Heico Corporation (HEI) Price Target Raised to $92.00
Heico Corporation (NYSE:HEI) had its price target increased by Canaccord Genuity from $91.00 to $92.00 in a research report sent to investors on Wednesday morning. Canaccord Genuity currently has a buy rating on the aerospace company’s stock.
HEI has been the subject of a number of other research reports. Deutsche Bank AG lowered shares of Heico Corporation from a buy rating to a hold rating and boosted their price target for the company from $80.00 to $86.00 in a research note on Wednesday, August 16th. BidaskClub lowered shares of Heico Corporation from a strong-buy rating to a buy rating in a research note on Friday, August 18th. Zacks Investment Research lowered shares of Heico Corporation from a buy rating to a hold rating in a research note on Wednesday, May 31st. Finally, Jefferies Group LLC restated a hold rating and set a $75.00 price target on shares of Heico Corporation in a research note on Monday, June 26th. Seven investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Heico Corporation presently has a consensus rating of Hold and an average target price of $85.13.
Shares of Heico Corporation (HEI) traded up 1.20% during midday trading on Wednesday, hitting $84.35. 311,604 shares of the company’s stock were exchanged. The firm has a market cap of $7.13 billion, a price-to-earnings ratio of 41.31 and a beta of 0.76. The company has a 50-day moving average of $81.10 and a 200-day moving average of $73.02. Heico Corporation has a 52 week low of $52.56 and a 52 week high of $87.36.
Heico Corporation (NYSE:HEI) last released its earnings results on Wednesday, August 23rd. The aerospace company reported $0.53 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.52 by $0.01. Heico Corporation had a net margin of 12.04% and a return on equity of 15.94%. The company had revenue of $391.50 million for the quarter, compared to the consensus estimate of $390.55 million. During the same quarter in the previous year, the company earned $0.62 EPS. Heico Corporation’s quarterly revenue was up 9.9% compared to the same quarter last year. Equities research analysts expect that Heico Corporation will post $2.10 EPS for the current fiscal year.
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Several hedge funds have recently bought and sold shares of HEI. Parkside Financial Bank & Trust raised its stake in Heico Corporation by 23.6% in the second quarter. Parkside Financial Bank & Trust now owns 1,482 shares of the aerospace company’s stock valued at $106,000 after buying an additional 283 shares during the last quarter. D.A. Davidson & CO. raised its stake in Heico Corporation by 24.7% in the second quarter. D.A. Davidson & CO. now owns 2,536 shares of the aerospace company’s stock valued at $182,000 after buying an additional 502 shares during the last quarter. Cambridge Investment Research Advisors Inc. purchased a new stake in Heico Corporation during the first quarter valued at about $202,000. Brown Advisory Securities LLC purchased a new stake in Heico Corporation during the first quarter valued at about $202,000. Finally, Comerica Bank purchased a new stake in Heico Corporation during the second quarter valued at about $209,000. Hedge funds and other institutional investors own 23.05% of the company’s stock.
About Heico Corporation
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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