Heico (NYSE:HEI) Rating Lowered to Underperform at Bank of America

Bank of America lowered shares of Heico (NYSE:HEI) from a buy rating to an underperform rating in a research report released on Thursday, Briefing.com Automated Import reports. The firm currently has $105.00 price target on the aerospace company’s stock. The analysts noted that the move was a valuation call.

A number of other research analysts have also weighed in on HEI. Credit Suisse Group reaffirmed a buy rating and issued a $241.00 price objective on shares of FedEx in a research note on Thursday, May 30th. Canaccord Genuity restated a buy rating and set a $10.00 price objective on shares of Synthesis Energy Systems in a report on Thursday, May 30th. Zacks Investment Research downgraded shares of Hammerson from a hold rating to a sell rating in a report on Friday, May 24th. SunTrust Banks raised their price objective on shares of Okta to $110.00 and gave the stock a hold rating in a report on Friday, May 31st. Finally, ValuEngine downgraded shares of Zuora from a buy rating to a hold rating in a research note on Saturday, June 1st. One analyst has rated the stock with a sell rating, two have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Heico presently has a consensus rating of Buy and an average target price of $113.50.

HEI opened at $136.01 on Thursday. Heico has a twelve month low of $71.47 and a twelve month high of $138.79. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.56 and a current ratio of 3.20. The business’s fifty day moving average price is $126.77. The firm has a market capitalization of $18.20 billion, a PE ratio of 75.14, a PEG ratio of 4.40 and a beta of 0.71.

Heico (NYSE:HEI) last posted its quarterly earnings data on Tuesday, May 28th. The aerospace company reported $0.60 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.49 by $0.11. Heico had a net margin of 15.36% and a return on equity of 18.31%. The company had revenue of $515.60 million during the quarter, compared to analysts’ expectations of $480.17 million. During the same period in the prior year, the company posted $0.55 earnings per share. Heico’s revenue for the quarter was up 19.7% compared to the same quarter last year. On average, equities research analysts anticipate that Heico will post 2.21 EPS for the current fiscal year.

The firm also recently announced a dividend, which will be paid on Monday, July 15th. Stockholders of record on Monday, July 1st will be paid a $0.07 dividend. The ex-dividend date of this dividend is Friday, June 28th. Heico’s payout ratio is 7.73%.

In other Heico news, CEO Laurans A. Mendelson sold 100,000 shares of Heico stock in a transaction that occurred on Friday, May 31st. The shares were sold at an average price of $98.17, for a total transaction of $9,817,000.00. Following the completion of the sale, the chief executive officer now directly owns 927,445 shares in the company, valued at $91,047,275.65. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Steven M. Walker sold 4,200 shares of Heico stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $103.00, for a total transaction of $432,600.00. Following the sale, the chief accounting officer now owns 2,062 shares of the company’s stock, valued at $212,386. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 167,473 shares of company stock valued at $16,698,107. 9.23% of the stock is owned by corporate insiders.

A number of institutional investors have recently made changes to their positions in the business. Dividend Assets Capital LLC bought a new stake in Heico during the second quarter valued at approximately $381,000. EFG Asset Management Americas Corp. lifted its holdings in shares of Heico by 2.6% in the 2nd quarter. EFG Asset Management Americas Corp. now owns 37,583 shares of the aerospace company’s stock worth $5,029,000 after acquiring an additional 967 shares during the last quarter. Empowered Funds LLC bought a new stake in shares of Heico in the 2nd quarter worth approximately $1,345,000. Private Trust Co. NA bought a new stake in shares of Heico in the 2nd quarter worth approximately $334,000. Finally, Nordea Investment Management AB lifted its holdings in shares of Heico by 1.4% in the 1st quarter. Nordea Investment Management AB now owns 52,744 shares of the aerospace company’s stock worth $5,003,000 after acquiring an additional 739 shares during the last quarter. Institutional investors and hedge funds own 24.90% of the company’s stock.

Heico Company Profile

HEICO Corporation, through its subsidiaries, designs, manufactures, and sells aerospace, defense, and electronic related products and services in the United States and internationally. The company's Flight Support Group segment provides jet engine and aircraft component replacement parts; thermal insulation blankets and parts; renewable/reusable insulation systems; and specialty components.

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Analyst Recommendations for Heico (NYSE:HEI)

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