Heico Corporation (NYSE:HEI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Tuesday. The brokerage presently has a $94.00 target price on the aerospace company’s stock. Zacks Investment Research‘s target price points to a potential upside of 12.91% from the stock’s previous close.

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. “

A number of other research firms have also weighed in on HEI. Canaccord Genuity increased their price objective on Heico Corporation from $91.00 to $92.00 and gave the company a “buy” rating in a research note on Wednesday, August 23rd. BidaskClub lowered Heico Corporation from a “strong-buy” rating to a “buy” rating in a research note on Friday, August 18th. Jefferies Group LLC reissued a “hold” rating and set a $75.00 price objective on shares of Heico Corporation in a research note on Monday, June 26th. Finally, Deutsche Bank AG lowered Heico Corporation from a “buy” rating to a “hold” rating and increased their price objective for the company from $80.00 to $86.00 in a research note on Wednesday, August 16th. Six analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $86.75.

Shares of Heico Corporation (NYSE HEI) opened at 83.25 on Tuesday. Heico Corporation has a 1-year low of $52.56 and a 1-year high of $87.36. The company has a market capitalization of $7.03 billion, a P/E ratio of 40.77 and a beta of 0.76. The company’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 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.01. Heico Corporation had a net margin of 12.04% and a return on equity of 15.94%. The business had revenue of $391.50 million for the quarter, compared to analysts’ expectations of $390.55 million. During the same period last year, the business earned $0.62 earnings per share. The business’s quarterly revenue was up 9.9% on a year-over-year basis. On average, equities research analysts forecast that Heico Corporation will post $2.10 EPS for the current year.

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Hedge funds have recently made changes to their positions in the company. First Trust Advisors LP raised its stake in shares of 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 last quarter. Advisors Asset Management Inc. raised its stake in shares of 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 last quarter. Tygh Capital Management Inc. acquired a new stake in shares of Heico Corporation during the first quarter worth approximately $5,592,000. Suntrust Banks Inc. raised its stake in shares of Heico Corporation by 19.4% in the first quarter. Suntrust Banks Inc. now owns 12,724 shares of the aerospace company’s stock worth $1,109,000 after buying an additional 2,067 shares during the last quarter. Finally, Ardevora Asset Management LLP raised its stake in shares of Heico Corporation by 2.4% in the first quarter. Ardevora Asset Management LLP now owns 394,500 shares of the aerospace company’s stock worth $34,400,000 after buying an additional 9,300 shares during the last quarter. 26.41% of the stock is owned by institutional investors.

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.

Analyst Recommendations for Heico Corporation (NYSE:HEI)

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