Zacks Investment Research upgraded shares of Heico Corporation (NYSE:HEI) from a hold rating to a buy rating in a report released on Thursday morning. They currently have $96.00 price objective on the aerospace company’s stock.
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 subject of several other research reports. Seaport Global Securities assumed coverage on Heico Corporation in a research note on Tuesday, September 12th. They set a neutral rating and a $90.00 target price for the company. Jefferies Group LLC reaffirmed a hold rating and set a $75.00 target price on shares of Heico Corporation in a research note on Monday, June 26th. Bank of America Corporation raised Heico Corporation from a neutral rating to a buy rating and raised their target price for the company from $75.00 to $95.00 in a research note on Tuesday, August 29th. Canaccord Genuity raised their target price on Heico Corporation from $91.00 to $92.00 and gave the company a buy rating in a research note on Wednesday, August 23rd. Finally, BidaskClub cut Heico Corporation from a buy rating to a hold rating in a research note on Thursday, August 24th. Six investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus price target of $90.89.
Shares of Heico Corporation (NYSE:HEI) opened at 84.57 on Thursday. The company has a 50 day moving average of $84.21 and a 200 day moving average of $75.11. The stock has a market capitalization of $7.14 billion, a price-to-earnings ratio of 41.42 and a beta of 0.76. Heico Corporation has a 52-week low of $52.56 and a 52-week high of $87.36.
Heico Corporation (NYSE:HEI) last issued its quarterly earnings results on Wednesday, August 23rd. The aerospace company reported $0.53 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.01. The company had revenue of $391.50 million for the quarter, compared to analyst estimates of $390.55 million. Heico Corporation had a return on equity of 15.56% and a net margin of 12.04%. The company’s quarterly revenue was up 9.9% compared to the same quarter last year. During the same period last year, the company earned $0.62 earnings per share. Analysts predict that Heico Corporation will post $2.10 EPS for the current fiscal year.
Several large investors have recently added to or reduced their stakes in the stock. Riverbridge Partners LLC boosted its position in shares of Heico Corporation by 21.8% in the 2nd quarter. Riverbridge Partners LLC now owns 1,621,457 shares of the aerospace company’s stock valued at $116,486,000 after purchasing an additional 290,014 shares during the period. Fisher Asset Management LLC boosted its position in shares of Heico Corporation by 20.7% in the 2nd quarter. Fisher Asset Management LLC now owns 1,170,462 shares of the aerospace company’s stock valued at $84,086,000 after purchasing an additional 200,591 shares during the period. PNC Financial Services Group Inc. boosted its position in shares of Heico Corporation by 3.7% in the 2nd quarter. PNC Financial Services Group Inc. now owns 674,898 shares of the aerospace company’s stock valued at $48,483,000 after purchasing an additional 24,299 shares during the period. Ardevora Asset Management LLP boosted its position in shares of Heico Corporation by 32.9% in the 2nd quarter. Ardevora Asset Management LLP now owns 524,323 shares of the aerospace company’s stock valued at $37,667,000 after purchasing an additional 129,823 shares during the period. Finally, First Trust Advisors LP boosted its position in shares of Heico Corporation by 42.7% in the 2nd quarter. First Trust Advisors LP now owns 419,333 shares of the aerospace company’s stock valued at $30,125,000 after purchasing an additional 125,544 shares during the period. Institutional investors and hedge funds own 26.41% of the company’s stock.
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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