Heico (NYSE:HEI) Stock Price Target Lowered at Wells Fargo & Company

by · The Markets Daily

Heico (NYSE:HEI – Get Free Report) had its price target decreased by investment analysts at Wells Fargo & Company from $350.00 to $335.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage presently has an “equal weight” rating on the aerospace company’s stock. Wells Fargo & Company‘s target price indicates a potential upside of 9.44% from the stock’s current price.

Several other equities analysts have 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 research 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. Wall Street Zen raised shares of Heico from a “hold” rating to a “buy” rating in a research report on Monday, August 31st. Citigroup increased their target price on Heico from $429.00 to $441.00 and gave the company a “buy” rating in a research note on Friday, August 28th. Finally, UBS Group reaffirmed a “neutral” rating and set a $396.00 price target (up from $382.00) on shares of Heico in a report on Thursday, August 27th. Three investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $391.07.

Read Our Latest Research Report on Heico

Heico Stock Performance

Shares of HEI stock traded down $1.00 during trading on Wednesday, reaching $306.11. 40,482 shares of the company’s stock traded hands, compared to its average volume of 583,684. The firm’s 50-day moving average is $337.65 and its 200 day moving average is $319.10. The company has a current ratio of 2.72, a quick ratio of 1.27 and a debt-to-equity ratio of 0.51. Heico has a 1 year low of $256.11 and a 1 year high of $376.86. The company has a market capitalization of $42.78 billion, a P/E ratio of 50.95, a PEG ratio of 2.57 and a beta of 1.04.

Heico (NYSE:HEI – Get Free Report) last issued its quarterly earnings data on Tuesday, August 25th. The aerospace company reported $1.67 EPS for the quarter, beating the consensus estimate of $1.51 by $0.16. Heico had a net margin of 16.38% and a return on equity of 18.00%. The company had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.36 billion. During the same quarter in the previous year, the company earned $1.26 earnings per share. Heico’s revenue for the quarter was up 23.1% on a year-over-year basis. Equities research analysts expect that Heico will post 6.25 EPS for the current year.

Hedge Funds Weigh In On Heico

Several institutional investors have recently added to or reduced their stakes in HEI. Diamant Asset Management Inc. lifted its holdings in shares of Heico by 25,698.9% in the 1st quarter. Diamant Asset Management Inc. now owns 763,647 shares of the aerospace company’s stock valued at $209,392,000 after acquiring an additional 760,687 shares during the last quarter. Munro Partners boosted its holdings in shares of Heico by 44.2% in the 4th quarter. Munro Partners now owns 284,898 shares of the aerospace company’s stock worth $92,190,000 after purchasing an additional 87,265 shares during the period. Bank of New York Mellon Corp purchased a new stake in Heico during the 2nd quarter valued at $54,386,000. Weitz Investment Management Inc. bought a new position in Heico during the second quarter valued at $52,737,000. Finally, Freestone Grove Partners LP purchased a new stake in shares of Heico in the second quarter valued at $50,276,000. Hedge funds and other institutional investors own 27.12% of the company’s stock.

Heico Company Profile

(Get Free Report)

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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