Heico (HEI) Upgraded to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Heico (NYSE:HEI) from a hold rating to a buy rating in a report issued on Tuesday. Zacks Investment Research currently has $99.00 price target on the aerospace company’s stock.

According to Zacks, “Heico Corporation is engaged primarily in certain niche segments of the aviation, defense, space and electronics industries through its Hollywood, FL-based HEICO Aerospace Holdings Corp. subsidiary and its Miami, FL-based HEICO Electronic Technologies Corp. subsidiary. HEICO’s customers include a majority of the world’s airlines and airmotives as well as numerous defense and space contractors and military agencies worldwide in addition to telecommunications, electronics and medical equipment manufacturers. “

Other research analysts also recently issued research reports about the stock. Canaccord Genuity reaffirmed a buy rating and issued a $91.00 price target (up previously from $80.00) on shares of Heico in a research note on Thursday, August 10th. SunTrust Banks increased their target price on shares of Heico to $96.00 and gave the stock a buy rating in a report on Monday. BidaskClub cut shares of Heico from a strong-buy rating to a buy rating in a report on Friday, August 18th. Bank of America upgraded shares of Heico from a neutral rating to a buy rating and increased their target price for the stock from $75.00 to $95.00 in a report on Tuesday, August 29th. Finally, Jefferies Group reiterated a hold rating and set a $89.00 target price (up from $75.00) on shares of Heico in a report on Thursday, August 24th. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Heico has an average rating of Buy and an average price target of $92.78.

Heico (HEI) traded up $0.06 during mid-day trading on Tuesday, reaching $88.85. 339,200 shares of the company traded hands, compared to its average volume of 184,265. The stock has a market cap of $7,498.76, a P/E ratio of 43.78, a PEG ratio of 4.03 and a beta of 0.73. Heico has a 52 week low of $59.94 and a 52 week high of $93.00. The company has a quick ratio of 1.39, a current ratio of 2.89 and a debt-to-equity ratio of 0.36.

In other news, VP Thomas S. Irwin sold 20,000 shares of the firm’s stock in a transaction dated 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Mark H. Hildebrandt purchased 1,316 shares of the stock in a transaction dated Thursday, October 5th. The stock was purchased at an average price of $76.13 per share, for a total transaction of $100,187.08. The disclosure for this purchase can be found here. 9.76% of the stock is currently owned by company insiders.

Hedge funds have recently added to or reduced their stakes in the stock. Ironwood Investment Counsel LLC acquired a new stake in Heico in the 3rd quarter worth approximately $201,000. RKL Wealth Management LLC acquired a new stake in Heico in the 3rd quarter worth approximately $201,000. D.A. Davidson & CO. boosted its stake in Heico by 24.7% in the 2nd quarter. D.A. Davidson & CO. now owns 2,536 shares of the aerospace company’s stock worth $182,000 after purchasing an additional 502 shares in the last quarter. Comerica Bank acquired a new stake in Heico in the 2nd quarter worth approximately $209,000. Finally, PEAK6 Investments L.P. acquired a new stake in Heico in the 3rd quarter worth approximately $289,000. Institutional investors own 26.97% of the company’s stock.

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Heico Company Profile

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.

Analyst Recommendations for Heico (NYSE:HEI)

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