Heico (NYSE:HEI)‘s stock had its “buy” rating reiterated by research analysts at Canaccord Genuity in a note issued to investors on Wednesday. They currently have a $110.00 price objective on the aerospace company’s stock, up from their previous price objective of $95.00. Canaccord Genuity’s target price points to a potential upside of 13.17% from the company’s current price. The analysts noted that the move was a valuation call.
Several other research firms have also recently commented on HEI. Zacks Investment Research cut Heico from a “buy” rating to a “hold” rating in a research report on Saturday, September 9th. Stephens set a $104.00 target price on Heico and gave the stock a “hold” rating in a research report on Monday. Jefferies Group reiterated a “hold” rating and issued a $89.00 price objective (up from $75.00) on shares of Heico in a report on Thursday, August 24th. Credit Suisse Group reiterated an “outperform” rating and issued a $98.00 price objective (up from $85.00) on shares of Heico in a report on Tuesday, August 29th. Finally, BidaskClub cut Heico from a “buy” rating to a “hold” rating in a report on Thursday, August 24th. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $96.33.
Heico (NYSE HEI) opened at $97.20 on Wednesday. Heico has a 52-week low of $60.00 and a 52-week high of $100.00. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.39 and a current ratio of 2.89. The company has a market capitalization of $8,104.30, a PE ratio of 45.09, a P/E/G ratio of 4.35 and a beta of 0.73.
In related news, Director Mark H. Hildebrandt bought 1,316 shares of the stock in a transaction dated Thursday, October 5th. The stock was bought at an average price of $76.13 per share, with a total value of $100,187.08. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Thomas S. Irwin sold 20,000 shares of the business’s stock in a transaction dated Thursday, September 21st. The shares were sold at an average price of $76.28, for a total value of $1,525,600.00. Following the completion of the sale, the vice president now directly owns 31,110 shares of the company’s stock, valued at approximately $2,373,070.80. The disclosure for this sale can be found here. 9.76% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in HEI. Dupont Capital Management Corp lifted its stake in shares of Heico by 25.0% in the 2nd quarter. Dupont Capital Management Corp now owns 11,661 shares of the aerospace company’s stock valued at $838,000 after acquiring an additional 2,332 shares during the last quarter. Comerica Bank bought a new position in Heico during the 2nd quarter valued at approximately $209,000. Gamco Investors INC. ET AL raised its position in Heico by 24.6% during the 2nd quarter. Gamco Investors INC. ET AL now owns 83,945 shares of the aerospace company’s stock valued at $6,031,000 after purchasing an additional 16,549 shares during the last quarter. Tygh Capital Management Inc. raised its position in Heico by 72.8% during the 2nd quarter. Tygh Capital Management Inc. now owns 110,793 shares of the aerospace company’s stock valued at $7,959,000 after purchasing an additional 46,665 shares during the last quarter. Finally, Chicago Equity Partners LLC raised its position in Heico by 25.0% during the 2nd quarter. Chicago Equity Partners LLC now owns 6,237 shares of the aerospace company’s stock valued at $448,000 after purchasing an additional 1,247 shares during the last quarter. 26.93% of the stock is owned by institutional investors.
HEICO Corporation manufactures Federal Aviation Administration (FAA)-approved jet engine and aircraft component replacement parts, other than the original equipment manufacturers (OEMs) and their subcontractors. The Company also manufactures various types of electronic equipment for the aviation, medical, telecommunications and electronics industries.
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