SunTrust Banks Increases Heico (HEI) Price Target to $97.00
Heico (NYSE:HEI) had its price objective hoisted by investment analysts at SunTrust Banks to $97.00 in a report issued on Wednesday, The Fly reports. The firm presently has a “buy” rating on the aerospace company’s stock. SunTrust Banks’ target price suggests a potential upside of 6.65% from the stock’s previous close. SunTrust Banks also issued estimates for Heico’s Q4 2018 earnings at $0.50 EPS and FY2019 earnings at $2.17 EPS.
Several other brokerages also recently commented on HEI. Zacks Investment Research downgraded Heico from a “buy” rating to a “hold” rating in a report on Thursday, May 24th. Canaccord Genuity lifted their target price on Heico from $84.00 to $100.00 and gave the stock a “buy” rating in a report on Wednesday. ValuEngine raised Heico from a “hold” rating to a “buy” rating in a report on Tuesday. Robert W. Baird assumed coverage on Heico in a report on Wednesday, August 8th. They set a “neutral” rating and a $84.00 target price on the stock. Finally, UBS Group assumed coverage on Heico in a report on Wednesday, August 15th. They set a “neutral” rating and a $83.00 target price on the stock. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Heico presently has an average rating of “Buy” and a consensus target price of $85.16.
Shares of HEI opened at $90.95 on Wednesday. The stock has a market cap of $11.92 billion, a price-to-earnings ratio of 56.12, a P/E/G ratio of 4.02 and a beta of 0.62. Heico has a 12 month low of $53.68 and a 12 month high of $93.63. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.36 and a current ratio of 3.02.
In other news, Director Alan Schriesheim sold 5,347 shares of the business’s stock in a transaction dated Wednesday, July 11th. The stock was sold at an average price of $62.59, for a total value of $334,668.73. Following the transaction, the director now directly owns 16,041 shares of the company’s stock, valued at approximately $1,004,006.19. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Laurans A. Mendelson sold 30,000 shares of the business’s stock in a transaction dated Monday, June 4th. The shares were sold at an average price of $76.21, for a total value of $2,286,300.00. Following the completion of the transaction, the chief executive officer now directly owns 740,910 shares in the company, valued at $56,464,751.10. The disclosure for this sale can be found here. 9.88% of the stock is owned by insiders.
Several large investors have recently made changes to their positions in HEI. Bronfman E.L. Rothschild L.P. raised its stake in Heico by 790.8% during the 1st quarter. Bronfman E.L. Rothschild L.P. now owns 1,452 shares of the aerospace company’s stock worth $126,000 after buying an additional 1,289 shares during the period. Financial Architects Inc acquired a new position in Heico during the 2nd quarter worth approximately $123,000. BDO Wealth Advisors LLC acquired a new position in Heico during the 1st quarter worth approximately $154,000. Winslow Evans & Crocker Inc. acquired a new position in Heico during the 2nd quarter worth approximately $164,000. Finally, NewSquare Capital LLC acquired a new position in Heico during the 2nd quarter worth approximately $184,000. 26.88% of the stock is currently owned by institutional investors.
Heico Company Profile
HEICO Corporation, through its subsidiaries, designs, manufactures, and sells aerospace, defense, and electronic related products and services in the United States and internationally. The company's Flight Support Group segment provides jet engine and aircraft component replacement parts; thermal insulation blankets and parts; renewable/reusable insulation systems; and specialty components for aerospace and industrial original equipment manufacturers, and the United States government.
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