The Heico Corp (HEI) Upgraded to Buy by Zacks Investment Research

The Heico Corp (HEI) Upgraded to Buy by Zacks Investment Research

According to Zacks, “Heico Corporation is engaged primarily in certain niche segments of the aviation, defense, space and electronics industries through its Hollywood, FL-based HEICO Aerospace Holdings Corp. subsidiary and its Miami, FL-based HEICO Electronic Technologies Corp. subsidiary. HEICO’s customers include a majority of the world’s airlines and airmotives as well as numerous defense and space contractors and military agencies worldwide in addition to telecommunications, electronics and medical equipment manufacturers. “

Zacks Investment Research upgraded shares of Heico Corp (NYSE:HEI) from a hold rating to a buy rating in a research note released on Tuesday. They currently have $83.00 price target on the aerospace company’s stock.

Shares of Heico Corp (HEI) opened at 74.66 on Tuesday. The company has a market capitalization of $6.30 billion, a price-to-earnings ratio of 37.13 and a beta of 0.52. The company’s 50 day moving average is $72.34 and its 200 day moving average is $66.57. Heico Corp has a one year low of $50.43 and a one year high of $75.17. Heico Corp (NYSE:HEI) last posted its quarterly earnings data on Tuesday, May 23rd. The aerospace company reported $0.53 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.50 by $0.03. The company had revenue of $368.70 million for the quarter, compared to analysts’ expectations of $368.78 million. Heico Corp had a net margin of 11.35% and a return on equity of 15.97%. Heico Corp’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.57 earnings per share. Equities research analysts predict that Heico Corp will post $2.09 earnings per share for the current year.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Cambridge Investment Research Advisors Inc. acquired a new position in shares of Heico Corp during the first quarter worth approximately $202,000. Brown Advisory Securities LLC acquired a new position in shares of Heico Corp during the first quarter worth approximately $202,000. EFG Asset Management Americas Corp. acquired a new position in shares of Heico Corp during the first quarter worth approximately $216,000. Origin Asset Management LLP acquired a new position in shares of Heico Corp during the fourth quarter worth approximately $219,000. Finally, Concorde Asset Management LLC acquired a new position in shares of Heico Corp during the first quarter worth approximately $228,000. Institutional investors and hedge funds own 26.19% of the company’s stock. About Heico Corp

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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “HEI”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”}); Get a free copy of the Zacks research report on Heico Corp (HEI)

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