Other research analysts have also recently issued research reports about the stock. Canaccord Genuity boosted their price target on shares of Heico Corp. from $75.00 to $82.00 in a report on Friday, August 19th. Zacks Investment Research upgraded shares of Heico Corp. from a hold rating to a buy rating and set a $75.00 price target for the company in a report on Friday, May 27th. Jefferies Group reiterated a hold rating and set a $72.00 price target on shares of Heico Corp. in a report on Thursday, August 25th. Credit Suisse Group AG boosted their price target on shares of Heico Corp. from $62.00 to $68.00 and gave the stock a neutral rating in a report on Thursday, August 25th. Finally, Bank of America Corp. cut shares of Heico Corp. from a buy rating to a neutral rating and set a $75.00 price target for the company. in a report on Tuesday, August 30th. They noted that the move was a valuation call. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The company has a consensus rating of Hold and an average price target of $74.40.
Shares of Heico Corp. (NYSE:HEI) opened at 69.19 on Tuesday. The firm has a market cap of $4.65 billion, a price-to-earnings ratio of 31.31 and a beta of 0.64. The stock has a 50 day moving average of $70.21 and a 200-day moving average of $65.03. Heico Corp. has a 1-year low of $47.24 and a 1-year high of $75.01.
Heico Corp. (NYSE:HEI) last posted its quarterly earnings results on Wednesday, August 24th. The company reported $0.62 EPS for the quarter, topping the consensus estimate of $0.59 by $0.03. Heico Corp. had a net margin of 11.19% and a return on equity of 15.99%. The company earned $356.10 million during the quarter, compared to analysts’ expectations of $356.35 million. During the same quarter in the previous year, the business posted $0.51 EPS. The firm’s revenue was up 18.5% on a year-over-year basis. Equities analysts anticipate that Heico Corp. will post $2.15 EPS for the current fiscal year.
A number of institutional investors have recently made changes to their positions in the company. Riverbridge Partners LLC increased its position in shares of Heico Corp. by 9.1% in the second quarter. Riverbridge Partners LLC now owns 1,335,913 shares of the company’s stock worth $89,252,000 after buying an additional 111,369 shares during the last quarter. Brown Advisory Inc. increased its position in shares of Heico Corp. by 1.4% in the second quarter. Brown Advisory Inc. now owns 637,781 shares of the company’s stock worth $42,611,000 after buying an additional 8,559 shares during the last quarter. Ardevora Asset Management LLP increased its position in shares of Heico Corp. by 7.9% in the second quarter. Ardevora Asset Management LLP now owns 434,100 shares of the company’s stock worth $29,002,000 after buying an additional 31,600 shares during the last quarter. Mesirow Financial Investment Management Equity Management purchased a new position in shares of Heico Corp. during the second quarter worth approximately $22,317,000. Finally, Eagle Asset Management Inc. increased its position in shares of Heico Corp. by 100.3% in the second quarter. Eagle Asset Management Inc. now owns 199,673 shares of the company’s stock worth $13,340,000 after buying an additional 100,009 shares during the last quarter. Institutional investors own 28.08% of the company’s stock.
About Heico Corp.
HEICO Corporation is an aerospace and electronics company. The Company provides commercial aircraft replacement parts, aircraft accessories component repair and overhaul services for avionic, electro-mechanical, flight surface, hydraulic and pneumatic applications; distributes aircraft parts, and manufactures other critical aircraft parts.
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