Heico Corporation (HEI) Raised 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 report report published on Wednesday. Zacks Investment Research currently has $100.00 price target 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. “
A number of other brokerages have also recently weighed in on HEI. Credit Suisse Group reiterated an outperform rating and issued a $98.00 price target (up from $85.00) on shares of Heico Corporation in a research report on Tuesday, August 29th. Bank of America Corporation upgraded Heico Corporation from a neutral rating to a buy rating and upped their price target for the company from $75.00 to $95.00 in a research report on Tuesday, August 29th. Jefferies Group LLC reiterated a hold rating and issued a $75.00 price target on shares of Heico Corporation in a research report on Monday, June 26th. Canaccord Genuity upped their price target on Heico Corporation from $91.00 to $92.00 and gave the company a buy rating in a research report on Wednesday, August 23rd. Finally, Deutsche Bank AG cut Heico Corporation from a buy rating to a hold rating and upped their price target for the company from $80.00 to $86.00 in a research report on Wednesday, August 16th. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company presently has a consensus rating of Buy and an average target price of $91.33.
Heico Corporation (NYSE:HEI) traded up 0.19% during midday trading on Wednesday, reaching $89.81. The company’s stock had a trading volume of 252,359 shares. The firm has a 50 day moving average price of $84.62 and a 200 day moving average price of $75.51. Heico Corporation has a 1-year low of $52.56 and a 1-year high of $90.90. The firm has a market capitalization of $7.58 billion, a PE ratio of 43.98 and a beta of 0.76.
Heico Corporation (NYSE:HEI) last released its quarterly earnings data on Wednesday, August 23rd. The aerospace company reported $0.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.01. The business had revenue of $391.50 million for 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%. Heico Corporation’s quarterly revenue was up 9.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.62 earnings per share. On average, analysts predict that Heico Corporation will post $2.10 EPS for the current year.
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In other Heico Corporation news, VP Thomas S. Irwin sold 20,000 shares of the business’s stock in a transaction on Thursday, September 21st. The stock was sold at an average price of $76.28, for a total value of $1,525,600.00. Following the transaction, the vice president now owns 31,110 shares of the company’s stock, valued at $2,373,070.80. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 9.76% of the stock is currently owned by insiders.
A number of institutional investors have recently bought and sold shares of the business. Navellier & Associates Inc boosted its stake in Heico Corporation by 31.4% in the second quarter. Navellier & Associates Inc now owns 77,094 shares of the aerospace company’s stock worth $5,538,000 after purchasing an additional 18,423 shares in the last quarter. USA Financial Portformulas Corp acquired a new position in Heico Corporation in the second quarter worth $563,000. 1st Global Advisors Inc. boosted its stake in Heico Corporation by 24.8% in the second quarter. 1st Global Advisors Inc. now owns 3,383 shares of the aerospace company’s stock worth $243,000 after purchasing an additional 672 shares in the last quarter. Bank of Nova Scotia acquired a new position in Heico Corporation in the second quarter worth $1,322,000. Finally, Raymond James Financial Services Advisors Inc. boosted its stake in Heico Corporation by 27.3% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 12,410 shares of the aerospace company’s stock worth $892,000 after purchasing an additional 2,661 shares in the last quarter. 26.41% of the stock is currently owned by institutional investors.
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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