Heico (HEI) Given New $96.00 Price Target at SunTrust Banks
Heico (NYSE:HEI) had its price objective raised by SunTrust Banks to $96.00 in a report issued on Monday morning. They currently have a buy rating on the aerospace company’s stock. SunTrust Banks also issued estimates for Heico’s FY2018 earnings at $2.50 EPS and FY2019 earnings at $2.76 EPS.
A number of other equities research analysts also recently weighed in on HEI. Canaccord Genuity reiterated a buy rating and issued a $91.00 price target (up from $80.00) on shares of Heico in a report on Thursday, August 10th. Zacks Investment Research upgraded Heico from a hold rating to a buy rating and set a $100.00 price target for the company in a report on Wednesday, September 27th. BidaskClub downgraded Heico from a strong-buy rating to a buy rating in a report on Friday, August 18th. Jefferies Group reiterated a hold rating and issued a $89.00 price target (up from $75.00) on shares of Heico in a report on Thursday, August 24th. Finally, Seaport Global Securities began coverage on Heico in a report on Tuesday, September 12th. They issued a neutral rating and a $90.00 price target for the company. Six research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company has an average rating of Hold and a consensus target price of $92.89.
Shares of Heico (NYSE HEI) traded up $0.05 during midday trading on Monday, hitting $88.79. The stock had a trading volume of 526,000 shares, compared to its average volume of 183,600. Heico has a 1-year low of $59.94 and a 1-year high of $93.00. The company has a quick ratio of 1.39, a current ratio of 2.89 and a debt-to-equity ratio of 0.36. The company has a market cap of $7,494.54, a P/E ratio of 43.76, a price-to-earnings-growth ratio of 4.06 and a beta of 0.73.
In other Heico news, Director Mark H. Hildebrandt purchased 1,316 shares of Heico stock in a transaction on Thursday, October 5th. The stock was bought at an average price of $76.13 per share, for a total transaction of $100,187.08. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Thomas S. Irwin sold 20,000 shares of the business’s stock in a transaction on Thursday, September 21st. The stock was sold at an average price of $76.28, for a total value of $1,525,600.00. Following the transaction, the vice president now owns 31,110 shares of the company’s stock, valued at approximately $2,373,070.80. The disclosure for this sale can be found here. 9.76% of the stock is owned by corporate insiders.
A number of hedge funds have recently made changes to their positions in HEI. D.A. Davidson & CO. increased its position in Heico by 24.7% in the 2nd quarter. D.A. Davidson & CO. now owns 2,536 shares of the aerospace company’s stock worth $182,000 after purchasing an additional 502 shares during the last quarter. Ironwood Investment Counsel LLC bought a new stake in shares of Heico in the 3rd quarter worth approximately $201,000. RKL Wealth Management LLC bought a new stake in shares of Heico in the 3rd quarter worth approximately $201,000. Comerica Bank bought a new stake in shares of Heico in the 2nd quarter worth approximately $209,000. Finally, Fortaleza Asset Management Inc. lifted its position in shares of Heico by 25.0% in the 2nd quarter. Fortaleza Asset Management Inc. now owns 3,287 shares of the aerospace company’s stock worth $236,000 after acquiring an additional 657 shares during the period. Institutional investors own 26.97% of the company’s stock.
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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