Heico Corp. (NYSE:HEI) Receives Average Recommendation of “Hold” from Analysts
Heico Corp. (NYSE:HEI) has been given a consensus recommendation of “Hold” by the six analysts that are currently covering the firm. Five analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $74.25.
Several research analysts have recently issued reports on the stock. Canaccord Genuity boosted their price objective on shares of Heico Corp. from $75.00 to $82.00 in a report on Friday, August 19th. Credit Suisse Group AG boosted their price objective on shares of Heico Corp. from $62.00 to $68.00 and gave the stock a “neutral” rating in a report on Thursday, August 25th. Jefferies Group restated a “hold” rating and set a $72.00 price objective on shares of Heico Corp. in a report on Thursday, August 25th. Zacks Investment Research downgraded shares of Heico Corp. from a “buy” rating to a “hold” rating in a report on Tuesday, August 2nd. Finally, Bank of America Corp. downgraded shares of Heico Corp. from a “buy” rating to a “neutral” rating and set a $75.00 price objective on the stock. in a report on Tuesday, August 30th. They noted that the move was a valuation call.
Shares of Heico Corp. (NYSE:HEI) opened at 68.48 on Friday. Heico Corp. has a 52 week low of $47.86 and a 52 week high of $75.01. The firm has a market cap of $4.61 billion, a price-to-earnings ratio of 30.99 and a beta of 0.55. The firm has a 50 day moving average of $69.77 and a 200 day moving average of $65.75.
Heico Corp. (NYSE:HEI) last posted its quarterly earnings data on Wednesday, August 24th. The company reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.03. Heico Corp. had a net margin of 11.19% and a return on equity of 15.99%. The company had revenue of $356.10 million for the quarter, compared to the consensus estimate of $356.35 million. During the same quarter in the previous year, the firm posted $0.51 EPS. The business’s revenue was up 18.5% compared to the same quarter last year. Equities analysts predict that Heico Corp. will post $2.15 earnings per share for the current fiscal year.
Several hedge funds have recently modified their holdings of HEI. WESPAC Advisors LLC purchased a new position in Heico Corp. during the second quarter worth approximately $465,000. 1st Global Advisors Inc. raised its position in Heico Corp. by 0.9% in the second quarter. 1st Global Advisors Inc. now owns 10,629 shares of the company’s stock worth $710,000 after buying an additional 96 shares during the period. Bath Savings Trust Co purchased a new position in Heico Corp. during the second quarter worth approximately $492,000. Thomson Horstmann & Bryant Inc. purchased a new position in Heico Corp. during the second quarter worth approximately $620,000. Finally, Eagle Asset Management Inc. raised its position in Heico Corp. by 100.3% in the second quarter. Eagle Asset Management Inc. now owns 199,673 shares of the company’s stock worth $13,340,000 after buying an additional 100,009 shares during the period. Institutional investors and hedge funds own 28.08% of the company’s stock.
Heico Corp. Company Profile
HEICO Corporation is an aerospace and electronics company. The Company provides commercial aircraft replacement parts, aircraft accessories component repair and overhaul services for avionic, electro-mechanical, flight surface, hydraulic and pneumatic applications; distributes aircraft parts, and manufactures other critical aircraft parts.
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