Heico (NYSE:HEI) Downgraded by Wall Street Zen to Hold

Wall Street Zen lowered shares of Heico (NYSE:HEI) from a buy rating to a hold rating in a research report sent to investors on Saturday morning.

A number of other brokerages also recently issued reports on HEI. Royal Bank Of Canada restated an “outperform” rating and set a $375.00 price objective (up from $350.00) on shares of Heico in a research report on Monday, December 22nd. BNP Paribas Exane initiated coverage on shares of Heico in a report on Tuesday, November 18th. They set a “neutral” rating and a $330.00 price target for the company. Weiss Ratings restated a “buy (b-)” rating on shares of Heico in a research report on Monday, December 22nd. Barclays increased their price objective on shares of Heico from $280.00 to $300.00 and gave the stock an “equal weight” rating in a research report on Tuesday, September 2nd. Finally, UBS Group restated a “neutral” rating and issued a $371.00 target price (up previously from $359.00) on shares of Heico in a report on Monday, December 22nd. Ten research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $357.07.

Heico Price Performance

Shares of NYSE:HEI opened at $334.99 on Friday. The firm has a market cap of $46.68 billion, a PE ratio of 68.23, a price-to-earnings-growth ratio of 3.76 and a beta of 1.04. The firm’s fifty day moving average is $316.25 and its 200-day moving average is $316.79. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.51 and a current ratio of 2.83. Heico has a 52 week low of $216.68 and a 52 week high of $340.11.

Heico (NYSE:HEI) last posted its quarterly earnings data on Thursday, December 18th. The aerospace company reported $1.33 earnings per share for the quarter, beating analysts’ consensus estimates of $1.22 by $0.11. The business had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.17 billion. Heico had a return on equity of 16.80% and a net margin of 15.39%.Heico’s quarterly revenue was up 19.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.99 earnings per share. Sell-side analysts predict that Heico will post 4.2 earnings per share for the current year.

Heico Dividend Announcement

The business also recently declared a dividend, which will be paid on Tuesday, January 20th. Shareholders of record on Monday, January 5th will be paid a $0.12 dividend. This represents a yield of 8.0%. The ex-dividend date of this dividend is Monday, January 5th. Heico’s payout ratio is 4.89%.

Insider Activity

In other news, Director Julie Neitzel purchased 676 shares of the company’s stock in a transaction that occurred on Friday, October 10th. The shares were acquired at an average cost of $243.93 per share, with a total value of $164,896.68. Following the purchase, the director owned 676 shares in the company, valued at $164,896.68. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Mark H. Hildebrandt acquired 676 shares of Heico stock in a transaction on Friday, October 10th. The stock was purchased at an average cost of $243.93 per share, with a total value of $164,896.68. Following the purchase, the director directly owned 49,423 shares of the company’s stock, valued at approximately $12,055,752.39. This trade represents a 1.39% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last ninety days, insiders have acquired 4,448 shares of company stock valued at $1,086,933. Corporate insiders own 9.55% of the company’s stock.

Institutional Trading of Heico

Several hedge funds have recently bought and sold shares of HEI. Westside Investment Management Inc. lifted its stake in shares of Heico by 100.0% in the third quarter. Westside Investment Management Inc. now owns 86 shares of the aerospace company’s stock valued at $28,000 after buying an additional 43 shares in the last quarter. Greykasell Wealth Strategies Inc. bought a new position in Heico in the 3rd quarter valued at about $29,000. Hazlett Burt & Watson Inc. acquired a new position in Heico during the 3rd quarter valued at about $31,000. Ridgewood Investments LLC boosted its stake in Heico by 36.5% during the 2nd quarter. Ridgewood Investments LLC now owns 131 shares of the aerospace company’s stock valued at $43,000 after purchasing an additional 35 shares during the last quarter. Finally, Andra AP fonden purchased a new stake in shares of Heico in the second quarter worth approximately $66,000. Institutional investors and hedge funds own 27.12% of the company’s stock.

About Heico

HEICO Corporation is an aerospace, defense and electronics company that designs, manufactures, and sells a range of products and provides repair and aftermarket services. Headquartered in Hollywood, Florida, HEICO supplies replacement components, repair services and engineered systems for commercial and business aviation, military and space markets as well as for selected industrial and medical customers. The company’s offerings are focused on sustaining and improving the reliability and availability of complex equipment across its end markets.

HEICO operates through two principal business areas.