Heico (NYSE:HEI) Stock Rating Lowered by Wall Street Zen

Heico (NYSE:HEI) was downgraded by Wall Street Zen from a “buy” rating to a “hold” rating in a report issued on Sunday.

A number of other brokerages also recently weighed in on HEI. Jefferies Financial Group reaffirmed a “buy” rating and issued a $425.00 target price on shares of Heico in a report on Thursday, August 13th. Royal Bank Of Canada lifted their target price on Heico from $375.00 to $390.00 and gave the company an “outperform” rating in a research report on Friday, May 29th. UBS Group reissued a “neutral” rating and set a $390.00 target price (up from $371.00) on shares of Heico in a research note on Monday, June 1st. Zacks Research raised shares of Heico from a “hold” rating to a “strong-buy” rating in a report on Tuesday, June 9th. Finally, Rothschild & Co Redburn set a $360.00 price target on shares of Heico and gave the company a “buy” rating in a report on Wednesday, May 13th. Three research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Heico presently has an average rating of “Moderate Buy” and a consensus target price of $379.56.

Heico Price Performance

HEI stock opened at $352.79 on Friday. The company’s 50-day moving average price is $353.37 and its two-hundred day moving average price is $321.01. The firm has a market cap of $49.27 billion, a P/E ratio of 63.00, a P/E/G ratio of 3.58 and a beta of 1.04. The company has a quick ratio of 1.36, a current ratio of 2.92 and a debt-to-equity ratio of 0.53. Heico has a 12 month low of $256.11 and a 12 month high of $376.86.

Heico (NYSE:HEI) last issued its quarterly earnings results on Wednesday, May 27th. The aerospace company reported $1.66 earnings per share for the quarter, topping analysts’ consensus estimates of $1.33 by $0.33. The company had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.25 billion. Heico had a net margin of 16.08% and a return on equity of 17.52%. The firm’s quarterly revenue was up 25.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.12 EPS. On average, analysts anticipate that Heico will post 6.02 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CAO Bradley K. Rowen sold 1,326 shares of the company’s stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $241.63, for a total value of $320,401.38. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 4.86% of the company’s stock.

Hedge Funds Weigh In On Heico

A number of large investors have recently modified their holdings of HEI. Diamant Asset Management Inc. increased its position in shares of Heico by 25,698.9% in the first quarter. Diamant Asset Management Inc. now owns 763,647 shares of the aerospace company’s stock worth $209,392,000 after purchasing an additional 760,687 shares during the last quarter. Weitz Investment Management Inc. purchased a new position in Heico in the second quarter worth $52,737,000. Bank of New York Mellon Corp purchased a new position in Heico in the second quarter worth $54,386,000. Freestone Grove Partners LP bought a new position in Heico in the second quarter valued at $50,276,000. Finally, Munro Partners raised its position in Heico by 44.2% during the fourth quarter. Munro Partners now owns 284,898 shares of the aerospace company’s stock valued at $92,190,000 after purchasing an additional 87,265 shares in the last quarter. 27.12% of the stock is currently owned by institutional investors.

About Heico

HEICO Corporation is an aerospace, defense and electronics company that designs, manufactures, and sells a range of products and provides repair and aftermarket services. Headquartered in Hollywood, Florida, HEICO supplies replacement components, repair services and engineered systems for commercial and business aviation, military and space markets as well as for selected industrial and medical customers. The company’s offerings are focused on sustaining and improving the reliability and availability of complex equipment across its end markets.

HEICO operates through two principal business areas.