Heico Corporation (NYSE:HEI) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday.

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 research reports about the company. Canaccord Genuity lifted their target price 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. Jefferies Group LLC reiterated a “hold” rating and set a $75.00 target price on shares of Heico Corporation in a research report on Monday, June 26th. Bank of America Corporation upgraded Heico Corporation from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $75.00 to $95.00 in a research report on Tuesday. Finally, Deutsche Bank AG cut Heico Corporation from a “buy” rating to a “hold” rating and lifted their target price for the stock from $80.00 to $86.00 in a research report on Wednesday, August 16th. Six research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $90.75.

Shares of Heico Corporation (HEI) traded up 0.09% during trading on Wednesday, hitting $84.55. The stock had a trading volume of 205,532 shares. The stock has a 50-day moving average price of $81.10 and a 200 day moving average price of $73.02. The company has a market cap of $7.14 billion, a P/E ratio of 41.41 and a beta of 0.76. Heico Corporation has a 12 month low of $52.56 and a 12 month high of $87.36.

Heico Corporation (NYSE:HEI) last posted its earnings results on Wednesday, August 23rd. The aerospace company reported $0.53 EPS for the quarter, topping the Zacks’ consensus estimate of $0.52 by $0.01. Heico Corporation had a return on equity of 15.94% and a net margin of 12.04%. The business had revenue of $391.50 million for the quarter, compared to analysts’ expectations of $390.55 million. During the same quarter in the previous year, the firm earned $0.62 earnings per share. The business’s revenue was up 9.9% compared to the same quarter last year. Equities analysts expect that Heico Corporation will post $2.10 EPS for the current fiscal year.

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Institutional investors have recently modified their holdings of the stock. Bell Bank boosted its position in shares of Heico Corporation by 4.4% in the first quarter. Bell Bank now owns 3,943 shares of the aerospace company’s stock valued at $344,000 after buying an additional 165 shares during the period. Suntrust Banks Inc. boosted its position in shares of Heico Corporation by 1.5% in the second quarter. Suntrust Banks Inc. now owns 12,918 shares of the aerospace company’s stock valued at $927,000 after buying an additional 194 shares during the period. Steinberg Global Asset Management boosted its position in shares of Heico Corporation by 1.4% in the first quarter. Steinberg Global Asset Management now owns 15,624 shares of the aerospace company’s stock valued at $1,362,000 after buying an additional 209 shares during the period. Raymond James Financial Services Advisors Inc. boosted its position in shares of 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 valued at $850,000 after buying an additional 234 shares during the period. Finally, Parkside Financial Bank & Trust boosted its position in shares of Heico Corporation by 23.6% in the second quarter. Parkside Financial Bank & Trust now owns 1,482 shares of the aerospace company’s stock valued at $106,000 after buying an additional 283 shares during the period. Hedge funds and other institutional investors own 26.41% of the company’s stock.

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.

Analyst Recommendations for Heico Corporation (NYSE:HEI)

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