B/E Aerospace Inc. (BEAV) Upgraded to Buy by Zacks Investment Research
Zacks Investment Research upgraded shares of B/E Aerospace Inc. (NASDAQ:BEAV) from a hold rating to a buy rating in a research report sent to investors on Friday morning. They currently have $66.00 target price on the stock.
According to Zacks, “B/E Aerospace, Inc. operates as a manufacturer of aircraft passenger cabin interior products for the commercial and business jet aircraft markets and distributor of aerospace fasteners and consumables. It operates in three segments: commercial aircraft, consumables management and business jet. B/E Aerospace’s commercial aircraft segment includes seating products, interior systems and engineering services for commercial aircraft, and thermal and power management for the commercial and military aerospace markets. Its Consumables Management segment provides inventory management and replenishment, electronic data interchange, special packaging and bar-coding, parts kitting, quality assurance testing, and purchasing assistance services; and creative and differential supply chain solutions. The company’s Business Jet segment offers a complete line of business jet seating and divan products from traditional designs to unique lie-flat offerings. B/E Aerospace, Inc. is headquartered in Wellington, Florida. “
A number of other brokerages have also recently commented on BEAV. Goldman Sachs Group Inc. cut B/E Aerospace from a buy rating to a neutral rating and decreased their target price for the stock from $56.00 to $52.00 in a report on Wednesday, October 12th. Citigroup Inc. raised their target price on B/E Aerospace from $60.00 to $62.00 and gave the stock a buy rating in a report on Monday, October 10th. Deutsche Bank AG raised their target price on B/E Aerospace from $55.00 to $66.00 and gave the stock a buy rating in a report on Wednesday, October 5th. Gabelli cut B/E Aerospace from a buy rating to a hold rating in a report on Tuesday, October 25th. Finally, Credit Suisse Group AG cut B/E Aerospace from an outperform rating to a neutral rating in a report on Tuesday, October 25th. Twelve research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. B/E Aerospace presently has a consensus rating of Hold and a consensus price target of $56.25.
Shares of B/E Aerospace (NASDAQ:BEAV) traded up 0.19% during mid-day trading on Friday, hitting $59.24. The company’s stock had a trading volume of 138,399 shares. The stock’s 50 day moving average price is $55.66 and its 200 day moving average price is $49.93. B/E Aerospace has a 52-week low of $36.38 and a 52-week high of $60.29. The company has a market cap of $6.02 billion, a price-to-earnings ratio of 18.06 and a beta of 0.90.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 16th. Stockholders of record on Monday, November 21st will be paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 1.42%. The ex-dividend date of this dividend is Thursday, November 17th. B/E Aerospace’s dividend payout ratio is presently 25.53%.
Several hedge funds have recently bought and sold shares of BEAV. CIBC Asset Management Inc increased its position in shares of B/E Aerospace by 1.0% in the second quarter. CIBC Asset Management Inc now owns 5,299 shares of the company’s stock worth $245,000 after buying an additional 52 shares during the period. Advisor Group Inc. increased its position in shares of B/E Aerospace by 3.4% in the third quarter. Advisor Group Inc. now owns 2,427 shares of the company’s stock worth $125,000 after buying an additional 80 shares during the period. Baird Financial Group Inc. increased its position in shares of B/E Aerospace by 1.4% in the second quarter. Baird Financial Group Inc. now owns 6,965 shares of the company’s stock worth $321,000 after buying an additional 95 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its position in shares of B/E Aerospace by 0.7% in the second quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 14,512 shares of the company’s stock worth $670,000 after buying an additional 98 shares during the period. Finally, 1st Global Advisors Inc. increased its position in shares of B/E Aerospace by 2.1% in the second quarter. 1st Global Advisors Inc. now owns 5,652 shares of the company’s stock worth $261,000 after buying an additional 115 shares during the period. 96.42% of the stock is owned by hedge funds and other institutional investors.
About B/E Aerospace
B/E Aerospace, Inc is a manufacturer of cabin interior products for commercial aircraft and business jets. The Company sells its products and provides services to various airlines and aerospace manufacturers across the world. It operates through two segments: commercial aircraft (CAS) and business jet (BJS).
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