Royal Bank of Canada Increases Heroux Devtek (TSE:HRX) Price Target to C$24.00

Heroux Devtek (TSE:HRX) had its target price hoisted by Royal Bank of Canada from C$21.00 to C$24.00 in a research note published on Monday morning, BayStreet.CA reports. They currently have an outperform rating on the stock.

Other analysts also recently issued research reports about the stock. Raymond James set a C$19.50 price objective on shares of Heroux Devtek and gave the company an outperform rating in a report on Thursday, June 20th. Desjardins boosted their price objective on shares of Heroux Devtek from C$21.00 to C$23.00 and gave the company a buy rating in a report on Friday, May 24th. National Bank Financial boosted their price objective on shares of Heroux Devtek from C$18.00 to C$20.00 and gave the company an outperform rating in a report on Friday, May 24th. Finally, TD Securities boosted their price objective on shares of Heroux Devtek from C$19.50 to C$22.00 and gave the company a buy rating in a report on Friday, May 24th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Heroux Devtek presently has a consensus rating of Buy and an average price target of C$21.33.

TSE HRX opened at C$17.80 on Monday. The company has a quick ratio of 0.93, a current ratio of 1.95 and a debt-to-equity ratio of 64.42. The company has a market capitalization of $710.88 million and a P/E ratio of 24.45. Heroux Devtek has a 12-month low of C$11.05 and a 12-month high of C$20.30. The firm has a 50-day moving average price of C$19.47 and a two-hundred day moving average price of C$16.89.

Heroux Devtek (TSE:HRX) last posted its quarterly earnings data on Thursday, May 23rd. The company reported C$0.36 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of C$0.23 by C$0.13. The business had revenue of C$157.91 million during the quarter, compared to the consensus estimate of C$146.50 million. Equities analysts expect that Heroux Devtek will post 1.1799999 EPS for the current year.

In other news, Senior Officer Jean Gravel sold 3,300 shares of the company’s stock in a transaction that occurred on Friday, May 31st. The shares were sold at an average price of C$16.86, for a total transaction of C$55,638.00. Following the completion of the sale, the insider now owns 42,921 shares of the company’s stock, valued at approximately C$723,648.06.

Heroux Devtek Company Profile

Héroux-Devtek Inc engages in the design, development, manufacture, integration, testing, and repair and overhaul of aircraft landing gears, hydraulic flight control actuators, and fracture-critical components in Canada, the United States, and the United Kingdom. The company also manufactures and sells hydraulic systems, fluid filtration systems, electronic enclosures, heat exchangers, and cabinets for suppliers of airborne radar, electro-optic systems, and aircraft controls.

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Analyst Recommendations for Heroux Devtek (TSE:HRX)

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