Heico (NYSE:HEI) Downgraded by Wall Street Zen to Hold

Wall Street Zen downgraded shares of Heico (NYSE:HEI) from a buy rating to a hold rating in a research report report published on Sunday.

A number of other research firms have also recently commented on HEI. Susquehanna initiated coverage on Heico in a report on Friday, January 23rd. They set a “neutral” rating and a $385.00 price target on the stock. Stifel Nicolaus set a $370.00 price objective on Heico and gave the stock a “buy” rating in a research note on Monday, December 22nd. UBS Group reiterated a “neutral” rating and set a $371.00 target price (up from $359.00) on shares of Heico in a research report on Monday, December 22nd. BNP Paribas Exane raised Heico from a “neutral” rating to an “outperform” rating in a research note on Friday, February 27th. Finally, Truist Financial boosted their price target on Heico from $366.00 to $391.00 and gave the stock a “buy” rating in a report on Tuesday, December 23rd. Eleven analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $364.43.

Heico Stock Performance

Shares of NYSE HEI opened at $303.45 on Friday. The firm has a fifty day moving average price of $335.50 and a 200-day moving average price of $323.24. The company has a debt-to-equity ratio of 0.55, a current ratio of 3.06 and a quick ratio of 1.41. The stock has a market cap of $42.29 billion, a PE ratio of 59.97, a price-to-earnings-growth ratio of 3.72 and a beta of 1.01. Heico has a 1 year low of $229.07 and a 1 year high of $361.69.

Heico (NYSE:HEI) last announced its quarterly earnings data on Wednesday, February 25th. The aerospace company reported $1.35 EPS for the quarter, beating the consensus estimate of $1.26 by $0.09. Heico had a net margin of 15.38% and a return on equity of 16.57%. The firm had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.17 billion. During the same period last year, the firm earned $1.20 EPS. The company’s revenue was up 14.4% on a year-over-year basis. Equities analysts anticipate that Heico will post 4.2 earnings per share for the current fiscal year.

Heico Dividend Announcement

The firm also recently declared a dividend, which was paid on Tuesday, January 20th. Investors of record on Monday, January 5th were paid a dividend of $0.12 per share. The ex-dividend date of this dividend was Monday, January 5th. This represents a yield of 7.0%. Heico’s dividend payout ratio is presently 4.74%.

Hedge Funds Weigh In On Heico

A number of institutional investors and hedge funds have recently made changes to their positions in the business. CPC Advisors LLC bought a new position in shares of Heico in the 3rd quarter valued at about $2,318,000. Vinva Investment Management Ltd increased its stake in Heico by 849.8% during the second quarter. Vinva Investment Management Ltd now owns 14,323 shares of the aerospace company’s stock worth $4,698,000 after acquiring an additional 12,815 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in Heico during the second quarter valued at approximately $1,086,000. Lombard Odier Asset Management USA Corp raised its position in Heico by 54.8% during the second quarter. Lombard Odier Asset Management USA Corp now owns 9,181 shares of the aerospace company’s stock valued at $3,011,000 after purchasing an additional 3,249 shares during the period. Finally, Sumitomo Life Insurance Co. lifted its stake in shares of Heico by 97.3% in the 3rd quarter. Sumitomo Life Insurance Co. now owns 9,920 shares of the aerospace company’s stock valued at $3,202,000 after purchasing an additional 4,892 shares during the last quarter. 27.12% of the stock is owned by hedge funds and other institutional investors.

About Heico

HEICO Corporation is an aerospace, defense and electronics company that designs, manufactures, and sells a range of products and provides repair and aftermarket services. Headquartered in Hollywood, Florida, HEICO supplies replacement components, repair services and engineered systems for commercial and business aviation, military and space markets as well as for selected industrial and medical customers. The company’s offerings are focused on sustaining and improving the reliability and availability of complex equipment across its end markets.

HEICO operates through two principal business areas.