Heico (NYSE:HEI) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research note issued on Tuesday. The firm presently has a $93.00 target price on the aerospace company’s stock. Zacks Investment Research‘s price target indicates a potential upside of 15.07% from the company’s current price.
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. “
Other equities analysts have also issued reports about the stock. Jefferies Group upgraded shares of Heico from a “hold” rating to a “buy” rating in a report on Monday, January 8th. SunTrust Banks reiterated a “buy” rating and issued a $92.80 target price on shares of Heico in a report on Thursday, December 21st. Canaccord Genuity boosted their target price on shares of Heico from $73.60 to $76.00 and gave the company a “buy” rating in a report on Tuesday, October 24th. Stephens set a $83.20 target price on shares of Heico and gave the company a “hold” rating in a report on Monday, December 18th. Finally, Credit Suisse Group reissued an “outperform” rating and issued a $87.20 price target (up from $78.40) on shares of Heico in a research note on Wednesday, December 20th. They noted that the move was a valuation call. Four investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. Heico presently has a consensus rating of “Buy” and a consensus price target of $83.53.
Heico (HEI) traded up $0.18 during trading hours on Tuesday, reaching $80.82. 213,942 shares of the company’s stock traded hands, compared to its average volume of 285,574. The company has a quick ratio of 1.16, a current ratio of 2.53 and a debt-to-equity ratio of 0.54. The firm has a market cap of $7,710.00, a price-to-earnings ratio of 47.26, a price-to-earnings-growth ratio of 3.73 and a beta of 0.78. Heico has a 12 month low of $50.94 and a 12 month high of $85.47.
Heico (NYSE:HEI) last posted its earnings results on Monday, December 18th. The aerospace company reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.04. The company had revenue of $421.22 million for the quarter, compared to analyst estimates of $408.32 million. Heico had a net margin of 12.20% and a return on equity of 15.70%. Heico’s revenue was up 15.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.52 EPS. sell-side analysts anticipate that Heico will post 2.04 EPS for the current year.
Institutional investors have recently added to or reduced their stakes in the company. Virtu KCG Holdings LLC increased its stake in Heico by 24.0% during the 2nd quarter. Virtu KCG Holdings LLC now owns 3,302 shares of the aerospace company’s stock worth $237,000 after buying an additional 639 shares during the period. Verity Asset Management Inc. increased its stake in Heico by 25.2% during the 4th quarter. Verity Asset Management Inc. now owns 3,441 shares of the aerospace company’s stock worth $276,000 after buying an additional 693 shares during the period. King Luther Capital Management Corp increased its stake in Heico by 5.2% during the 3rd quarter. King Luther Capital Management Corp now owns 14,970 shares of the aerospace company’s stock worth $1,344,000 after buying an additional 737 shares during the period. Steinberg Global Asset Management increased its stake in Heico by 4.2% during the 3rd quarter. Steinberg Global Asset Management now owns 20,432 shares of the aerospace company’s stock worth $1,835,000 after buying an additional 832 shares during the period. Finally, Copeland Capital Management LLC increased its stake in Heico by 0.3% during the 3rd quarter. Copeland Capital Management LLC now owns 384,041 shares of the aerospace company’s stock worth $34,491,000 after buying an additional 1,108 shares during the period. 20.16% of the stock is currently owned by institutional investors and hedge funds.
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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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