Heico Corporation (HEI) Downgraded by Zacks Investment Research to Hold
Zacks Investment Research downgraded shares of Heico Corporation (NYSE:HEI) from a buy rating to a hold rating in a research report report published on Monday morning.
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 analysts have also recently issued reports about the company. Canaccord Genuity increased their price objective on Heico Corporation from $91.00 to $92.00 and gave the stock a buy rating in a research report on Wednesday, August 23rd. BidaskClub cut Heico Corporation from a strong-buy rating to a buy rating in a research report on Friday, August 18th. Seaport Global Securities began coverage on Heico Corporation in a research report on Tuesday, September 12th. They set a neutral rating and a $90.00 price objective for the company. Jefferies Group LLC reaffirmed a hold rating and set a $75.00 price objective on shares of Heico Corporation in a research report on Monday, June 26th. Finally, Deutsche Bank AG cut Heico Corporation from a buy rating to a hold rating and increased their price objective for the stock from $80.00 to $86.00 in a research report on Wednesday, August 16th. Seven investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Heico Corporation presently has a consensus rating of Hold and a consensus price target of $90.89.
Shares of Heico Corporation (NYSE HEI) opened at 87.70 on Monday. The firm has a market cap of $7.41 billion, a P/E ratio of 42.95 and a beta of 0.76. The company’s 50 day moving average price is $84.39 and its 200-day moving average price is $75.36. Heico Corporation has a 12-month low of $52.56 and a 12-month high of $87.90.
Heico Corporation (NYSE:HEI) last announced its earnings results on Wednesday, August 23rd. The aerospace company reported $0.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.01. The firm had revenue of $391.50 million during the quarter, compared to analysts’ expectations of $390.55 million. Heico Corporation had a return on equity of 15.56% and a net margin of 12.04%. The business’s revenue was up 9.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.62 EPS. On average, equities research analysts anticipate that Heico Corporation will post $2.10 EPS for the current year.
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Institutional investors and hedge funds have recently bought and sold shares of the company. Nicholas Investment Partners LP lifted its holdings in shares of Heico Corporation by 111.4% in the 2nd quarter. Nicholas Investment Partners LP now owns 78,821 shares of the aerospace company’s stock valued at $5,662,000 after buying an additional 41,530 shares during the period. Virginia Retirement Systems ET AL lifted its holdings in shares of Heico Corporation by 10.3% in the 1st quarter. Virginia Retirement Systems ET AL now owns 8,600 shares of the aerospace company’s stock valued at $750,000 after buying an additional 800 shares during the period. Artemis Investment Management LLP acquired a new stake in shares of Heico Corporation in the 2nd quarter valued at approximately $7,379,000. Westpac Banking Corp lifted its holdings in shares of Heico Corporation by 8.5% in the 2nd quarter. Westpac Banking Corp now owns 80,174 shares of the aerospace company’s stock valued at $5,760,000 after buying an additional 6,274 shares during the period. Finally, AGF Investments Inc. lifted its holdings in shares of Heico Corporation by 25.0% in the 2nd quarter. AGF Investments Inc. now owns 62,500 shares of the aerospace company’s stock valued at $4,492,000 after buying an additional 12,500 shares during the period. 26.41% of the stock is owned by institutional investors and hedge funds.
About Heico Corporation
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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