TD Cowen Cuts Heico (NYSE:HEI) Price Target to $330.00

Heico (NYSE:HEI) had its target price reduced by research analysts at TD Cowen from $350.00 to $330.00 in a report released on Friday, Benzinga reports. The firm currently has a “hold” rating on the aerospace company’s stock. TD Cowen’s price target indicates a potential upside of 11.06% from the company’s previous close.

A number of other equities research analysts have also recently issued reports on HEI. The Goldman Sachs Group reaffirmed a “buy” rating and set a $491.00 target price on shares of Heico in a research report on Monday, August 31st. Deutsche Bank Aktiengesellschaft set a $421.00 price objective on shares of Heico and gave the stock a “buy” rating in a report on Wednesday, August 19th. Jefferies Financial Group set a $430.00 target price on shares of Heico and gave the stock a “buy” rating in a report on Wednesday, August 26th. Guggenheim initiated coverage on shares of Heico in a report on Monday, September 14th. They set a “neutral” rating for the company. Finally, UBS Group reaffirmed a “neutral” rating and issued a $396.00 price target (up from $382.00) on shares of Heico in a research report on Thursday, August 27th. Three equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $387.00.

Heico Stock Up 0.4%

NYSE HEI traded up $1.24 during trading on Friday, hitting $297.15. 33,064 shares of the company traded hands, compared to its average volume of 578,424. Heico has a 12 month low of $256.11 and a 12 month high of $376.86. The business has a fifty day simple moving average of $330.66 and a 200 day simple moving average of $319.86. The company has a market capitalization of $41.53 billion, a P/E ratio of 49.43, a PEG ratio of 2.49 and a beta of 1.09. 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 (NYSE:HEI) last released its quarterly earnings results on Tuesday, August 25th. The aerospace company reported $1.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.51 by $0.16. The company had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.36 billion. Heico had a return on equity of 18.00% and a net margin of 16.38%.The firm’s revenue was up 23.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.26 EPS. As a group, sell-side analysts predict that Heico will post 6.25 EPS for the current year.

Institutional Investors Weigh In On Heico

Institutional investors and hedge funds have recently bought and sold shares of the business. DSM Capital Partners LLC boosted its holdings in Heico by 5.4% during the first quarter. DSM Capital Partners LLC now owns 807 shares of the aerospace company’s stock worth $221,000 after purchasing an additional 41 shares during the last quarter. Fortress Financial Solutions LLC increased its stake in Heico by 2.8% in the 1st quarter. Fortress Financial Solutions LLC now owns 1,796 shares of the aerospace company’s stock valued at $493,000 after buying an additional 49 shares during the last quarter. Bayban increased its stake in Heico by 19.6% in the 1st quarter. Bayban now owns 330 shares of the aerospace company’s stock valued at $90,000 after buying an additional 54 shares during the last quarter. Sumitomo Life Insurance Co. lifted its position in Heico by 0.6% during the 4th quarter. Sumitomo Life Insurance Co. now owns 9,979 shares of the aerospace company’s stock worth $3,229,000 after buying an additional 59 shares in the last quarter. Finally, Mirador Capital Partners LP boosted its stake in shares of Heico by 1.2% during the 2nd quarter. Mirador Capital Partners LP now owns 5,742 shares of the aerospace company’s stock worth $2,045,000 after buying an additional 66 shares during the last quarter. Institutional investors own 27.12% of the company’s stock.

About Heico

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.