Heico Corporation (NYSE:HEI) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Wednesday.

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. “

A number of other equities research analysts have also issued reports on HEI. Bank of America Corporation upgraded shares of Heico Corporation from a “neutral” rating to a “buy” rating and upped their target price for the company from $75.00 to $95.00 in a research note on Tuesday. Canaccord Genuity restated a “buy” rating and issued a $91.00 target price (up previously from $80.00) on shares of Heico Corporation in a research note on Thursday, August 10th. BidaskClub lowered shares of Heico Corporation from a “buy” rating to a “hold” rating in a research note on Thursday, August 24th. Jefferies Group LLC restated a “hold” rating and issued a $89.00 target price (up previously from $75.00) on shares of Heico Corporation in a research note on Thursday, August 24th. Finally, Deutsche Bank AG lowered shares of Heico Corporation from a “buy” rating to a “hold” rating and upped their target price for the company from $80.00 to $86.00 in a research note on Wednesday, August 16th. Six analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $90.75.

Heico Corporation (NYSE HEI) traded up 0.09% during mid-day trading on Wednesday, hitting $84.55. 205,532 shares of the company traded hands. Heico Corporation has a one year low of $52.56 and a one year high of $87.36. The stock has a market capitalization of $7.14 billion, a price-to-earnings ratio of 41.41 and a beta of 0.76. The company’s 50-day moving average is $81.10 and its 200-day moving average is $73.02.

Heico Corporation (NYSE:HEI) last issued its earnings results on Wednesday, August 23rd. The aerospace company reported $0.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.01. The business had revenue of $391.50 million for the quarter, compared to analyst estimates of $390.55 million. Heico Corporation had a net margin of 12.04% and a return on equity of 15.94%. The company’s revenue for the quarter was up 9.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.62 EPS. Analysts predict that Heico Corporation will post $2.10 EPS for the current year.

ILLEGAL ACTIVITY WARNING: “Heico Corporation (HEI) Downgraded to “Hold” at Zacks Investment Research” was first reported by American Banking News and is owned by of American Banking News. If you are reading this news story on another site, it was copied illegally and republished in violation of United States & international copyright and trademark law. The correct version of this news story can be viewed at https://www.americanbankingnews.com/2017/08/30/heico-corporation-hei-downgraded-to-hold-at-zacks-investment-research.html.

Several large investors have recently made changes to their positions in HEI. Riverbridge Partners LLC increased 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 in the last quarter. Fisher Asset Management LLC increased 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 in the last quarter. PNC Financial Services Group Inc. increased 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 in the last quarter. Ardevora Asset Management LLP increased 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 in the last quarter. Finally, First Trust Advisors LP increased 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 in the last quarter. 26.41% of the stock is owned by institutional investors and hedge funds.

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.

Get a free copy of the Zacks research report on Heico Corporation (HEI)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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.