Heico (NYSE:HEI) Rating Lowered to "Hold" at Wall Street Zen

Key Points

• Wall Street Zen downgraded Heico from “Buy” to “Hold,” while broader analyst sentiment remains “Moderate Buy,” with an average price target of $391.07.
• Heico shares opened at $302.81, down 1.2%, and trade below their 50-day moving average of $335.38 but above their 200-day average of $319.21.
• The aerospace company exceeded quarterly expectations, reporting $1.67 in earnings per share and $1.41 billion in revenue, with revenue up 23.1% year over year.

Heico (NYSE:HEI - Get Free Report) was downgraded by analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a report issued on Saturday, Wall Street Zen reports.

Several other equities analysts also recently issued reports on the stock. Jefferies Financial Group set a $430.00 price target on shares of Heico and gave the company a "buy" rating in a report on Wednesday, August 26th. Zacks Research raised shares of Heico from a "hold" rating to a "strong-buy" rating in a report on Tuesday, June 9th. Guggenheim initiated coverage on shares of Heico in a research note on Monday, September 14th. They issued a "neutral" rating for the company. Deutsche Bank Aktiengesellschaft set a $421.00 target price on Heico and gave the stock a "buy" rating in a report on Wednesday, August 19th. Finally, Morgan Stanley set a $365.00 price objective on Heico and gave the company an "equal weight" rating in a research report on Wednesday, September 2nd. Three equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and six have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $391.07.

Heico Stock Down 1.2%

NYSE HEI opened at $302.81 on Friday. Heico has a 1-year low of $256.11 and a 1-year high of $376.86. The company has a current ratio of 2.72, a quick ratio of 1.27 and a debt-to-equity ratio of 0.51. The stock's 50 day moving average is $335.38 and its two-hundred day moving average is $319.21. The company has a market capitalization of $42.32 billion, a price-to-earnings ratio of 50.39, a PEG ratio of 2.58 and a beta of 1.09.

Heico (NYSE:HEI - Get Free Report) last announced its quarterly earnings results on Tuesday, August 25th. The aerospace company reported $1.67 earnings per share for the quarter, beating analysts' consensus estimates of $1.51 by $0.16. The firm had revenue of $1.41 billion for the quarter, compared to analysts' expectations of $1.36 billion. Heico had a return on equity of 18.00% and a net margin of 16.38%.The business's revenue was up 23.1% compared to the same quarter last year. During the same period in the prior year, the business posted $1.26 earnings per share. Equities analysts forecast that Heico will post 6.25 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Heico

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Diamant Asset Management Inc. raised its position in shares of Heico by 25,698.9% in the first quarter. Diamant Asset Management Inc. now owns 763,647 shares of the aerospace company's stock valued at $209,392,000 after purchasing an additional 760,687 shares during the period. Munro Partners boosted its holdings in shares of Heico by 44.2% during the 4th quarter. Munro Partners now owns 284,898 shares of the aerospace company's stock worth $92,190,000 after buying an additional 87,265 shares during the period. Weitz Investment Management Inc. bought a new stake in shares of Heico during the 2nd quarter worth about $52,737,000. Bank of New York Mellon Corp acquired a new position in Heico in the 2nd quarter valued at about $54,386,000. Finally, Freestone Grove Partners LP acquired a new position in Heico in the 2nd quarter valued at about $50,276,000. 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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