has a market cap of $42.24 billion, a P/E ratio of 50.29, a PEG ratio of 2.55 and a beta of 1.09. The firm has a fifty day moving average price of $334.27 and a 200 day moving average price of $319.47.

Heico (NYSE:HEI) last posted its earnings results on Tuesday, August 25th. The aerospace company reported $1.67 EPS for the quarter, beating analysts’ consensus estimates of $1.51 by $0.16. Heico had a net margin of 16.38% and a return on equity of 18.00%. The firm had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.36 billion. During the same period last year, the firm posted $1.26 EPS. The company’s revenue was up 23.1% on a year-over-year basis. Sell-side analysts predict that Heico will post 6.25 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Heico

Several institutional investors have recently modified their holdings of HEI. Osterweis Capital Management Inc. purchased a new position in Heico in the 2nd quarter valued at approximately $81,000. Bayban purchased a new stake in Heico during the fourth quarter worth $89,000. Oslo Pensjonsforsikring AS purchased a new stake in Heico during the first quarter worth $100,000. Palladiem LLC acquired a new stake in Heico in the fourth quarter valued at $117,000. Finally, Parvin Asset Management LLC acquired a new stake in Heico in the second quarter valued at $145,000. Hedge funds and other institutional investors own 27.12% of the company’s stock.

About Heico

HEICO Corporation is an aerospace, defense, and electronics company that designs, manufactures, and distributes specialized products for commercial aviation, defense, space, medical, telecommunications, and other industrial markets. Founded in 1957, the company is headquartered in Hollywood, Florida, and serves customers worldwide, including airlines, original equipment manufacturers, government agencies, and defense contractors.

HEICO operates through two primary segments. Its Flight Support Group produces FAA-approved replacement parts for jet engines and aircraft components, as well as provides aircraft and engine component repair, overhaul, and maintenance services.