Zacks Investment Research cut shares of Heico (NYSE:HEI) from a strong-buy rating to a hold rating in a research report report published on Tuesday.
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. “
A number of other research firms have also recently weighed in on HEI. Jefferies Group raised Heico from a hold rating to a buy rating in a report on Monday, January 8th. Credit Suisse Group reaffirmed an outperform rating and set a $97.00 price target (up from $87.20) on shares of Heico in a report on Thursday, March 1st. Canaccord Genuity raised their price target on Heico from $88.00 to $100.00 and gave the company a buy rating in a report on Thursday, March 1st. SunTrust Banks reaffirmed a buy rating on shares of Heico in a report on Thursday, March 1st. Finally, Stephens set a $84.00 price target on Heico and gave the company a hold rating in a report on Friday, January 19th. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company currently has an average rating of Buy and a consensus target price of $85.96.
Heico (NYSE:HEI) last issued its earnings results on Tuesday, February 27th. The aerospace company reported $0.34 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.39 by ($0.05). Heico had a return on equity of 14.80% and a net margin of 13.26%. The company had revenue of $404.41 million during the quarter, compared to analyst estimates of $394.23 million. research analysts predict that Heico will post 2.14 earnings per share for the current year.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Verity Asset Management Inc. boosted its position in Heico by 25.2% in the 4th quarter. Verity Asset Management Inc. now owns 3,441 shares of the aerospace company’s stock valued at $276,000 after buying an additional 693 shares during the last quarter. King Luther Capital Management Corp boosted its position in Heico by 5.2% in the 3rd quarter. King Luther Capital Management Corp now owns 14,970 shares of the aerospace company’s stock valued at $1,344,000 after buying an additional 737 shares during the last quarter. EFG Asset Management Americas Corp. boosted its position in Heico by 21.3% in the 4th quarter. EFG Asset Management Americas Corp. now owns 6,794 shares of the aerospace company’s stock valued at $641,000 after buying an additional 1,192 shares during the last quarter. Benjamin F. Edwards & Company Inc. bought a new position in Heico in the 4th quarter valued at $118,000. Finally, Captrust Financial Advisors bought a new position in Heico in the 4th quarter valued at $129,000. Hedge funds and other institutional investors own 21.83% of the company’s stock.
Heico 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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