Heico (NYSE:HEI) Downgraded to "Hold" Rating by Wall Street Zen

Key Points

• Wall Street Zen downgraded Heico from “buy” to “hold,” while the broader analyst consensus remains “Moderate Buy” with an average price target of $379.56.
• Heico reported strong quarterly results, with EPS of $1.66 versus the $1.33 consensus estimate and revenue of $1.38 billion, up 25.3% year over year.
• The stock opened at $355.49, near its 52-week high of $376.86. Institutional investors own 27.12% of Heico, while insiders own 4.86%.

Heico (NYSE:HEI - Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research report issued to clients and investors on Sunday.

Other equities analysts have also issued research reports about the stock. Morgan Stanley set a $370.00 target price on shares of Heico in a report on Wednesday, July 15th. Citigroup restated a "buy" rating and set a $429.00 price objective (up from $410.00) on shares of Heico in a research note on Thursday, August 13th. Weiss Ratings raised Heico from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Thursday, July 16th. UBS Group reiterated a "neutral" rating and issued a $390.00 target price (up from $371.00) on shares of Heico in a research note on Monday, June 1st. Finally, Rothschild & Co Redburn set a $360.00 target price on Heico and gave the company a "buy" rating in a report on Wednesday, May 13th. Three analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, Heico presently has an average rating of "Moderate Buy" and an average target price of $379.56.

Heico Trading Up 1.4%

NYSE HEI opened at $355.49 on Friday. The firm has a market capitalization of $49.65 billion, a price-to-earnings ratio of 63.48, a PEG ratio of 3.64 and a beta of 1.04. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.36 and a current ratio of 2.92. Heico has a one year low of $256.11 and a one year high of $376.86. The company's 50 day moving average price is $353.04 and its 200 day moving average price is $320.96.

Heico (NYSE:HEI - Get Free Report) last released its quarterly earnings data on Wednesday, May 27th. The aerospace company reported $1.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.33 by $0.33. Heico had a net margin of 16.08% and a return on equity of 17.52%. The company had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.25 billion. During the same period in the previous year, the firm earned $1.12 earnings per share. Heico's revenue for the quarter was up 25.3% on a year-over-year basis. On average, sell-side analysts predict that Heico will post 6.02 EPS for the current year.

Insider Buying and Selling at Heico

In other news, CAO Bradley K. Rowen sold 1,326 shares of the firm's stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $241.63, for a total transaction of $320,401.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 4.86% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Heico

A number of hedge funds have recently bought and sold shares of the business. Maridea Wealth Management LLC purchased a new position in shares of Heico during the 2nd quarter valued at approximately $1,128,000. Indivisible Partners bought a new stake in shares of Heico in the fourth quarter worth $5,883,000. Silvant Capital Management LLC bought a new stake in shares of Heico in the second quarter worth $9,385,000. PFA Pension Forsikringsaktieselskab acquired a new stake in Heico in the fourth quarter valued at $8,395,000. Finally, SBI Okasan Asset Management Co.Ltd. acquired a new stake in Heico in the second quarter valued at $1,262,000. Institutional investors and hedge funds own 27.12% of the company's stock.

Heico Company Profile

HEICO Corporation is an aerospace, defense and electronics company that designs, manufactures, and sells a range of products and provides repair and aftermarket services. Headquartered in Hollywood, Florida, HEICO supplies replacement components, repair services and engineered systems for commercial and business aviation, military and space markets as well as for selected industrial and medical customers. The company's offerings are focused on sustaining and improving the reliability and availability of complex equipment across its end markets.

HEICO operates through two principal business areas.

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