Heico (HEI) Raised to “Buy” at Jefferies Group
Heico (NYSE:HEI) was upgraded by stock analysts at Jefferies Group from a “hold” rating to a “buy” rating in a research note issued to investors on Monday, MarketBeat Ratings reports. Jefferies Group also issued estimates for Heico’s Q1 2018 earnings at $0.56 EPS, Q2 2018 earnings at $0.66 EPS, Q4 2018 earnings at $0.87 EPS, FY2018 earnings at $2.75 EPS, FY2019 earnings at $3.00 EPS and FY2020 earnings at $3.15 EPS.
HEI has been the topic of several other research reports. Zacks Investment Research downgraded shares of Heico from a “buy” rating to a “hold” rating in a research note on Tuesday, October 31st. SunTrust Banks reaffirmed a “buy” rating and issued a $116.00 price target on shares of Heico in a research note on Thursday, December 21st. Canaccord Genuity raised their price target on shares of Heico from $92.00 to $95.00 and gave the stock a “buy” rating in a research note on Tuesday, October 24th. Stephens set a $104.00 price target on shares of Heico and gave the stock a “hold” rating in a research note on Monday, December 18th. Finally, Credit Suisse Group reaffirmed an “outperform” rating and issued a $109.00 price target (up previously from $98.00) on shares of Heico in a research note on Wednesday, December 20th. They noted that the move was a valuation call. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $99.78.
Heico (HEI) traded down $0.81 during mid-day trading on Monday, reaching $97.25. 238,800 shares of the company traded hands, compared to its average volume of 299,667. The stock has a market cap of $7,380.00, a P/E ratio of 45.44, a PEG ratio of 3.75 and a beta of 0.73. Heico has a 52 week low of $60.00 and a 52 week high of $101.40. The company has a quick ratio of 1.16, a current ratio of 2.53 and a debt-to-equity ratio of 0.54.
Heico (NYSE:HEI) last posted its quarterly earnings results on Monday, December 18th. The aerospace company reported $0.62 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.57 by $0.05. The company had revenue of $421.22 million for the quarter, compared to the consensus estimate of $408.32 million. Heico had a net margin of 12.20% and a return on equity of 15.70%. The firm’s revenue was up 15.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.65 EPS. analysts predict that Heico will post 2.41 earnings per share for the current fiscal year.
A number of hedge funds and other institutional investors have recently bought and sold shares of HEI. Artisan Partners Limited Partnership increased its position in Heico by 54.9% during the 2nd quarter. Artisan Partners Limited Partnership now owns 283,149 shares of the aerospace company’s stock valued at $20,341,000 after purchasing an additional 100,315 shares during the period. Fred Alger Management Inc. increased its position in Heico by 23.7% during the 2nd quarter. Fred Alger Management Inc. now owns 380,992 shares of the aerospace company’s stock valued at $27,370,000 after purchasing an additional 72,901 shares during the period. Nicholas Investment Partners LP increased its position in Heico by 111.4% during the 2nd quarter. Nicholas Investment Partners LP now owns 78,821 shares of the aerospace company’s stock valued at $5,662,000 after purchasing an additional 41,530 shares during the period. Moody Lynn & Lieberson LLC purchased a new position in Heico during the 3rd quarter valued at about $2,561,000. Finally, PNC Financial Services Group Inc. increased its position in Heico by 3.7% during the 2nd quarter. PNC Financial Services Group Inc. now owns 674,898 shares of the aerospace company’s stock valued at $48,483,000 after purchasing an additional 24,299 shares during the period. 26.93% of the stock is currently owned by institutional investors and hedge funds.
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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