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, The Fly reports.

Other research analysts have also recently issued reports about the stock. Zacks Investment Research raised shares of Heico Corporation from a “hold” rating to a “buy” rating and set a $83.00 target price on the stock in a research report on Tuesday, May 30th. Canaccord Genuity reissued a “buy” rating and set a $80.00 target price on shares of Heico Corporation in a research report on Monday, May 22nd. Finally, Jefferies Group LLC reissued a “hold” rating and set a $75.00 target price on shares of Heico Corporation in a research report on Monday, June 26th. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Heico Corporation presently has a consensus rating of “Hold” and an average price target of $85.00.

Shares of Heico Corporation (NYSE:HEI) traded down 1.01% during midday trading on Wednesday, hitting $85.55. 197,933 shares of the stock were exchanged. Heico Corporation has a 12-month low of $52.56 and a 12-month high of $87.36. The firm has a 50 day moving average of $79.46 and a 200 day moving average of $72.04. The firm has a market cap of $7.21 billion, a P/E ratio of 42.54 and a beta of 0.76.

Heico Corporation (NYSE:HEI) last posted its earnings results on Tuesday, May 23rd. The aerospace company reported $0.53 EPS for the quarter, topping analysts’ consensus estimates of $0.50 by $0.03. Heico Corporation had a net margin of 12.08% and a return on equity of 15.89%. The business had revenue of $368.70 million for the quarter, compared to analysts’ expectations of $368.78 million. During the same period in the previous year, the company posted $0.57 earnings per share. The business’s revenue for the quarter was up 5.2% compared to the same quarter last year. Equities analysts forecast that Heico Corporation will post $2.09 EPS for the current fiscal year.

TRADEMARK VIOLATION NOTICE: “Heico Corporation (HEI) Downgraded by Deutsche Bank AG” was reported by American Banking News and is the sole property of of American Banking News. If you are accessing this piece on another publication, it was illegally copied and reposted in violation of US & international trademark and copyright legislation. The legal version of this piece can be read at https://www.americanbankingnews.com/2017/08/16/heico-corporation-hei-downgraded-by-deutsche-bank-ag.html.

Hedge funds have recently modified their holdings of the company. Riverbridge Partners LLC boosted its stake in shares of 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 period. Fisher Asset Management LLC boosted its stake in shares of 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 period. PNC Financial Services Group Inc. boosted its stake in shares of Heico Corporation by 3.7% in the second quarter. PNC Financial Services Group Inc. now owns 674,898 shares of the aerospace company’s stock worth $48,483,000 after buying an additional 24,299 shares during the period. Ardevora Asset Management LLP boosted its stake in shares of 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 period. Finally, First Trust Advisors LP boosted its stake in shares of 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 period. 23.05% of the stock is currently owned by 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.

The Fly

Analyst Recommendations for Heico Corporation (NYSE:HEI)

Receive News & Ratings for Heico Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Heico Corporation and related companies with MarketBeat.com's FREE daily email newsletter.