Zacks Investment Research cut shares of Heico (NYSE:HEI) from a buy rating to a hold rating in a research note published on Friday morning.
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. “
HEI has been the topic of several other research reports. SunTrust Banks restated a buy rating and set a $116.00 price objective on shares of Heico in a report on Thursday. Canaccord Genuity restated a buy rating and set a $110.00 price objective (up previously from $95.00) on shares of Heico in a report on Wednesday. They noted that the move was a valuation call. Stephens set a $104.00 price objective on shares of Heico and gave the stock a hold rating in a report on Monday, December 18th. Credit Suisse Group restated an outperform rating and set a $109.00 price objective (up previously from $98.00) on shares of Heico in a report on Wednesday. They noted that the move was a valuation call. Finally, Jefferies Group restated a hold rating and set a $89.00 price objective (up previously from $75.00) on shares of Heico in a report on Thursday, August 24th. Six equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company has an average rating of Hold and an average target price of $99.78.
Heico (NYSE:HEI) last posted its quarterly earnings data on Monday, December 18th. The aerospace company reported $0.62 EPS for the quarter, beating the Zacks’ consensus estimate of $0.57 by $0.05. The company had revenue of $421.22 million for the quarter, compared to analyst estimates of $408.32 million. Heico had a net margin of 12.20% and a return on equity of 16.07%. The company’s quarterly revenue was up 15.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.65 EPS. equities analysts expect that Heico will post 2.39 EPS for the current year.
The firm 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 dividend of $0.07 per share. The ex-dividend date is Tuesday, January 2nd. This represents a yield of 0.15%. Heico’s payout ratio is 7.43%.
In other news, Director Mark H. Hildebrandt bought 1,316 shares of the stock in a transaction dated Thursday, October 5th. The stock was bought at an average price of $76.13 per share, for a total transaction of $100,187.08. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 9.76% of the company’s stock.
Several hedge funds have recently made changes to their positions in the company. D.A. Davidson & CO. grew its position in Heico by 24.7% during the second quarter. D.A. Davidson & CO. now owns 2,536 shares of the aerospace company’s stock valued at $182,000 after buying an additional 502 shares during the period. Ironwood Investment Counsel LLC bought a new position in Heico during the third quarter valued at about $201,000. RKL Wealth Management LLC bought a new position in Heico during the third quarter valued at about $201,000. Comerica Bank bought a new position in Heico during the second quarter valued at about $209,000. Finally, Virtu KCG Holdings LLC grew its position in Heico by 24.0% during the second quarter. Virtu KCG Holdings LLC now owns 3,302 shares of the aerospace company’s stock valued at $237,000 after buying an additional 639 shares during the period. Institutional investors own 26.93% 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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