Heico Corporation (HEI) Cut to “Hold” at BidaskClub
BidaskClub downgraded shares of Heico Corporation (NYSE:HEI) from a buy rating to a hold rating in a research report report published on Thursday morning.
A number of other brokerages also recently weighed in on HEI. Zacks Investment Research raised shares of Heico Corporation from a hold rating to a buy rating and set a $83.00 price target on the stock in a report on Tuesday, May 30th. Canaccord Genuity reissued a buy rating and issued a $80.00 price target on shares of Heico Corporation in a report on Monday, May 22nd. Deutsche Bank AG downgraded shares of Heico Corporation from a buy rating to a hold rating and boosted their price target for the stock from $80.00 to $86.00 in a report on Wednesday, August 16th. Finally, Jefferies Group LLC reissued a hold rating and issued a $73.00 price target (up from $68.00) on shares of Heico Corporation in a report on Wednesday, April 26th. Seven equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Heico Corporation currently has a consensus rating of Hold and an average price target of $85.13.
Heico Corporation (HEI) opened at 84.35 on Thursday. The firm has a market cap of $7.13 billion, a price-to-earnings ratio of 41.31 and a beta of 0.76. Heico Corporation has a 52-week low of $52.56 and a 52-week high of $87.36. The firm’s 50-day moving average is $81.10 and its 200-day moving average is $73.02.
Heico Corporation (NYSE:HEI) last issued its quarterly earnings results on Wednesday, August 23rd. The aerospace company reported $0.53 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.52 by $0.01. The company had revenue of $391.50 million for the quarter, compared to the consensus estimate of $390.55 million. Heico Corporation had a net margin of 12.04% and a return on equity of 15.94%. The firm’s quarterly revenue was up 9.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.62 EPS. Analysts forecast that Heico Corporation will post $2.10 EPS for the current fiscal year.
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A number of large investors have recently added to or reduced their stakes in the stock. Parkside Financial Bank & Trust increased 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 period. D.A. Davidson & CO. increased 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 period. Cambridge Investment Research Advisors Inc. acquired a new stake in Heico Corporation during the first quarter valued at approximately $202,000. Brown Advisory Securities LLC acquired a new stake in Heico Corporation during the first quarter valued at approximately $202,000. Finally, Comerica Bank acquired a new stake in Heico Corporation during the second quarter valued at approximately $209,000. 26.41% of the stock is currently owned by institutional investors and hedge funds.
Heico Corporation Company Profile
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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