Heico (NYSE:HEI) Rating Lowered to “Hold” at Wall Street Zen

Heico (NYSE:HEI) was downgraded by investment analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued to investors on Saturday, Wall Street Zen reports.

HEI has been the topic of a number of other reports. Guggenheim started coverage on Heico in a research report on Monday, September 14th. They set a “neutral” rating on the stock. Stifel Nicolaus set a $410.00 target price on Heico in a research report on Thursday, August 27th. The Goldman Sachs Group restated a “buy” rating and issued a $491.00 price target on shares of Heico in a research report on Monday, August 31st. Zacks Research upgraded Heico from a “hold” rating to a “strong-buy” rating in a report on Tuesday, June 9th. Finally, Morgan Stanley set a $365.00 price target on Heico and gave the company an “equal weight” rating in a report on Wednesday, September 2nd. Three analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, Heico presently has an average rating of “Moderate Buy” and a consensus target price of $391.07.

Heico Trading Up 0.1%

HEI stock opened at $302.81 on Friday. Heico has a fifty-two week low of $256.11 and a fifty-two week high of $376.86. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.27 and a current ratio of 2.72. The firm has a fifty day moving average price of $335.38 and a 200 day moving average price of $319.41. The firm has a market cap of $42.32 billion, a PE ratio of 50.39, a price-to-earnings-growth ratio of 2.55 and a beta of 1.09.

Heico (NYSE:HEI) last issued its quarterly earnings data on Tuesday, August 25th. The aerospace company reported $1.67 EPS for the quarter, topping analysts’ consensus estimates of $1.51 by $0.16. Heico had a net margin of 16.38% and a return on equity of 18.00%. The business had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.36 billion. During the same period last year, the company posted $1.26 EPS. The business’s revenue was up 23.1% on a year-over-year basis. Sell-side analysts anticipate that Heico will post 6.25 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Heico

Large investors have recently modified their holdings of the business. CX Institutional lifted its position in shares of Heico by 12.7% in the 3rd quarter. CX Institutional now owns 938 shares of the aerospace company’s stock worth $276,000 after purchasing an additional 106 shares during the period. Van Hulzen Asset Management LLC purchased a new position in Heico during the second quarter valued at approximately $431,000. WINTON GROUP Ltd raised its stake in Heico by 124.4% in the second quarter. WINTON GROUP Ltd now owns 4,758 shares of the aerospace company’s stock worth $1,695,000 after buying an additional 2,638 shares in the last quarter. Cypress Capital Management LLC WY bought a new position in Heico in the second quarter worth approximately $1,315,000. Finally, Strive Financial Group LLC purchased a new stake in Heico during the second quarter worth $176,000. Institutional investors own 27.12% of the company’s stock.

About Heico

HEICO Corporation is an aerospace, defense, and electronics company that designs, manufactures, and distributes specialized products for commercial aviation, defense, space, medical, telecommunications, and other industrial markets. Founded in 1957, the company is headquartered in Hollywood, Florida, and serves customers worldwide, including airlines, original equipment manufacturers, government agencies, and defense contractors.

HEICO operates through two primary segments. Its Flight Support Group produces FAA-approved replacement parts for jet engines and aircraft components, as well as provides aircraft and engine component repair, overhaul, and maintenance services.