Heico (HEI) Receives “Buy” Rating from Canaccord Genuity

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Heico (NYSE:HEI)‘s stock had its “buy” rating reaffirmed by equities researchers at Canaccord Genuity in a research report issued on Monday, The Fly reports. They currently have a $110.00 target price on the aerospace company’s stock, up from their previous target price of $105.00. Canaccord Genuity’s target price suggests a potential upside of 6.65% from the stock’s current price.

HEI has been the subject of a number of other reports. Zacks Investment Research lowered Heico from a “buy” rating to a “hold” rating in a research report on Tuesday, February 12th. Vertical Research initiated coverage on Heico in a research report on Tuesday, January 22nd. They set a “buy” rating and a $91.00 price objective for the company. SunTrust Banks restated a “buy” rating and set a $100.00 price objective on shares of Heico in a research report on Wednesday, February 27th. Cowen initiated coverage on Heico in a research report on Tuesday, March 5th. They set a “market perform” rating and a $95.00 price objective for the company. Finally, UBS Group raised their price objective on Heico from $85.00 to $112.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 30th. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Heico currently has a consensus rating of “Buy” and a consensus target price of $97.38.

NYSE:HEI opened at $103.14 on Monday. The company has a debt-to-equity ratio of 0.38, a current ratio of 3.48 and a quick ratio of 1.66. Heico has a 1-year low of $70.40 and a 1-year high of $107.45. The firm has a market capitalization of $13.71 billion, a P/E ratio of 56.98, a P/E/G ratio of 3.99 and a beta of 0.85.

Heico (NYSE:HEI) last released its quarterly earnings results on Tuesday, February 26th. The aerospace company reported $0.49 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.46 by $0.03. Heico had a return on equity of 17.72% and a net margin of 14.86%. The business had revenue of $466.15 million during the quarter, compared to analyst estimates of $453.65 million. Research analysts expect that Heico will post 2.14 EPS for the current fiscal year.

In other news, Director Alan Schriesheim sold 15,000 shares of Heico stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $79.88, for a total transaction of $1,198,200.00. Following the completion of the sale, the director now directly owns 9,700 shares in the company, valued at approximately $774,836. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Frank J. Schwitter sold 1,756 shares of Heico stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $78.07, for a total value of $137,090.92. Following the sale, the director now owns 1,313 shares of the company’s stock, valued at $102,505.91. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 24,756 shares of company stock valued at $2,022,171. 9.23% of the stock is owned by corporate insiders.

Institutional investors have recently made changes to their positions in the company. Fisher Asset Management LLC increased its position in Heico by 0.4% in the 4th quarter. Fisher Asset Management LLC now owns 1,596,380 shares of the aerospace company’s stock worth $123,688,000 after buying an additional 6,501 shares during the period. Federated Investors Inc. PA increased its position in Heico by 7.8% in the 1st quarter. Federated Investors Inc. PA now owns 829,546 shares of the aerospace company’s stock worth $78,699,000 after buying an additional 59,748 shares during the period. Two Sigma Investments LP increased its position in Heico by 140.6% in the 4th quarter. Two Sigma Investments LP now owns 245,747 shares of the aerospace company’s stock worth $19,040,000 after buying an additional 143,602 shares during the period. Loomis Sayles & Co. L P increased its position in Heico by 22.3% in the 1st quarter. Loomis Sayles & Co. L P now owns 221,537 shares of the aerospace company’s stock worth $21,017,000 after buying an additional 40,419 shares during the period. Finally, Telemark Asset Management LLC increased its position in Heico by 40.0% in the 4th quarter. Telemark Asset Management LLC now owns 175,000 shares of the aerospace company’s stock worth $11,749,000 after buying an additional 50,000 shares during the period. Institutional investors and hedge funds own 26.09% of the company’s stock.

About Heico

HEICO Corporation, through its subsidiaries, designs, manufactures, and sells aerospace, defense, and electronic related products and services in the United States and internationally. The company's Flight Support Group segment provides jet engine and aircraft component replacement parts; thermal insulation blankets and parts; renewable/reusable insulation systems; and specialty components.

Further Reading: Mutual Funds

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