Heico (NYSE:HEI) Stock Rating Cut to Hold at Wall Street Zen

Wall Street Zen cut shares of Heico (NYSE:HEI) from a buy rating to a hold rating in a report released on Saturday morning,Wall Street Zen reports.

HEI has been the subject of several other research reports. UBS Group restated a “neutral” rating and issued a $396.00 price target (up from $382.00) on shares of Heico in a research note on Thursday, August 27th. Guggenheim assumed coverage on Heico in a report on Monday, September 14th. They issued a “neutral” rating on the stock. Weiss Ratings upgraded Heico from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, July 16th. Zacks Research raised Heico from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, June 9th. Finally, The Goldman Sachs Group reissued a “buy” rating and issued a $491.00 price target on shares of Heico in a research note on Monday, August 31st. Three equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, Heico presently has an average rating of “Moderate Buy” and a consensus target price of $391.07.

Heico Price Performance

NYSE:HEI opened at $302.81 on Friday. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.72 and a quick ratio of 1.27. The company has a 50 day moving average price of $335.38 and a 200-day moving average price of $319.21. Heico has a 1-year low of $256.11 and a 1-year high of $376.86. The firm has a market cap of $42.32 billion, a price-to-earnings ratio of 50.39, a price-to-earnings-growth ratio of 2.55 and a beta of 1.09.

Heico (NYSE:HEI) last released its quarterly earnings results on Tuesday, August 25th. The aerospace company reported $1.67 EPS for the quarter, beating the consensus estimate of $1.51 by $0.16. The company had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.36 billion. Heico had a net margin of 16.38% and a return on equity of 18.00%. The firm’s revenue was up 23.1% on a year-over-year basis. During the same quarter last year, the business earned $1.26 earnings per share. Equities research analysts forecast that Heico will post 6.25 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in HEI. Diamant Asset Management Inc. grew its position in shares of Heico by 25,698.9% in the first quarter. Diamant Asset Management Inc. now owns 763,647 shares of the aerospace company’s stock valued at $209,392,000 after purchasing an additional 760,687 shares in the last quarter. Weitz Investment Management Inc. purchased a new position in Heico during the second quarter worth approximately $52,737,000. Bank of New York Mellon Corp purchased a new position in Heico during the second quarter worth approximately $54,386,000. Freestone Grove Partners LP acquired a new position in Heico during the second quarter worth $50,276,000. Finally, Munro Partners boosted its stake in Heico by 44.2% during the fourth quarter. Munro Partners now owns 284,898 shares of the aerospace company’s stock worth $92,190,000 after buying an additional 87,265 shares during the last quarter. 27.12% of the stock is owned by institutional investors and hedge funds.

About Heico

HEICO Corporation is an aerospace, defense, and electronics company that designs, manufactures, and distributes specialized products for commercial aviation, defense, space, medical, telecommunications, and other industrial markets. Founded in 1957, the company is headquartered in Hollywood, Florida, and serves customers worldwide, including airlines, original equipment manufacturers, government agencies, and defense contractors.

HEICO operates through two primary segments. Its Flight Support Group produces FAA-approved replacement parts for jet engines and aircraft components, as well as provides aircraft and engine component repair, overhaul, and maintenance services.