Heico Corp. to Post FY2016 Earnings of $2.25 Per Share, Gabelli Forecasts (HEI)
Heico Corp. (NYSE:HEI) – Research analysts at Gabelli issued their FY2016 EPS estimates for Heico Corp. in a research note issued to investors on Tuesday. Gabelli analyst J. Foung anticipates that the firm will post earnings of $2.25 per share for the year. Gabelli currently has a “Hold” rating on the stock. Gabelli also issued estimates for Heico Corp.’s FY2017 earnings at $2.55 EPS.
Heico Corp. (NYSE:HEI) last announced its quarterly earnings data on Wednesday, August 24th. The company reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.03. The company had revenue of $356.10 million for 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%. The firm’s revenue was up 18.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.51 EPS.
HEI has been the topic of a number of other research reports. Bank of America Corp. downgraded Heico Corp. from a “buy” rating to a “neutral” rating and set a $75.00 price objective on the stock. in a research report on Tuesday, August 30th. They noted that the move was a valuation call. Canaccord Genuity increased their price objective on Heico Corp. from $75.00 to $82.00 in a research report on Friday, August 19th. Credit Suisse Group AG raised their price target on Heico Corp. from $62.00 to $68.00 and gave the company a “neutral” rating in a research report on Thursday, August 25th. Zacks Investment Research downgraded Heico Corp. from a “buy” rating to a “hold” rating in a research report on Tuesday, August 2nd. Finally, Jefferies Group restated a “hold” rating and set a $72.00 price target on shares of Heico Corp. in a research report on Thursday, August 25th. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $74.40.
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Shares of Heico Corp. (NYSE:HEI) traded up 1.090% on Thursday, hitting $69.125. The stock had a trading volume of 126,744 shares. The firm has a market capitalization of $4.65 billion, a price-to-earnings ratio of 31.278 and a beta of 0.64. Heico Corp. has a 1-year low of $47.24 and a 1-year high of $75.01. The firm has a 50 day moving average of $70.24 and a 200-day moving average of $65.00.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Riverbridge Partners LLC boosted its position in shares of Heico Corp. by 9.1% in the second quarter. Riverbridge Partners LLC now owns 1,335,913 shares of the company’s stock worth $89,252,000 after buying an additional 111,369 shares during the period. Brown Advisory Inc. boosted its position in shares of Heico Corp. by 1.4% in the second quarter. Brown Advisory Inc. now owns 637,781 shares of the company’s stock worth $42,611,000 after buying an additional 8,559 shares during the period. Ardevora Asset Management LLP boosted its position in shares of Heico Corp. by 7.9% in the second quarter. Ardevora Asset Management LLP now owns 434,100 shares of the company’s stock worth $29,002,000 after buying an additional 31,600 shares during the period. Mesirow Financial Investment Management Equity Management bought a new position in shares of Heico Corp. during the second quarter worth about $22,317,000. Finally, Eagle Asset Management Inc. boosted its position in shares of Heico Corp. by 100.3% in the second quarter. Eagle Asset Management Inc. now owns 199,673 shares of the company’s stock worth $13,340,000 after buying an additional 100,009 shares during the period. 28.08% of the stock is currently owned by hedge funds and other institutional investors.
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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