Heico (HEI) Upgraded to “Buy” at Zacks Investment Research
Heico (NYSE:HEI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday. The brokerage presently has a $99.00 price target on the aerospace company’s stock. Zacks Investment Research‘s price objective points to a potential upside of 11.42% from the stock’s previous close.
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. “
HEI has been the topic of several other reports. Seaport Global Securities assumed coverage on Heico in a research note on Tuesday, September 12th. They issued a “neutral” rating and a $90.00 price objective on the stock. SunTrust Banks lifted their price objective on Heico to $96.00 and gave the company a “buy” rating in a research note on Monday. Bank of America raised Heico from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $75.00 to $95.00 in a research note on Tuesday, August 29th. Canaccord Genuity lifted their price objective on Heico from $91.00 to $92.00 and gave the company a “buy” rating in a research note on Wednesday, August 23rd. Finally, BidaskClub lowered Heico from a “buy” rating to a “hold” rating in a research note on Thursday, August 24th. Five analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $92.78.
In related news, Director Mark H. Hildebrandt purchased 1,316 shares of Heico stock in a transaction that occurred on Thursday, October 5th. The shares were purchased at an average cost of $76.13 per share, with a total value of $100,187.08. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Thomas S. Irwin sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, September 21st. The stock was 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 in the company, valued at $2,373,070.80. The disclosure for this sale can be found here. Insiders own 9.76% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the stock. 1st Global Advisors Inc. lifted its position in Heico by 0.9% during the 2nd quarter. 1st Global Advisors Inc. now owns 10,629 shares of the aerospace company’s stock worth $710,000 after acquiring an additional 96 shares in the last quarter. Bell Bank increased its holdings in Heico by 4.4% during the 1st quarter. Bell Bank now owns 3,943 shares of the aerospace company’s stock worth $344,000 after purchasing an additional 165 shares during the last quarter. Suntrust Banks Inc. increased its holdings in Heico by 1.5% during 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 during the last quarter. Steinberg Global Asset Management increased its holdings in Heico by 1.4% during 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 during the last quarter. Finally, Bell State Bank & Trust increased its holdings in Heico by 6.3% during the 3rd quarter. Bell State Bank & Trust now owns 3,688 shares of the aerospace company’s stock worth $255,000 after purchasing an additional 220 shares during the last quarter. 26.97% of the stock is currently owned by hedge funds and other institutional investors.
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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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