Heico Corporation (HEI) Upgraded by Bank of America Corporation to Buy
Bank of America Corporation upgraded shares of Heico Corporation (NYSE:HEI) from a neutral rating to a buy rating in a research note issued to investors on Tuesday morning. They currently have $95.00 price objective on the aerospace company’s stock, up from their prior price objective of $75.00.
Other analysts have also recently issued research reports about the stock. BidaskClub cut shares of Heico Corporation from a strong-buy rating to a buy rating in a research note on Friday, August 18th. Canaccord Genuity increased their price target on shares of Heico Corporation from $91.00 to $92.00 and gave the stock a buy rating in a research note on Wednesday, August 23rd. Zacks Investment Research upgraded shares of Heico Corporation from a hold rating to a buy rating and set a $94.00 price target for the company in a research note on Tuesday. Jefferies Group LLC reiterated a hold rating and set a $75.00 price target on shares of Heico Corporation in a research note on Monday, June 26th. Finally, Deutsche Bank AG cut shares of Heico Corporation from a buy rating to a hold rating and increased their price target for the stock from $80.00 to $86.00 in a research note on Wednesday, August 16th. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Heico Corporation currently has an average rating of Buy and a consensus target price of $90.75.
Shares of Heico Corporation (NYSE:HEI) opened at 84.47 on Tuesday. The stock has a market capitalization of $7.13 billion, a price-to-earnings ratio of 41.37 and a beta of 0.76. The firm’s 50-day moving average is $81.10 and its 200-day moving average is $73.02. Heico Corporation has a 52 week low of $52.56 and a 52 week high of $87.36.
Heico Corporation (NYSE:HEI) last issued its quarterly earnings results on Wednesday, August 23rd. The aerospace company reported $0.53 earnings per share for the quarter, topping the Zacks’ consensus estimate 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 net margin of 12.04% and a return on equity of 15.94%. Heico Corporation’s quarterly revenue was up 9.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.62 EPS. Analysts forecast that Heico Corporation will post $2.10 earnings per share for the current fiscal year.
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Several hedge funds have recently made changes to their positions in HEI. Westpac Banking Corp boosted its stake in shares of Heico Corporation by 22.0% in the first quarter. Westpac Banking Corp now owns 94,800 shares of the aerospace company’s stock valued at $5,700,000 after buying an additional 17,100 shares during the period. EFG Asset Management Americas Corp. bought a new stake in shares of Heico Corporation during the first quarter valued at approximately $216,000. Clinton Group Inc. bought a new stake in shares of Heico Corporation during the first quarter valued at approximately $351,000. Raymond James Financial Services Advisors Inc. boosted its stake 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, Bahl & Gaynor Inc. boosted its stake in shares of Heico Corporation by 1.8% in the first quarter. Bahl & Gaynor Inc. now owns 30,433 shares of the aerospace company’s stock valued at $2,654,000 after buying an additional 535 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.
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