Heico (NYSE:HEI – Get Free Report) had its price target cut by research analysts at Wells Fargo & Company from $350.00 to $335.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage currently has an “equal weight” rating on the aerospace company’s stock. Wells Fargo & Company‘s price objective indicates a potential upside of 9.44% from the company’s current price.
Several other equities research analysts have also recently issued reports on the stock. Citigroup lifted their target price on shares of Heico from $429.00 to $441.00 and gave the stock a “buy” rating in a research note on Friday, August 28th. Stifel Nicolaus set a $410.00 target price on shares of Heico in a research note on Thursday, August 27th. Jefferies Financial Group set a $430.00 price target on shares of Heico and gave the company a “buy” rating in a research note on Wednesday, August 26th. Melius Research set a $350.00 price target on shares of Heico and gave the company a “hold” rating in a research report on Monday, September 14th. Finally, Deutsche Bank Aktiengesellschaft set a $421.00 price target on Heico and gave the stock a “buy” rating in a report on Wednesday, August 19th. Three analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, Heico presently has an average rating of “Moderate Buy” and an average target price of $391.07.
View Our Latest Stock Analysis on HEI
Heico Stock Down 0.3%
Heico (NYSE:HEI – Get Free Report) last announced its quarterly earnings results on Tuesday, August 25th. The aerospace company reported $1.67 EPS for the quarter, topping the consensus estimate of $1.51 by $0.16. The business had revenue of $1.41 billion for the quarter, compared to analysts’ expectations of $1.36 billion. Heico had a net margin of 16.38% and a return on equity of 18.00%. The business’s quarterly revenue was up 23.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.26 EPS. Equities research analysts anticipate that Heico will post 6.25 EPS for the current fiscal year.
Institutional Trading of Heico
A number of hedge funds have recently modified their holdings of the business. DSM Capital Partners LLC raised its stake in shares of Heico by 5.4% during the first quarter. DSM Capital Partners LLC now owns 807 shares of the aerospace company’s stock valued at $221,000 after acquiring an additional 41 shares during the last quarter. Cookson Peirce & Co. Inc. increased its holdings in Heico by 1.8% in the fourth quarter. Cookson Peirce & Co. Inc. now owns 2,684 shares of the aerospace company’s stock worth $869,000 after purchasing an additional 48 shares in the last quarter. Fortress Financial Solutions LLC boosted its holdings in shares of Heico by 2.8% during the 1st quarter. Fortress Financial Solutions LLC now owns 1,796 shares of the aerospace company’s stock worth $493,000 after buying an additional 49 shares in the last quarter. Bayban increased its stake in shares of Heico by 19.6% in the 1st quarter. Bayban now owns 330 shares of the aerospace company’s stock valued at $90,000 after acquiring an additional 54 shares in the last quarter. Finally, Sumitomo Life Insurance Co. lifted its position in shares of Heico by 0.6% during the 4th quarter. Sumitomo Life Insurance Co. now owns 9,979 shares of the aerospace company’s stock valued at $3,229,000 after acquiring an additional 59 shares during the period. Hedge funds and other institutional investors own 27.12% of the company’s stock.
Heico Company Profile
HEICO Corporation is an aerospace, defense, and electronics company that designs, manufactures, and distributes specialized products for commercial aviation, defense, space, medical, telecommunications, and other industrial markets. Founded in 1957, the company is headquartered in Hollywood, Florida, and serves customers worldwide, including airlines, original equipment manufacturers, government agencies, and defense contractors.
HEICO operates through two primary segments. Its Flight Support Group produces FAA-approved replacement parts for jet engines and aircraft components, as well as provides aircraft and engine component repair, overhaul, and maintenance services.
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