Heico Corporation (HEI) Rating Lowered to Hold at Zacks Investment Research
Heico Corporation (NYSE:HEI) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Monday.
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. “
Several other analysts also recently issued reports on the stock. Seaport Global Securities began coverage on shares of Heico Corporation in a research report on Tuesday, September 12th. They issued a “neutral” rating and a $90.00 price target for the company. Credit Suisse Group reaffirmed an “outperform” rating and set a $98.00 price objective (up from $85.00) on shares of Heico Corporation in a report on Tuesday, August 29th. Bank of America Corporation raised shares of Heico Corporation from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $75.00 to $95.00 in a report on Tuesday, August 29th. Jefferies Group LLC reaffirmed a “hold” rating and set a $89.00 price objective (up from $75.00) on shares of Heico Corporation in a report on Thursday, August 24th. Finally, BidaskClub downgraded shares of Heico Corporation from a “buy” rating to a “hold” rating in a report on Thursday, August 24th. Six equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Heico Corporation presently has an average rating of “Hold” and an average target price of $91.33.
Shares of Heico Corporation (NYSE:HEI) traded down 1.12% on Monday, reaching $89.46. 178,151 shares of the company traded hands. Heico Corporation has a one year low of $52.56 and a one year high of $91.32. The company has a market capitalization of $7.56 billion, a PE ratio of 43.81 and a beta of 0.76. The firm has a 50-day moving average price of $84.62 and a 200 day moving average price of $75.51.
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, beating 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 during the quarter, compared to the consensus estimate of $390.55 million. During the same quarter last year, the firm posted $0.62 EPS. Heico Corporation’s revenue was up 9.9% compared to the same quarter last year. Equities analysts forecast that Heico Corporation will post $2.10 EPS for the current fiscal year.
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In other Heico Corporation news, VP Thomas S. Irwin sold 20,000 shares of Heico Corporation stock in a transaction on Thursday, September 21st. The shares were sold at an average price of $76.28, for a total transaction of $1,525,600.00. Following the transaction, the vice president now directly owns 31,110 shares of the company’s stock, valued at approximately $2,373,070.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 9.76% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Parkside Financial Bank & Trust boosted its holdings in shares of 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 buying an additional 283 shares during the last quarter. Brown Advisory Securities LLC purchased a new position in shares of Heico Corporation in the 1st quarter worth about $202,000. Cambridge Investment Research Advisors Inc. purchased a new position in shares of Heico Corporation in the 1st quarter worth about $202,000. D.A. Davidson & CO. boosted its holdings in shares of 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 buying an additional 502 shares during the last quarter. Finally, Comerica Bank purchased a new position in shares of Heico Corporation in the 2nd quarter worth about $209,000. 26.41% 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.
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