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

Wall Street Zen downgraded shares of Heico (NYSE:HEI) from a buy rating to a hold rating in a research report released on Saturday.

Several other research firms also recently issued reports on HEI. Susquehanna lifted their price objective on Heico from $321.00 to $365.00 and gave the stock a “neutral” rating in a report on Friday, May 29th. Truist Financial raised shares of Heico to a “strong-buy” rating in a research report on Friday, May 1st. Weiss Ratings raised shares of Heico from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, July 16th. Royal Bank Of Canada raised their price objective on shares of Heico from $375.00 to $390.00 and gave the stock an “outperform” rating in a report on Friday, May 29th. Finally, Citigroup reissued a “buy” rating and issued a $410.00 target price (up from $403.00) on shares of Heico in a research report on Wednesday, July 1st. Three investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, Heico presently has a consensus rating of “Moderate Buy” and a consensus price target of $374.56.

Heico Stock Up 0.8%

Shares of Heico stock opened at $357.08 on Friday. Heico has a 1-year low of $256.11 and a 1-year high of $369.48. The company has a market capitalization of $49.87 billion, a PE ratio of 63.76, a P/E/G ratio of 3.69 and a beta of 1.03. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.92 and a quick ratio of 1.36. The business has a 50-day moving average of $341.60 and a 200-day moving average of $318.64.

Heico (NYSE:HEI) last released its quarterly earnings results on Wednesday, May 27th. The aerospace company reported $1.66 EPS for the quarter, topping the consensus estimate of $1.33 by $0.33. The business had revenue of $1.38 billion for the quarter, compared to analysts’ expectations of $1.25 billion. Heico had a return on equity of 17.52% and a net margin of 16.08%.The company’s revenue was up 25.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.12 earnings per share. As a group, equities analysts forecast that Heico will post 5.95 EPS for the current fiscal year.

Heico Dividend Announcement

The firm also recently announced a dividend, which was paid on Wednesday, July 15th. Shareholders of record on Wednesday, July 1st were issued a dividend of $0.13 per share. This represents a dividend yield of 7.0%. The ex-dividend date of this dividend was Wednesday, July 1st. Heico’s dividend payout ratio is 4.64%.

Insider Activity

In other news, CAO Bradley K. Rowen sold 1,326 shares of the firm’s stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $241.63, for a total value of $320,401.38. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 4.86% of the company’s stock.

Hedge Funds Weigh In On Heico

Several hedge funds and other institutional investors have recently modified their holdings of the company. IFC & Insurance Marketing Inc. acquired a new position in shares of Heico during the fourth quarter worth approximately $26,000. CBIZ Investment Advisory Services LLC increased its position in shares of Heico by 1,000.0% in the fourth quarter. CBIZ Investment Advisory Services LLC now owns 88 shares of the aerospace company’s stock worth $28,000 after acquiring an additional 80 shares in the last quarter. Birchwood Financial Partners Inc. purchased a new position in shares of Heico during the fourth quarter valued at $32,000. V Square Quantitative Management LLC acquired a new stake in shares of Heico during the fourth quarter worth approximately $37,000. Finally, FNY Investment Advisers LLC increased its stake in Heico by 862.5% in the 4th quarter. FNY Investment Advisers LLC now owns 154 shares of the aerospace company’s stock valued at $49,000 after buying an additional 138 shares during the period. Institutional investors and hedge funds own 27.12% of the company’s stock.

Heico Company Profile

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.