Zacks Investment Research upgraded shares of Heico Corporation (NYSE:HEI) from a hold rating to a buy rating in a research note published on Thursday, September 14th. They currently have $96.00 target price on the aerospace company’s stock.
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. “
HEI has been the subject of several other research reports. Jefferies Group LLC reiterated a hold rating and issued a $89.00 target price (up previously from $75.00) on shares of Heico Corporation in a research report on Thursday, August 24th. Canaccord Genuity reiterated a buy rating and issued a $80.00 target price on shares of Heico Corporation in a research report on Monday, May 22nd. Deutsche Bank AG lowered Heico Corporation from a buy rating to a hold rating and boosted their price objective for the company from $80.00 to $86.00 in a research report on Wednesday, August 16th. BidaskClub lowered Heico Corporation from a strong-buy rating to a buy rating in a research report on Friday, August 18th. Finally, Credit Suisse Group reaffirmed an outperform rating and set a $98.00 target price (up previously from $85.00) on shares of Heico Corporation in a research note on Tuesday, August 29th. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company currently has a consensus rating of Buy and a consensus target price of $91.33.
Heico Corporation (NYSE HEI) traded up 1.292% during midday trading on Thursday, reaching $90.535. 110,146 shares of the company were exchanged. The firm’s 50 day moving average price is $84.62 and its 200-day moving average price is $75.51. Heico Corporation has a 52 week low of $52.56 and a 52 week high of $90.90. The stock has a market capitalization of $7.65 billion, a P/E ratio of 44.336 and a beta of 0.76.
Heico Corporation (NYSE:HEI) last posted its quarterly earnings data on Wednesday, August 23rd. The aerospace company reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $390.55 million. During the same period in the previous year, the business earned $0.62 EPS. Heico Corporation’s revenue for the quarter was up 9.9% compared to the same quarter last year. Equities analysts forecast that Heico Corporation will post $2.10 EPS for the current fiscal year.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Suntrust Banks Inc. boosted its stake in shares of Heico Corporation by 1.5% during the 2nd quarter. Suntrust Banks Inc. now owns 12,918 shares of the aerospace company’s stock worth $927,000 after acquiring an additional 194 shares in the last quarter. Steinberg Global Asset Management lifted its position in shares of Heico Corporation by 1.4% during the 1st quarter. Steinberg Global Asset Management now owns 15,624 shares of the aerospace company’s stock worth $1,362,000 after purchasing an additional 209 shares during the last quarter. Raymond James Financial Services Advisors Inc. lifted its position in shares of Heico Corporation by 2.5% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 9,749 shares of the aerospace company’s stock worth $850,000 after purchasing an additional 234 shares during the last quarter. Parkside Financial Bank & Trust lifted its position in shares of Heico Corporation by 23.6% during the 2nd quarter. Parkside Financial Bank & Trust now owns 1,482 shares of the aerospace company’s stock worth $106,000 after purchasing an additional 283 shares during the last quarter. Finally, D.A. Davidson & CO. lifted its position in shares of Heico Corporation by 24.7% during the 2nd quarter. D.A. Davidson & CO. now owns 2,536 shares of the aerospace company’s stock worth $182,000 after purchasing an additional 502 shares during the last quarter. Institutional investors own 26.41% of the company’s stock.
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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