Analysts Set Heico Corporation (HEI) PT at $90.29

Heico Corporation (NYSE:HEI) has received a consensus recommendation of “Hold” from the eleven brokerages that are currently covering the company, MarketBeat.com reports. Seven investment analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $90.25.

Several equities research analysts have recently issued reports on the stock. Zacks Investment Research lowered shares of Heico Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, August 30th. Seaport Global Securities assumed coverage on shares of Heico Corporation in a report on Tuesday. They set a “neutral” rating and a $90.00 price objective for the company. Canaccord Genuity lifted their price objective on shares of Heico Corporation from $91.00 to $92.00 and gave the company a “buy” rating in a report on Wednesday, August 23rd. BidaskClub lowered shares of Heico Corporation from a “strong-buy” rating to a “buy” rating in a report on Friday, August 18th. Finally, Jefferies Group LLC reiterated a “hold” rating and set a $75.00 price objective on shares of Heico Corporation in a report on Monday, June 26th.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Virginia Retirement Systems ET AL increased its position in Heico Corporation by 10.3% during the 1st quarter. Virginia Retirement Systems ET AL now owns 8,600 shares of the aerospace company’s stock valued at $750,000 after purchasing an additional 800 shares during the period. Westpac Banking Corp increased its position in Heico Corporation by 8.5% during the 2nd quarter. Westpac Banking Corp now owns 80,174 shares of the aerospace company’s stock valued at $5,760,000 after purchasing an additional 6,274 shares during the period. Concorde Asset Management LLC increased its position in Heico Corporation by 290.5% during the 2nd quarter. Concorde Asset Management LLC now owns 10,219 shares of the aerospace company’s stock valued at $734,000 after purchasing an additional 7,602 shares during the period. Riverbridge Partners LLC increased its position in Heico Corporation by 21.8% during the 2nd quarter. Riverbridge Partners LLC now owns 1,621,457 shares of the aerospace company’s stock valued at $116,486,000 after purchasing an additional 290,014 shares during the period. Finally, Parkside Financial Bank & Trust increased its position in Heico Corporation by 23.6% during the 2nd quarter. Parkside Financial Bank & Trust now owns 1,482 shares of the aerospace company’s stock valued at $106,000 after purchasing an additional 283 shares during the period. 26.40% of the stock is currently owned by institutional investors and hedge funds.

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Heico Corporation (NYSE:HEI) traded down 0.08% during mid-day trading on Friday, reaching $85.42. 162,760 shares of the company’s stock traded hands. The stock has a 50-day moving average price of $83.55 and a 200-day moving average price of $74.60. The stock has a market capitalization of $7.21 billion, a PE ratio of 41.83 and a beta of 0.76. Heico Corporation has a 12-month low of $52.56 and a 12-month high of $87.36.

Heico Corporation (NYSE:HEI) last released its earnings results on Wednesday, August 23rd. The aerospace company reported $0.53 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.52 by $0.01. The firm had revenue of $391.50 million during the quarter, compared to analyst estimates of $390.55 million. Heico Corporation had a net margin of 12.04% and a return on equity of 15.56%. The business’s revenue was up 9.9% on a year-over-year basis. During the same quarter last year, the business earned $0.62 EPS. Equities research analysts expect that Heico Corporation will post $2.10 EPS for the current year.

About Heico Corporation

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.

Analyst Recommendations for Heico Corporation (NYSE:HEI)

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