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

Key Points

• Wall Street Zen downgraded Heico from “buy” to “hold,” though the broader analyst consensus remains “Moderate Buy” with an average price target of $374.56.
• Heico shares opened at $357.08, up 0.8%, with a market capitalization of about $49.87 billion and a 12-month trading range of $256.11 to $369.48.
• The aerospace company reported strong quarterly results, earning $1.66 per share versus the $1.33 consensus estimate and generating $1.38 billion in revenue, up 25.3% year over year.

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

A number of other brokerages also recently commented on HEI. Weiss Ratings upgraded Heico from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Thursday, July 16th. Truist Financial upgraded Heico to a "strong-buy" rating in a report on Friday, May 1st. Zacks Research raised Heico from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, June 9th. Royal Bank Of Canada raised their target price on Heico from $375.00 to $390.00 and gave the stock an "outperform" rating in a research note on Friday, May 29th. Finally, Morgan Stanley set a $370.00 price target on Heico in a report on Wednesday, July 15th. Three research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $374.56.

Heico Stock Up 0.8%

HEI stock opened at $357.08 on Friday. The company has a market cap of $49.87 billion, a price-to-earnings ratio of 63.76, a PEG ratio of 3.67 and a beta of 1.03. The company has a current ratio of 2.92, a quick ratio of 1.36 and a debt-to-equity ratio of 0.53. Heico has a 12 month low of $256.11 and a 12 month high of $369.48. The firm has a 50-day moving average of $341.60 and a two-hundred day moving average of $318.64.

Heico (NYSE:HEI - Get Free Report) last issued its earnings results on Wednesday, May 27th. The aerospace company reported $1.66 earnings per share for the quarter, topping the consensus estimate of $1.33 by $0.33. The business had revenue of $1.38 billion for the quarter, compared to analysts' expectations of $1.25 billion. Heico had a return on equity of 17.52% and a net margin of 16.08%.The business's revenue for the quarter was up 25.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.12 EPS. As a group, analysts forecast that Heico will post 5.95 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CAO Bradley K. Rowen sold 1,326 shares of the stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $241.63, for a total value of $320,401.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 4.86% of the company's stock.

Hedge Funds Weigh In On Heico

Large investors have recently modified their holdings of the business. IFC & Insurance Marketing Inc. acquired a new stake in shares of Heico during the 4th quarter worth about $26,000. CBIZ Investment Advisory Services LLC raised its holdings in Heico by 1,000.0% in the 4th quarter. CBIZ Investment Advisory Services LLC now owns 88 shares of the aerospace company's stock valued at $28,000 after buying an additional 80 shares during the period. Birchwood Financial Partners Inc. acquired a new position in Heico in the fourth quarter valued at about $32,000. V Square Quantitative Management LLC acquired a new position in Heico in the fourth quarter valued at about $37,000. Finally, FNY Investment Advisers LLC boosted its stake in Heico by 862.5% during the fourth quarter. FNY Investment Advisers LLC now owns 154 shares of the aerospace company's stock worth $49,000 after buying an additional 138 shares during the period. Institutional investors and hedge funds own 27.12% of the company's stock.

About Heico

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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