Heico Corporation (HEI) Lifted to “Buy” at Zacks Investment Research
Heico Corporation (NYSE:HEI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Thursday. The firm currently has a $100.00 price objective on the aerospace company’s stock. Zacks Investment Research‘s price target indicates a potential upside of 12.10% 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. “
Several other analysts have also commented on HEI. Canaccord Genuity reaffirmed a “buy” rating and set a $91.00 price target (up previously from $80.00) on shares of Heico Corporation in a research report on Thursday, August 10th. Seaport Global Securities assumed coverage on shares of Heico Corporation in a research report on Tuesday, September 12th. They set a “neutral” rating and a $90.00 price target on the stock. BidaskClub lowered shares of Heico Corporation from a “strong-buy” rating to a “buy” rating in a research report on Friday, August 18th. Deutsche Bank AG lowered shares of Heico Corporation from a “buy” rating to a “hold” rating and lifted their price target for the company from $80.00 to $86.00 in a research report on Wednesday, August 16th. Finally, Jefferies Group LLC reaffirmed a “hold” rating and set a $89.00 price target (up previously from $75.00) on shares of Heico Corporation in a research report on Thursday, August 24th. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $91.33.
Shares of Heico Corporation (NYSE HEI) traded up 0.19% during midday trading on Thursday, reaching $89.38. The company’s stock had a trading volume of 184,451 shares. The stock has a market capitalization of $7.55 billion, a PE ratio of 43.77 and a beta of 0.76. The company has a 50 day moving average price of $84.62 and a 200-day moving average price of $75.51. Heico Corporation has a 52 week low of $52.56 and a 52 week high of $89.45.
Heico Corporation (NYSE:HEI) last released its 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 business had revenue of $391.50 million for the quarter, compared to analyst estimates of $390.55 million. Heico Corporation had a net margin of 12.04% and a return on equity of 15.56%. The business’s revenue was up 9.9% on a year-over-year basis. During the same period last year, the company posted $0.62 EPS. On average, equities research analysts expect that Heico Corporation will post $2.10 EPS for the current year.
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Institutional investors have recently bought and sold shares of the stock. Nicholas Investment Partners LP increased its holdings in Heico Corporation by 111.4% in the 2nd quarter. Nicholas Investment Partners LP now owns 78,821 shares of the aerospace company’s stock valued at $5,662,000 after purchasing an additional 41,530 shares during the last quarter. Virginia Retirement Systems ET AL increased its holdings in Heico Corporation by 10.3% in the 1st quarter. Virginia Retirement Systems ET AL now owns 8,600 shares of the aerospace company’s stock valued at $750,000 after purchasing an additional 800 shares during the last quarter. Artemis Investment Management LLP acquired a new stake in Heico Corporation in the 2nd quarter valued at approximately $7,379,000. Westpac Banking Corp increased its holdings in Heico Corporation by 8.5% in the 2nd quarter. Westpac Banking Corp now owns 80,174 shares of the aerospace company’s stock valued at $5,760,000 after purchasing an additional 6,274 shares during the last quarter. Finally, AGF Investments Inc. increased its holdings in Heico Corporation by 25.0% in the 2nd quarter. AGF Investments Inc. now owns 62,500 shares of the aerospace company’s stock valued at $4,492,000 after purchasing an additional 12,500 shares during the last quarter. Hedge funds and other institutional investors own 26.41% 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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