Bank of America downgraded shares of Heico (NYSE:HEI) from a buy rating to an underperform rating in a research note issued to investors on Thursday morning, Briefing.com Automated Import reports. The brokerage currently has $105.00 price objective on the aerospace company’s stock. The analysts noted that the move was a valuation call.
Several other research analysts have also recently issued reports on HEI. UBS Group increased their price target on shares of Spotify Technology from $180.00 to $182.00 and gave the stock a buy rating in a report on Tuesday, April 30th. Credit Suisse Group reissued a buy rating and set a $241.00 price target on shares of FedEx in a report on Thursday, May 30th. Cowen cut shares of Total System Services from an outperform rating to a market perform rating in a report on Wednesday, May 29th. Robert W. Baird assumed coverage on shares of Falcon Minerals in a report on Thursday, May 23rd. They set an outperform rating and a $7.35 price target for the company. Finally, ValuEngine cut shares of Zuora from a buy rating to a hold rating in a report on Saturday, June 1st. One investment analyst has rated the stock with a sell rating, two have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Heico has a consensus rating of Buy and a consensus target price of $113.50.
NYSE HEI opened at $136.01 on Thursday. The stock has a market capitalization of $18.20 billion, a PE ratio of 65.71, a P/E/G ratio of 4.54 and a beta of 0.70. Heico has a 52-week low of $71.47 and a 52-week high of $138.79. The business’s 50-day moving average price is $126.77. The company has a quick ratio of 1.56, a current ratio of 3.20 and a debt-to-equity ratio of 0.33.
Heico (NYSE:HEI) last posted its quarterly earnings results on Tuesday, May 28th. The aerospace company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.49 by $0.11. The firm had revenue of $515.60 million during the quarter, compared to analysts’ expectations of $480.17 million. Heico had a net margin of 15.36% and a return on equity of 18.31%. The firm’s revenue for the quarter was up 19.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.55 earnings per share. On average, equities research analysts predict that Heico will post 2.21 earnings per share for the current year.
The business also recently announced a dividend, which will be paid on Monday, July 15th. Shareholders of record on Monday, July 1st will be given a dividend of $0.07 per share. The ex-dividend date is Friday, June 28th. Heico’s payout ratio is currently 7.73%.
In other Heico news, Director Alan Schriesheim sold 8,000 shares of the company’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $85.86, for a total transaction of $686,880.00. Following the transaction, the director now directly owns 1,700 shares in the company, valued at $145,962. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Steven M. Walker sold 4,200 shares of the company’s stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $103.00, for a total transaction of $432,600.00. Following the transaction, the chief accounting officer now owns 2,062 shares in the company, valued at $212,386. The disclosure for this sale can be found here. Insiders have sold 175,473 shares of company stock worth $17,384,987 over the last 90 days. 9.23% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Dividend Assets Capital LLC acquired a new position in Heico during the second quarter worth about $381,000. EFG Asset Management Americas Corp. grew its position in Heico by 2.6% during the second quarter. EFG Asset Management Americas Corp. now owns 37,583 shares of the aerospace company’s stock worth $5,029,000 after buying an additional 967 shares during the period. Empowered Funds LLC acquired a new position in Heico during the second quarter worth about $1,345,000. Private Trust Co. NA acquired a new position in Heico during the second quarter worth about $334,000. Finally, Nordea Investment Management AB grew its position in Heico by 1.4% during the first quarter. Nordea Investment Management AB now owns 52,744 shares of the aerospace company’s stock worth $5,003,000 after buying an additional 739 shares during the period. Institutional investors own 24.90% of the company’s stock.
Heico Company Profile
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.
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