Heico Corporation (HEI) Lifted to “Buy” at Zacks Investment Research
Zacks Investment Research upgraded shares of Heico Corporation (NYSE:HEI) from a hold rating to a buy rating in a research note issued to investors on Thursday. Zacks Investment Research currently has $96.00 price objective on the aerospace company’s stock.
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 recently issued reports on HEI. Canaccord Genuity reiterated a buy rating and issued a $80.00 price target on shares of Heico Corporation in a research note on Monday, May 22nd. Jefferies Group LLC reiterated a hold rating and issued a $75.00 price target on shares of Heico Corporation in a research note on Monday, June 26th. Deutsche Bank AG cut 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 cut Heico Corporation from a strong-buy rating to a buy rating in a research note on Friday, August 18th. Finally, Bank of America Corporation upgraded Heico Corporation from a neutral rating to a buy rating and boosted their price target for the company from $75.00 to $95.00 in a research note on Tuesday, August 29th. Six research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Heico Corporation has an average rating of Hold and a consensus target price of $90.89.
Heico Corporation (HEI) opened at 84.57 on Thursday. The company’s 50 day moving average price is $84.21 and its 200 day moving average price is $75.11. Heico Corporation has a 52-week low of $52.56 and a 52-week high of $87.36. The company has a market cap of $7.14 billion, a P/E ratio of 41.42 and a beta of 0.76.
Heico Corporation (NYSE:HEI) last issued its quarterly earnings results on Wednesday, August 23rd. The aerospace company reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.01. The business had revenue of $391.50 million during the quarter, compared to analysts’ expectations of $390.55 million. Heico Corporation had a return on equity of 15.56% and a net margin of 12.04%. The firm’s revenue for the quarter was up 9.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.62 earnings per share. Equities research analysts anticipate that Heico Corporation will post $2.10 EPS for the current fiscal year.
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Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Parkside Financial Bank & Trust lifted its stake in Heico Corporation by 23.6% during the second quarter. Parkside Financial Bank & Trust now owns 1,482 shares of the aerospace company’s stock worth $106,000 after purchasing an additional 283 shares during the last quarter. D.A. Davidson & CO. lifted its stake in Heico Corporation by 24.7% during the second quarter. D.A. Davidson & CO. now owns 2,536 shares of the aerospace company’s stock worth $182,000 after purchasing an additional 502 shares during the last quarter. Cambridge Investment Research Advisors Inc. bought a new stake in Heico Corporation during the first quarter worth $202,000. Brown Advisory Securities LLC bought a new stake in Heico Corporation during the first quarter worth $202,000. Finally, Comerica Bank bought a new stake in Heico Corporation during the second quarter worth $209,000. Hedge funds and other institutional investors own 26.40% 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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