Canaccord Genuity Reiterates Buy Rating for Heico Corporation (HEI)
Heico Corporation (NYSE:HEI)‘s stock had its “buy” rating restated by equities researchers at Canaccord Genuity in a research note issued to investors on Thursday, The Fly reports. They presently have a $91.00 price target on the aerospace company’s stock, up from their previous price target of $80.00. Canaccord Genuity’s price target indicates a potential upside of 5.36% from the stock’s previous close.
HEI has been the subject of a number of other research reports. Stephens started coverage on shares of Heico Corporation in a research note on Thursday, April 13th. They issued an “equal weight” rating and a $87.00 price target for the company. Zacks Investment Research upgraded shares of Heico Corporation from a “hold” rating to a “buy” rating and set a $81.00 price target for the company in a research note on Tuesday, June 27th. Jefferies Group LLC reiterated a “hold” rating and issued a $75.00 price target on shares of Heico Corporation in a research note on Monday, June 26th. Finally, Deutsche Bank AG reiterated a “buy” rating and issued a $100.00 price target on shares of Heico Corporation in a research note on Wednesday, April 12th. Four analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $85.00.
Heico Corporation (HEI) opened at 86.37 on Thursday. The company’s 50 day moving average is $77.42 and its 200 day moving average is $71.16. Heico Corporation has a 1-year low of $52.56 and a 1-year high of $87.11. The company has a market cap of $7.28 billion, a price-to-earnings ratio of 42.95 and a beta of 0.76.
Heico Corporation (NYSE:HEI) last posted its quarterly earnings data on Tuesday, May 23rd. The aerospace company reported $0.53 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.50 by $0.03. Heico Corporation had a net margin of 12.08% and a return on equity of 15.89%. The business had revenue of $368.70 million during the quarter, compared to analyst estimates of $368.78 million. During the same quarter last year, the firm posted $0.57 earnings per share. The business’s revenue for the quarter was up 5.2% compared to the same quarter last year. Equities research analysts forecast that Heico Corporation will post $2.09 EPS for the current year.
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A number of hedge funds have recently added to or reduced their stakes in the company. Clinton Group Inc. bought a new stake in Heico Corporation during the first quarter worth $351,000. Raymond James Financial Services Advisors Inc. boosted its stake in Heico Corporation by 2.5% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 9,749 shares of the aerospace company’s stock worth $850,000 after buying an additional 234 shares during the last quarter. Bahl & Gaynor Inc. boosted its stake in Heico Corporation by 1.8% in the first quarter. Bahl & Gaynor Inc. now owns 30,433 shares of the aerospace company’s stock worth $2,654,000 after buying an additional 535 shares during the last quarter. Virginia Retirement Systems ET AL boosted its stake in Heico Corporation by 10.3% in the first quarter. Virginia Retirement Systems ET AL now owns 8,600 shares of the aerospace company’s stock worth $750,000 after buying an additional 800 shares during the last quarter. Finally, Eagle Asset Management Inc. boosted its stake in Heico Corporation by 4.2% in the first quarter. Eagle Asset Management Inc. now owns 117,331 shares of the aerospace company’s stock worth $10,231,000 after buying an additional 4,726 shares during the last quarter. 22.34% 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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