Heico (HEI) Given “Buy” Rating at Canaccord Genuity

Canaccord Genuity restated their buy rating on shares of Heico (NYSE:HEI) in a research note released on Wednesday. Canaccord Genuity currently has a $110.00 price objective on the aerospace company’s stock, up from their prior price objective of $95.00. The analysts noted that the move was a valuation call.

Several other research firms have also recently weighed in on HEI. Stephens set a $104.00 price target on Heico and gave the stock a hold rating in a report on Monday. Zacks Investment Research cut Heico from a buy rating to a hold rating in a report on Tuesday, October 31st. SunTrust Banks lifted their price target on Heico to $96.00 and gave the stock a buy rating in a report on Monday, December 4th. Finally, Seaport Global Securities started coverage on Heico in a report on Tuesday, September 12th. They set a neutral rating and a $90.00 price target for the company. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus price target of $97.56.

Heico (NYSE HEI) traded down $0.31 during trading hours on Wednesday, reaching $96.89. The company had a trading volume of 382,100 shares, compared to its average volume of 194,278. The firm has a market cap of $8,209.03, a PE ratio of 45.68, a P/E/G ratio of 4.39 and a beta of 0.73. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.39 and a current ratio of 2.89. Heico has a 1-year low of $60.00 and a 1-year high of $101.40.

Heico (NYSE:HEI) last released its quarterly earnings results on Monday, December 18th. The aerospace company reported $0.62 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.57 by $0.05. The business had revenue of $421.22 million during the quarter, compared to analysts’ expectations of $408.32 million. Heico had a return on equity of 16.07% and a net margin of 12.20%. The firm’s revenue for the quarter was up 15.9% compared to the same quarter last year. During the same period last year, the firm posted $0.65 EPS. equities research analysts predict that Heico will post 2.38 earnings per share for the current fiscal year.

The business also recently disclosed a semiannual dividend, which will be paid on Wednesday, January 17th. Shareholders of record on Wednesday, January 3rd will be issued a $0.07 dividend. The ex-dividend date is Tuesday, January 2nd. This represents a yield of 0.15%. Heico’s dividend payout ratio is presently 7.43%.

In related news, Director Mark H. Hildebrandt acquired 1,316 shares of the company’s stock in a transaction on Thursday, October 5th. The stock was purchased at an average cost of $76.13 per share, with a total value of $100,187.08. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. 9.76% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the business. PNC Financial Services Group Inc. increased its stake in shares of Heico by 3.7% in 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 last quarter. Copeland Capital Management LLC increased its stake in shares of Heico by 0.3% in the 3rd quarter. Copeland Capital Management LLC now owns 384,041 shares of the aerospace company’s stock valued at $34,491,000 after purchasing an additional 1,108 shares during the last quarter. Fred Alger Management Inc. increased its stake in shares of Heico by 23.7% in 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 last quarter. Artisan Partners Limited Partnership increased its stake in shares of Heico by 54.9% in 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 last quarter. Finally, Hancock Holding Co. increased its stake in shares of Heico by 0.9% in the 2nd quarter. Hancock Holding Co. now owns 167,516 shares of the aerospace company’s stock valued at $12,034,000 after purchasing an additional 1,501 shares during the last quarter. 26.93% of the stock is owned by hedge funds and other institutional investors.

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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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