Heico Corporation (NYSE:HEI) Hits New 52-Week High at $78.26

Shares of Heico Corporation (NYSE:HEI) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $78.26 and last traded at $78.22, with a volume of 97,261 shares. The stock had previously closed at $77.49.

A number of analysts have issued reports on HEI shares. Zacks Investment Research upgraded Heico Corporation from a “hold” rating to a “buy” rating and set a $81.00 price target on the stock in a research report on Tuesday, June 27th. Canaccord Genuity boosted their price target on Heico Corporation from $77.00 to $80.00 and gave the company a “buy” rating in a research report on Wednesday, May 3rd. Deutsche Bank AG cut Heico Corporation from a “buy” rating to a “hold” rating and boosted their target price for the stock from $80.00 to $86.00 in a research report on Wednesday. Finally, Jefferies Group LLC reissued a “hold” rating and set a $75.00 price target on shares of Heico Corporation in a research note on Monday, June 26th. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $83.25.

The stock’s 50 day moving average is $80.07 and its 200 day moving average is $72.27. The company has a market capitalization of $6.99 billion, a PE ratio of 41.21 and a beta of 0.76.

Heico Corporation (NYSE:HEI) last posted its quarterly earnings results on Tuesday, May 23rd. The aerospace company reported $0.53 earnings per share for the quarter, beating analysts’ consensus estimates of $0.50 by $0.03. Heico Corporation had a net margin of 12.08% and a return on equity of 15.89%. The company had revenue of $368.70 million for the quarter, compared to the consensus estimate of $368.78 million. During the same period last year, the company posted $0.57 EPS. The firm’s quarterly revenue was up 5.2% compared to the same quarter last year. Analysts anticipate that Heico Corporation will post $2.09 earnings per share for the current year.

Several hedge funds and other institutional investors have recently modified their holdings of HEI. 1st Global Advisors Inc. increased its position in shares of Heico Corporation by 24.8% in the second quarter. 1st Global Advisors Inc. now owns 3,383 shares of the aerospace company’s stock worth $243,000 after buying an additional 672 shares during the period. Bank of Nova Scotia bought a new stake in Heico Corporation during the second quarter valued at $1,322,000. Raymond James Financial Services Advisors Inc. raised its stake in Heico Corporation by 27.3% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 12,410 shares of the aerospace company’s stock valued at $892,000 after buying an additional 2,661 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. raised its stake in Heico Corporation by 61.9% in the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 19,480 shares of the aerospace company’s stock valued at $1,380,000 after buying an additional 7,446 shares in the last quarter. Finally, Southeast Asset Advisors Inc. raised its stake in Heico Corporation by 24.9% in the second quarter. Southeast Asset Advisors Inc. now owns 12,005 shares of the aerospace company’s stock valued at $862,000 after buying an additional 2,392 shares in the last quarter. Hedge funds and other institutional investors own 23.05% of the company’s stock.

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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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