Heico Corporation (NYSE:HEI) was downgraded by stock analysts at Deutsche Bank AG from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday. They presently have a $86.00 price objective on the aerospace company’s stock, up from their previous price objective of $80.00. Deutsche Bank AG’s price target would indicate a potential upside of 5.08% from the stock’s previous close.
HEI has been the subject of a number of other research reports. Zacks Investment Research upgraded shares of Heico Corporation from a “hold” rating to a “buy” rating and set a $81.00 price target for the company in a report on Tuesday, June 27th. Canaccord Genuity raised their price target on shares of Heico Corporation from $77.00 to $80.00 and gave the stock a “buy” rating in a report on Wednesday, May 3rd. Finally, Jefferies Group LLC restated a “hold” rating and set a $75.00 price target on shares of Heico Corporation in a report on Monday, June 26th. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Heico Corporation presently has an average rating of “Hold” and a consensus price target of $83.25.
Heico Corporation (HEI) opened at 81.84 on Wednesday. Heico Corporation has a 12 month low of $52.56 and a 12 month high of $87.36. The firm’s 50 day moving average price is $79.73 and its 200 day moving average price is $72.11. The stock has a market cap of $6.90 billion, a price-to-earnings ratio of 40.70 and a beta of 0.76.
Heico Corporation (NYSE:HEI) last announced its quarterly earnings results on Tuesday, May 23rd. The aerospace company reported $0.53 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.50 by $0.03. The business had revenue of $368.70 million during the quarter, compared to the consensus estimate of $368.78 million. Heico Corporation had a net margin of 12.08% and a return on equity of 15.89%. The business’s revenue was up 5.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.57 EPS. On average, equities research analysts predict that Heico Corporation will post $2.09 EPS for the current fiscal year.
Several institutional investors have recently bought and sold shares of HEI. Riverbridge Partners LLC boosted its position in Heico Corporation by 21.8% in the second quarter. Riverbridge Partners LLC now owns 1,621,457 shares of the aerospace company’s stock worth $116,486,000 after buying an additional 290,014 shares during the last quarter. Fisher Asset Management LLC boosted its position in Heico Corporation by 20.7% in the second quarter. Fisher Asset Management LLC now owns 1,170,462 shares of the aerospace company’s stock worth $84,086,000 after buying an additional 200,591 shares during the last quarter. Ardevora Asset Management LLP boosted its position in Heico Corporation by 32.9% in the second quarter. Ardevora Asset Management LLP now owns 524,323 shares of the aerospace company’s stock worth $37,667,000 after buying an additional 129,823 shares during the last quarter. First Trust Advisors LP boosted its position in Heico Corporation by 42.7% in the second quarter. First Trust Advisors LP now owns 419,333 shares of the aerospace company’s stock worth $30,125,000 after buying an additional 125,544 shares during the last quarter. Finally, Artemis Investment Management LLP bought a new position in Heico Corporation during the second quarter worth $7,379,000. 23.05% of the stock is owned by hedge funds and other institutional investors.
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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