Heico Corporation (HEI) Receives Average Recommendation of “Buy” from Brokerages
Heico Corporation (NYSE:HEI) has earned a consensus recommendation of “Buy” from the ten ratings firms that are currently covering the firm, Marketbeat.com reports. Five analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1 year price target among brokerages that have covered the stock in the last year is $91.33.
Several research firms have commented on HEI. Credit Suisse Group reissued an “outperform” rating and set a $98.00 price target (up from $85.00) on shares of Heico Corporation in a research note on Tuesday, August 29th. Zacks Investment Research raised shares of Heico Corporation from a “hold” rating to a “buy” rating and set a $94.00 price objective for the company in a research note on Tuesday, August 29th. Bank of America Corporation raised shares of Heico Corporation from a “neutral” rating to a “buy” rating and upped their price objective for the company from $75.00 to $95.00 in a research note on Tuesday, August 29th. Jefferies Group LLC reaffirmed a “hold” rating and set a $89.00 target price (up previously from $75.00) on shares of Heico Corporation in a report on Thursday, August 24th. Finally, Canaccord Genuity reaffirmed a “buy” rating and set a $91.00 target price (up previously from $80.00) on shares of Heico Corporation in a report on Thursday, August 10th.
In related 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 value of $1,525,600.00. Following the transaction, the vice president now directly owns 31,110 shares of the company’s stock, valued at $2,373,070.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 9.76% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Parkside Financial Bank & Trust increased its holdings in Heico Corporation by 23.6% during the 2nd quarter. Parkside Financial Bank & Trust now owns 1,482 shares of the aerospace company’s stock valued at $106,000 after purchasing an additional 283 shares during the period. D.A. Davidson & CO. raised its position in Heico Corporation by 24.7% during the 2nd quarter. D.A. Davidson & CO. now owns 2,536 shares of the aerospace company’s stock valued at $182,000 after purchasing an additional 502 shares during the last quarter. Cambridge Investment Research Advisors Inc. bought a new position in Heico Corporation during the 1st quarter valued at approximately $202,000. Brown Advisory Securities LLC bought a new position in Heico Corporation during the 1st quarter valued at approximately $202,000. Finally, Comerica Bank bought a new position in Heico Corporation during the 2nd quarter valued at approximately $209,000. 26.41% of the stock is currently owned by institutional investors.
Heico Corporation (NYSE HEI) traded up 2.21% during midday trading on Wednesday, reaching $89.35. 440,838 shares of the company’s stock were exchanged. The stock has a market cap of $7.55 billion, a PE ratio of 43.76 and a beta of 0.74. Heico Corporation has a 12 month low of $52.56 and a 12 month high of $91.32. The firm has a 50 day moving average of $86.08 and a 200-day moving average of $77.01.
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, topping the Thomson Reuters’ consensus estimate of $0.52 by $0.01. Heico Corporation had a return on equity of 15.56% and a net margin of 12.04%. The business had revenue of $391.50 million during the quarter, compared to analyst estimates of $390.55 million. During the same quarter in the prior year, the firm earned $0.62 earnings per share. Heico Corporation’s revenue for the quarter was up 9.9% on a year-over-year basis. On average, equities research analysts predict that Heico Corporation will post $2.10 earnings per share for the current year.
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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