Heico (NYSE:HEI) Downgraded by Bank of America

Bank of America downgraded shares of Heico (NYSE:HEI) from a buy rating to an underperform rating in a research note released on Thursday, Briefing.com Automated Import reports. Bank of America 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 brokerages also recently commented on HEI. ValuEngine downgraded shares of Zuora from a buy rating to a hold rating in a research note on Saturday, June 1st. Credit Suisse Group reissued a buy rating and issued a $241.00 target price on shares of FedEx in a research note on Thursday, May 30th. Cowen downgraded shares of Total System Services from an outperform rating to a market perform rating in a research note on Wednesday, May 29th. UBS Group raised their target price on shares of Spotify Technology from $180.00 to $182.00 and gave the company a buy rating in a research note on Tuesday, April 30th. Finally, Robert W. Baird began coverage on shares of Falcon Minerals in a research note on Thursday, May 23rd. They issued an outperform rating and a $7.35 target price on the stock. One analyst has rated the stock with a sell rating, two have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of Buy and an average price target of $113.50.

Shares of HEI stock opened at $136.01 on Thursday. The company has a fifty day simple moving average of $126.77. Heico has a 52 week low of $71.47 and a 52 week 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 stock has a market cap of $18.20 billion, a P/E ratio of 65.71, a PEG ratio of 4.54 and a beta of 0.70.

Heico (NYSE:HEI) last issued its earnings results on Tuesday, May 28th. The aerospace company reported $0.60 EPS for the quarter, beating the Zacks’ 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 business had revenue of $515.60 million for the quarter, compared to the consensus estimate of $480.17 million. During the same quarter last year, the firm posted $0.55 EPS. The business’s revenue for the quarter was up 19.7% compared to the same quarter last year. As a group, equities analysts forecast that Heico will post 2.21 earnings per share for the current fiscal year.

The company also recently declared a dividend, which will be paid on Monday, July 15th. Investors of record on Monday, July 1st will be paid a dividend of $0.07 per share. The ex-dividend date is Friday, June 28th. Heico’s dividend payout ratio (DPR) is 7.73%.

In related news, CAO Steven M. Walker sold 4,200 shares of Heico stock in a transaction 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 approximately $212,386. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Alan Schriesheim sold 8,000 shares of Heico stock in a transaction on Monday, April 15th. The stock was sold at an average price of $85.86, for a total transaction of $686,880.00. Following the sale, the director now directly owns 1,700 shares in the company, valued at approximately $145,962. The disclosure for this sale can be found here. Insiders have sold a total of 175,473 shares of company stock worth $17,384,987 in the last ninety days. 9.23% of the stock is currently owned by insiders.

Institutional investors have recently added to or reduced their stakes in the stock. Macquarie Group Ltd. increased its stake in Heico by 751.2% during the 4th quarter. Macquarie Group Ltd. now owns 349 shares of the aerospace company’s stock worth $27,000 after buying an additional 308 shares during the period. West Oak Capital LLC increased its stake in Heico by 60.0% during the 1st quarter. West Oak Capital LLC now owns 400 shares of the aerospace company’s stock worth $38,000 after buying an additional 150 shares during the period. Executive Wealth Management LLC acquired a new position in Heico during the 4th quarter worth $43,000. Icon Wealth Partners LLC acquired a new position in Heico during the 1st quarter worth $96,000. Finally, Brand Asset Management Group Inc. acquired a new position in Heico during the 1st quarter worth $124,000. 24.90% of the stock is currently owned by hedge funds and other institutional investors.

About Heico

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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