Gabelli Reiterates Hold Rating for Heico Corp. (HEI)
Heico Corp. (NYSE:HEI)‘s stock had its “hold” rating reiterated by research analysts at Gabelli in a research report issued to clients and investors on Tuesday.
A number of other analysts also recently issued reports on HEI. Canaccord Genuity reissued a “buy” rating on shares of Heico Corp. in a research report on Thursday, May 26th. Zacks Investment Research raised Heico Corp. from a “hold” rating to a “buy” rating and set a $75.00 target price for the company in a research report on Friday, May 27th. Jefferies Group reissued a “hold” rating on shares of Heico Corp. in a research report on Sunday, May 29th. Credit Suisse Group AG raised their target price on Heico Corp. from $62.00 to $68.00 and gave the stock a “neutral” rating in a research report on Thursday, August 25th. Finally, Bank of America Corp. downgraded Heico Corp. from a “buy” rating to a “neutral” rating and set a $75.00 target price for the company. in a research report on Tuesday, August 30th. They noted that the move was a valuation call. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $74.40.
Shares of Heico Corp. (NYSE:HEI) traded up 1.17% during mid-day trading on Tuesday, hitting $69.18. The company had a trading volume of 115,277 shares. Heico Corp. has a one year low of $47.24 and a one year high of $75.01. The company has a market capitalization of $4.65 billion, a PE ratio of 31.30 and a beta of 0.64. The company’s 50-day moving average is $70.24 and its 200 day moving average is $65.00.
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Heico Corp. (NYSE:HEI) last issued its quarterly earnings results on Wednesday, August 24th. The company reported $0.62 EPS for the quarter, beating the Zacks’ consensus estimate of $0.59 by $0.03. The company earned $356.10 million during the quarter, compared to the consensus estimate of $356.35 million. Heico Corp. had a return on equity of 15.99% and a net margin of 11.19%. Heico Corp.’s revenue was up 18.5% on a year-over-year basis. During the same period last year, the business posted $0.51 earnings per share. On average, equities research analysts forecast that Heico Corp. will post $2.15 EPS for the current fiscal year.
Several institutional investors have recently made changes to their positions in the stock. Bath Savings Trust Co bought a new position in shares of Heico Corp. during the second quarter valued at $492,000. Thomson Horstmann & Bryant Inc. acquired a new stake in Heico Corp. during the second quarter valued at about $620,000. Eagle Asset Management Inc. raised its stake in Heico Corp. by 100.3% in the second quarter. Eagle Asset Management Inc. now owns 199,673 shares of the company’s stock valued at $13,340,000 after buying an additional 100,009 shares in the last quarter. Avalon Advisors LLC acquired a new stake in Heico Corp. during the first quarter valued at about $1,330,000. Finally, LPL Financial LLC raised its stake in Heico Corp. by 11.0% in the first quarter. LPL Financial LLC now owns 5,811 shares of the company’s stock valued at $341,000 after buying an additional 574 shares in the last quarter. Institutional investors own 28.08% of the company’s stock.
About Heico Corp.
HEICO Corporation is an aerospace and electronics company. The Company provides commercial aircraft replacement parts, aircraft accessories component repair and overhaul services for avionic, electro-mechanical, flight surface, hydraulic and pneumatic applications; distributes aircraft parts, and manufactures other critical aircraft parts.
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