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

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. “

Other research analysts have also issued reports about the stock. Jefferies Group LLC reaffirmed a “hold” rating and issued a $89.00 price target (up from $75.00) on shares of Heico Corporation in a research note on Thursday, August 24th. Canaccord Genuity reaffirmed a “buy” rating and issued a $80.00 price target on shares of Heico Corporation in a research note on Monday, May 22nd. Deutsche Bank AG lowered shares of Heico Corporation from a “buy” rating to a “hold” rating and raised their price target for the company from $80.00 to $86.00 in a research note on Wednesday, August 16th. BidaskClub lowered shares of Heico Corporation from a “strong-buy” rating to a “buy” rating in a research note on Friday, August 18th. Finally, Credit Suisse Group reaffirmed an “outperform” rating and issued a $98.00 price target (up from $85.00) on shares of Heico Corporation in a research note on Tuesday, August 29th. Six research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Heico Corporation presently has an average rating of “Hold” and an average price target of $91.00.

Heico Corporation (HEI) opened at 85.40 on Friday. The stock has a 50 day moving average price of $83.38 and a 200 day moving average price of $74.41. Heico Corporation has a 12 month low of $52.56 and a 12 month high of $87.36. The stock has a market capitalization of $7.21 billion, a P/E ratio of 41.82 and a beta of 0.76.

Heico Corporation (NYSE:HEI) last posted its earnings results on Wednesday, August 23rd. The aerospace company reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.01. Heico Corporation had a net margin of 12.04% and a return on equity of 15.56%. The business had revenue of $391.50 million for the quarter, compared to analyst estimates of $390.55 million. During the same period in the prior year, the company posted $0.62 EPS. The company’s revenue for the quarter was up 9.9% on a year-over-year basis. Equities analysts predict that Heico Corporation will post $2.10 EPS for the current fiscal year.

COPYRIGHT VIOLATION NOTICE: “Heico Corporation (HEI) Downgraded by Zacks Investment Research” was reported by American Banking News and is owned by of American Banking News. If you are viewing this piece of content on another publication, it was stolen and republished in violation of international trademark & copyright legislation. The legal version of this piece of content can be read at https://www.americanbankingnews.com/2017/09/09/heico-corporation-hei-downgraded-by-zacks-investment-research.html.

Institutional investors have recently modified their holdings of the stock. Suntrust Banks Inc. lifted its stake in Heico Corporation by 1.5% in the 2nd quarter. Suntrust Banks Inc. now owns 12,918 shares of the aerospace company’s stock worth $927,000 after purchasing an additional 194 shares in the last quarter. Steinberg Global Asset Management lifted its stake in Heico Corporation by 1.4% in the 1st quarter. Steinberg Global Asset Management now owns 15,624 shares of the aerospace company’s stock worth $1,362,000 after purchasing an additional 209 shares in the last quarter. Raymond James Financial Services Advisors Inc. lifted its stake in Heico Corporation by 2.5% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 9,749 shares of the aerospace company’s stock worth $850,000 after purchasing an additional 234 shares in the last quarter. Parkside Financial Bank & Trust lifted its stake in Heico Corporation by 23.6% in the 2nd quarter. Parkside Financial Bank & Trust now owns 1,482 shares of the aerospace company’s stock worth $106,000 after purchasing an additional 283 shares in the last quarter. Finally, D.A. Davidson & CO. lifted its stake in Heico Corporation by 24.7% in the 2nd quarter. D.A. Davidson & CO. now owns 2,536 shares of the aerospace company’s stock worth $182,000 after purchasing an additional 502 shares in the last quarter. 26.44% of the stock is currently owned by hedge funds and other institutional investors.

Heico Corporation Company Profile

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.