Heico Corporation (HEI) Downgraded to Hold at Zacks Investment Research
Zacks Investment Research cut shares of Heico Corporation (NYSE:HEI) from a buy rating to a hold rating in a research note published on Wednesday morning.
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. “
Several other equities research analysts have also commented on the company. Canaccord Genuity upped their price target on Heico Corporation from $77.00 to $80.00 and gave the stock a buy rating in a research note on Wednesday, May 3rd. 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. Deutsche Bank AG lowered Heico Corporation from a buy rating to a hold rating and upped their price target for the stock from $80.00 to $86.00 in a research note on Wednesday, August 16th. Finally, BidaskClub lowered Heico Corporation from a strong-buy rating to a buy rating in a research note on Friday, August 18th. Seven analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Heico Corporation currently has an average rating of Hold and an average price target of $85.13.
Shares of Heico Corporation (NYSE:HEI) traded up 1.20% during mid-day trading on Wednesday, hitting $84.35. The company had a trading volume of 311,604 shares. The company has a market cap of $7.13 billion, a PE ratio of 41.31 and a beta of 0.76. Heico Corporation has a 12 month low of $52.56 and a 12 month high of $87.36. The firm has a 50-day moving average of $81.10 and a 200-day moving average of $73.02.
Heico Corporation (NYSE:HEI) last announced its quarterly earnings results on Wednesday, August 23rd. The aerospace company reported $0.53 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.52 by $0.01. The company had revenue of $391.50 million during the quarter, compared to analyst estimates of $390.55 million. Heico Corporation had a return on equity of 15.94% and a net margin of 12.04%. The firm’s revenue was up 9.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.62 earnings per share. On average, analysts expect that Heico Corporation will post $2.10 EPS for the current year.
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Several large investors have recently bought and sold shares of HEI. Virginia Retirement Systems ET AL raised its stake in Heico Corporation by 10.3% in the first quarter. Virginia Retirement Systems ET AL now owns 8,600 shares of the aerospace company’s stock worth $750,000 after buying an additional 800 shares during the period. Concorde Asset Management LLC raised its stake in Heico Corporation by 290.5% in the second quarter. Concorde Asset Management LLC now owns 10,219 shares of the aerospace company’s stock worth $734,000 after buying an additional 7,602 shares during the period. Advisors Asset Management Inc. raised its stake in Heico Corporation by 36.3% in the first quarter. Advisors Asset Management Inc. now owns 38,461 shares of the aerospace company’s stock worth $3,354,000 after buying an additional 10,243 shares during the period. First Trust Advisors LP raised its stake in Heico Corporation by 1.7% in the first quarter. First Trust Advisors LP now owns 293,789 shares of the aerospace company’s stock worth $25,618,000 after buying an additional 4,938 shares during the period. Finally, Artisan Partners Limited Partnership raised its stake in Heico Corporation by 37.7% in the first quarter. Artisan Partners Limited Partnership now owns 182,834 shares of the aerospace company’s stock worth $15,943,000 after buying an additional 50,025 shares during the period. Institutional investors and hedge funds 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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