Heico (NYSE:HEI)‘s stock had its “buy” rating reaffirmed by equities research analysts at Canaccord Genuity in a report issued on Friday.
The analysts wrote, “We maintain our Neutral rating and $23 PT post the print. HP Inc. posted strong performance for the quarter as all product segments and regions outperformed. However, since a greater portion of revenue upside came from PSG, organic benefit to EPS was relatively muted. Management indicated that its supplies business will experience growth rate deceleration in FY19 as the acquired portfolio experiences declining attach rates. The company raised its outlook due to some organic outperformance as well as lowered taxes. We think gains from here on out will likely be more muted.””
A number of other research analysts have also issued reports on HEI. Zacks Investment Research raised Heico from a “hold” rating to a “strong-buy” rating and set a $93.00 target price on the stock in a report on Tuesday. Jefferies Group set a $90.00 target price on Heico and gave the company a “buy” rating in a report on Wednesday, February 14th. Stephens set a $83.20 target price on Heico and gave the company a “hold” rating in a report on Monday, December 18th. Credit Suisse Group reissued an “outperform” rating and issued a $87.20 target price (up previously from $78.40) on shares of Heico in a report on Wednesday, December 20th. They noted that the move was a valuation call. Finally, SunTrust Banks reissued a “buy” rating and issued a $92.80 target price on shares of Heico in a report on Thursday, December 21st. 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’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $83.53.
Heico (NYSE HEI) traded up $0.88 during trading hours on Friday, hitting $80.65. The stock had a trading volume of 176,985 shares, compared to its average volume of 285,448. The firm has a market capitalization of $8,493.71, a price-to-earnings ratio of 46.71, a P/E/G ratio of 3.72 and a beta of 0.78. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.16 and a current ratio of 2.53. Heico has a 1-year low of $50.94 and a 1-year high of $85.47.
Heico (NYSE:HEI) last released its earnings results on Monday, December 18th. The aerospace company reported $0.50 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.46 by $0.04. The business had revenue of $421.22 million for the quarter, compared to analyst estimates of $408.32 million. Heico had a return on equity of 15.70% and a net margin of 12.20%. The company’s revenue for the quarter was up 15.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.52 earnings per share. analysts expect that Heico will post 2.04 earnings per share for the current fiscal year.
Hedge funds have recently made changes to their positions in the stock. Benjamin F. Edwards & Company Inc. acquired a new position in Heico during the fourth quarter worth $118,000. Captrust Financial Advisors acquired a new position in Heico during the fourth quarter worth $129,000. Ironwood Investment Counsel LLC acquired a new position in Heico during the third quarter worth $201,000. RKL Wealth Management LLC acquired a new position in Heico during the third quarter worth $201,000. Finally, BB&T Securities LLC acquired a new position in Heico during the fourth quarter worth $205,000. 20.16% of the stock is currently owned by hedge funds and other institutional investors.
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Heico 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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