Heico Corporation (HEI) Downgraded to Buy at BidaskClub
Heico Corporation (NYSE:HEI) was downgraded by investment analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Friday.
Several other research firms have also commented on HEI. Canaccord Genuity reaffirmed a “buy” rating and set a $91.00 price objective (up from $80.00) on shares of Heico Corporation in a research note on Thursday, August 10th. Deutsche Bank AG lowered shares of Heico Corporation from a “buy” rating to a “hold” rating and lifted their price objective for the stock from $80.00 to $86.00 in a research note on Wednesday. Zacks Investment Research lowered shares of Heico Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, May 31st. Finally, Jefferies Group LLC reaffirmed a “hold” rating and set a $75.00 price objective on shares of Heico Corporation in a research note on Monday, June 26th. Five analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $83.25.
Heico Corporation (NYSE HEI) traded up 1.26% during midday trading on Friday, reaching $82.87. 210,455 shares of the company were exchanged. The firm has a market capitalization of $6.99 billion, a PE ratio of 41.21 and a beta of 0.76. The company has a 50-day moving average of $80.07 and a 200 day moving average of $72.27. Heico Corporation has a 52 week low of $52.56 and a 52 week high of $87.36.
Heico Corporation (NYSE:HEI) last posted its quarterly earnings data on Tuesday, May 23rd. The aerospace company reported $0.53 EPS for the quarter, topping the consensus estimate of $0.50 by $0.03. The company had revenue of $368.70 million during the quarter, compared to analyst estimates of $368.78 million. Heico Corporation had a net margin of 12.08% and a return on equity of 15.89%. Heico Corporation’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.57 earnings per share. Equities analysts predict that Heico Corporation will post $2.09 earnings per share for the current year.
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Several hedge funds have recently modified their holdings of the stock. Virginia Retirement Systems ET AL raised its stake in shares of Heico Corporation by 10.3% in the first quarter. Virginia Retirement Systems ET AL now owns 8,600 shares of the aerospace company’s stock worth $750,000 after buying an additional 800 shares in the last quarter. Concorde Asset Management LLC raised its stake in shares of Heico Corporation by 290.5% in the second quarter. Concorde Asset Management LLC now owns 10,219 shares of the aerospace company’s stock worth $734,000 after buying an additional 7,602 shares in the last quarter. Advisors Asset Management Inc. raised its stake in shares of Heico Corporation by 36.3% in the first quarter. Advisors Asset Management Inc. now owns 38,461 shares of the aerospace company’s stock worth $3,354,000 after buying an additional 10,243 shares in the last quarter. First Trust Advisors LP raised its stake in shares of Heico Corporation by 1.7% in the first quarter. First Trust Advisors LP now owns 293,789 shares of the aerospace company’s stock worth $25,618,000 after buying an additional 4,938 shares in the last quarter. Finally, Artisan Partners Limited Partnership raised its stake in shares of Heico Corporation by 37.7% in the first quarter. Artisan Partners Limited Partnership now owns 182,834 shares of the aerospace company’s stock worth $15,943,000 after buying an additional 50,025 shares in the last quarter. 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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