Heico Corporation (HEI) Upgraded to Buy at Zacks Investment Research
Heico Corporation (NYSE:HEI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday. The firm presently has a $96.00 price target on the aerospace company’s stock. Zacks Investment Research‘s price target would suggest a potential upside of 13.38% from the stock’s current price.
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 equities analysts have also issued reports about the stock. Canaccord Genuity lifted their target price on shares of Heico Corporation from $91.00 to $92.00 and gave the company a “buy” rating in a report on Wednesday, August 23rd. BidaskClub lowered shares of Heico Corporation from a “strong-buy” rating to a “buy” rating in a report on Friday, August 18th. Seaport Global Securities assumed coverage on shares of Heico Corporation in a report on Tuesday. They set a “neutral” rating and a $90.00 target price for the company. Jefferies Group LLC reaffirmed a “hold” rating and set a $75.00 target price on shares of Heico Corporation in a report on Monday, June 26th. Finally, Deutsche Bank AG lowered shares of Heico Corporation from a “buy” rating to a “hold” rating and lifted their target price for the company from $80.00 to $86.00 in a report on Wednesday, August 16th. Six equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Heico Corporation currently has a consensus rating of “Hold” and an average price target of $90.89.
Heico Corporation (HEI) traded down 0.83% on Thursday, hitting $84.67. 174,514 shares of the stock traded hands. The firm has a 50-day moving average price of $84.08 and a 200-day moving average price of $74.98. The company has a market capitalization of $7.15 billion, a PE ratio of 41.46 and a beta of 0.76. Heico Corporation has a 12 month low of $52.56 and a 12 month high of $87.36.
Heico Corporation (NYSE:HEI) last posted its quarterly earnings results on Wednesday, August 23rd. The aerospace company reported $0.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.01. The company had revenue of $391.50 million during 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 15.56%. Heico Corporation’s revenue for the quarter was up 9.9% compared to the same quarter last year. During the same period last year, the firm posted $0.62 EPS. Analysts forecast that Heico Corporation will post $2.10 earnings per share for the current year.
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A number of institutional investors have recently added to or reduced their stakes in HEI. Parkside Financial Bank & Trust grew 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 valued at $106,000 after acquiring an additional 283 shares during the period. FineMark National Bank & Trust grew its stake in Heico Corporation by 35.6% in the 3rd quarter. FineMark National Bank & Trust now owns 1,644 shares of the aerospace company’s stock valued at $114,000 after acquiring an additional 432 shares during the period. D.A. Davidson & CO. grew 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 valued at $182,000 after acquiring an additional 502 shares during the period. Cambridge Investment Research Advisors Inc. acquired a new stake in Heico Corporation in the 1st quarter valued at $202,000. Finally, Brown Advisory Securities LLC acquired a new stake in Heico Corporation in the 1st quarter valued at $202,000. 26.40% of the stock is currently 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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