Heico Corp (NYSE:HEI) – Analysts at SunTrust Banks reduced their FY2017 earnings per share estimates for Heico in a report released on Monday, according to Zacks Investment Research. SunTrust Banks analyst M. Ciarmoli now expects that the aerospace company will post earnings per share of $2.10 for the year, down from their previous estimate of $2.14. SunTrust Banks has a “Buy” rating and a $96.00 price objective on the stock. SunTrust Banks also issued estimates for Heico’s Q4 2017 earnings at $0.57 EPS.
A number of other equities analysts have also recently issued reports on HEI. BidaskClub cut shares of Heico from a “strong-buy” rating to a “buy” rating in a report on Friday, August 18th. Canaccord Genuity raised their target price on shares of Heico from $91.00 to $92.00 and gave the stock a “buy” rating in a report on Wednesday, August 23rd. Zacks Investment Research cut shares of Heico from a “buy” rating to a “hold” rating in a report on Wednesday, August 23rd. Jefferies Group reissued a “hold” rating and issued a $89.00 target price (up previously from $75.00) on shares of Heico in a report on Thursday, August 24th. Finally, Bank of America raised shares of Heico from a “neutral” rating to a “buy” rating and raised their target price for the stock from $75.00 to $95.00 in a report on Tuesday, August 29th. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $92.78.
Heico (HEI) opened at $96.13 on Wednesday. The company has a quick ratio of 1.39, a current ratio of 2.89 and a debt-to-equity ratio of 0.36. Heico has a twelve month low of $60.00 and a twelve month high of $96.57. The stock has a market cap of $7,752.97, a PE ratio of 45.27, a price-to-earnings-growth ratio of 4.16 and a beta of 0.73.
In other Heico news, Director Mark H. Hildebrandt purchased 1,316 shares of the business’s stock in a transaction dated Thursday, October 5th. The shares were bought at an average price of $76.13 per share, with a total value of $100,187.08. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Thomas S. Irwin sold 20,000 shares of Heico stock in a transaction that occurred on Thursday, September 21st. The shares were sold at an average price of $76.28, for a total value of $1,525,600.00. Following the sale, the vice president now directly owns 31,110 shares in the company, valued at approximately $2,373,070.80. The disclosure for this sale can be found here. Insiders own 9.76% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Suntrust Banks Inc. raised its holdings in shares of Heico by 1.5% during the second quarter. Suntrust Banks Inc. now owns 12,918 shares of the aerospace company’s stock valued at $927,000 after buying an additional 194 shares during the last quarter. D.A. Davidson & CO. raised its holdings in shares of Heico by 24.7% during the second quarter. D.A. Davidson & CO. now owns 2,536 shares of the aerospace company’s stock valued at $182,000 after buying an additional 502 shares during the last quarter. Virtu KCG Holdings LLC raised its holdings in shares of Heico by 24.0% during the second quarter. Virtu KCG Holdings LLC now owns 3,302 shares of the aerospace company’s stock valued at $237,000 after buying an additional 639 shares during the last quarter. Fortaleza Asset Management Inc. increased its stake in shares of Heico by 25.0% during the second quarter. Fortaleza Asset Management Inc. now owns 3,287 shares of the aerospace company’s stock valued at $236,000 after acquiring an additional 657 shares during the period. Finally, 1st Global Advisors Inc. increased its stake in shares of Heico by 24.8% during the second quarter. 1st Global Advisors Inc. now owns 3,383 shares of the aerospace company’s stock valued at $243,000 after acquiring an additional 672 shares during the period. 26.98% of the stock is currently owned by institutional investors.
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HEICO Corporation manufactures Federal Aviation Administration (FAA)-approved jet engine and aircraft component replacement parts, other than the original equipment manufacturers (OEMs) and their subcontractors. The Company also manufactures various types of electronic equipment for the aviation, medical, telecommunications and electronics industries.
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