Heico (NYSE:HEI) Stock Gets Price Target Cut from TD Cowen

Heico (NYSE:HEI) had its price target cut by TD Cowen from $350.00 to $330.00 in a research note published on Friday,Benzinga reports. They currently have a hold rating on the aerospace company’s stock.

Several other research analysts have also recently issued reports on the company. Wall Street Zen cut Heico from a “buy” rating to a “hold” rating in a research note on Saturday, October 3rd. UBS Group restated a “neutral” rating and set a $396.00 price objective (up from $382.00) on shares of Heico in a report on Thursday, August 27th. Citigroup lifted their target price on Heico from $429.00 to $441.00 and gave the company a “buy” rating in a research report on Friday, August 28th. The Goldman Sachs Group reiterated a “buy” rating and issued a $491.00 target price on shares of Heico in a report on Monday, August 31st. Finally, Melius Research set a $350.00 price target on Heico and gave the stock a “hold” rating in a research report on Monday, September 14th. Three equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $387.00.

Heico Price Performance

Shares of HEI stock opened at $298.22 on Friday. The company has a market capitalization of $41.68 billion, a P/E ratio of 49.62, a P/E/G ratio of 2.51 and a beta of 1.09. The company’s 50-day simple moving average is $329.49 and its two-hundred day simple moving average is $319.99. Heico has a one year low of $256.11 and a one year high of $376.86. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.72 and a quick ratio of 1.27.

Heico (NYSE:HEI) last posted its quarterly earnings results on Tuesday, August 25th. The aerospace company reported $1.67 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $1.36 billion. During the same quarter in the previous year, the firm posted $1.26 earnings per share. The company’s revenue was up 23.1% on a year-over-year basis. As a group, equities analysts anticipate that Heico will post 6.25 EPS for the current year.

Hedge Funds Weigh In On Heico

A number of large investors have recently bought and sold shares of the business. DSM Capital Partners LLC grew its position in shares of Heico by 5.4% in the 1st quarter. DSM Capital Partners LLC now owns 807 shares of the aerospace company’s stock worth $221,000 after buying an additional 41 shares during the last quarter. Fortress Financial Solutions LLC raised its stake in shares of Heico by 2.8% during the 1st quarter. Fortress Financial Solutions LLC now owns 1,796 shares of the aerospace company’s stock worth $493,000 after acquiring an additional 49 shares in the last quarter. Bayban raised its stake in shares of Heico by 19.6% during the 1st quarter. Bayban now owns 330 shares of the aerospace company’s stock worth $90,000 after acquiring an additional 54 shares in the last quarter. Athena Wealth Management LLC lifted its position in Heico by 5.8% during the third quarter. Athena Wealth Management LLC now owns 996 shares of the aerospace company’s stock valued at $302,000 after acquiring an additional 55 shares during the last quarter. Finally, Sumitomo Life Insurance Co. lifted its position in Heico by 0.6% during the fourth quarter. Sumitomo Life Insurance Co. now owns 9,979 shares of the aerospace company’s stock valued at $3,229,000 after acquiring an additional 59 shares during the last quarter. Institutional investors own 27.12% of the company’s stock.

Heico Company Profile

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.