B/E Aerospace Inc. (BEAV) Downgraded by Zacks Investment Research to Hold
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. “
Several other brokerages have also weighed in on BEAV. Goldman Sachs Group Inc. lowered shares of B/E Aerospace from a buy rating to a neutral rating and decreased their target price for the company from $56.00 to $52.00 in a research report on Wednesday, October 12th. Deutsche Bank AG lifted their target price on shares of B/E Aerospace from $55.00 to $66.00 and gave the company a buy rating in a research report on Wednesday, October 5th. Citigroup Inc. lifted their target price on shares of B/E Aerospace from $60.00 to $62.00 and gave the company a buy rating in a research report on Monday, October 10th. Gabelli lowered shares of B/E Aerospace from a buy rating to a hold rating in a research report on Tuesday, October 25th. Finally, Credit Suisse Group AG lowered shares of B/E Aerospace from an outperform rating to a neutral rating in a research report on Tuesday, October 25th. Thirteen investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. B/E Aerospace presently has a consensus rating of Hold and a consensus price target of $56.25.
B/E Aerospace (NASDAQ:BEAV) opened at 59.03 on Monday. The stock has a 50 day moving average of $55.96 and a 200 day moving average of $50.11. B/E Aerospace has a 12-month low of $36.38 and a 12-month high of $60.29. The company has a market capitalization of $6.00 billion, a PE ratio of 17.99 and a beta of 0.90.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 16th. Investors of record on Monday, November 21st will be issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 1.42%. The ex-dividend date of this dividend is Thursday, November 17th. B/E Aerospace’s payout ratio is 25.53%.
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. ETRADE Capital Management LLC acquired a new position in shares of B/E Aerospace during the third quarter valued at approximately $281,000. Price T Rowe Associates Inc. MD boosted its position in shares of B/E Aerospace by 3.2% in the third quarter. Price T Rowe Associates Inc. MD now owns 32,292 shares of the company’s stock valued at $1,668,000 after buying an additional 1,000 shares during the last quarter. Xact Kapitalforvaltning AB acquired a new position in shares of B/E Aerospace during the third quarter valued at approximately $1,766,000. Scopus Asset Management L.P. acquired a new position in shares of B/E Aerospace during the third quarter valued at approximately $5,715,000. Finally, TPG Group Holdings SBS Advisors Inc. boosted its position in shares of B/E Aerospace by 7.8% in the third quarter. TPG Group Holdings SBS Advisors Inc. now owns 440,365 shares of the company’s stock valued at $22,749,000 after buying an additional 31,733 shares during the last quarter. Institutional investors and hedge funds own 96.42% of the company’s stock.
B/E Aerospace Company Profile
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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