National Bank Financial Downgrades Heroux Devtek Inc (HRX) to Sector Perform Market Weight

National Bank Financial Downgrades Heroux Devtek Inc (HRX) to Sector Perform Market Weight

Heroux Devtek Inc (TSE:HRX) was downgraded by stock analysts at National Bank Financial from an “outperform market weight” rating to a “sector perform market weight” rating in a research note issued to investors on Monday.

A number of other analysts have also recently issued reports on the company. Scotiabank dropped their price objective on Heroux Devtek from C$16.50 to C$14.00 and set an “outperform” rating on the stock in a report on Tuesday. Raymond James Financial, Inc. dropped their price objective on Heroux Devtek from C$14.50 to C$13.00 and set a “market perform” rating on the stock in a report on Tuesday. TD Securities dropped their price objective on Heroux Devtek from C$14.50 to C$13.50 and set a “hold” rating on the stock in a report on Tuesday. Finally, Desjardins cut Heroux Devtek from a “top pick” rating to a “hold” rating and set a C$16.00 price objective on the stock. in a report on Wednesday, February 8th. Three equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of C$14.50.

Shares of Heroux Devtek (TSE:HRX) opened at 11.63 on Monday. The firm has a market capitalization of $419.85 million and a price-to-earnings ratio of 13.22. The stock’s 50 day moving average price is $12.81 and its 200-day moving average price is $14.07. Heroux Devtek has a 52 week low of $11.06 and a 52 week high of $16.05.

About Heroux Devtek

Heroux Devtek Inc is a Canada-based company engaged in the design, development, manufacture, repair and overhaul of landing gear and actuation systems and components for the aerospace market. It manufactures electronic enclosures, heat exchangers and cabinets for airborne radar, electro-optic systems and aircraft controls through its Magtron operations, as well as fluid filters products through its Bolton operations.

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