SunTrust Banks Comments on Heico Corporation’s FY2018 Earnings (HEI)

Heico Corporation (NYSE:HEI) – Investment analysts at SunTrust Banks increased their FY2018 earnings per share (EPS) estimates for Heico in a research note issued on Monday. SunTrust Banks analyst M. Ciarmoli now anticipates that the aerospace company will post earnings of $2.50 per share for the year, up from their prior forecast of $2.37. SunTrust Banks currently has a “Buy” rating and a $96.00 target price on the stock. SunTrust Banks also issued estimates for Heico’s FY2019 earnings at $2.76 EPS.

HEI has been the subject of a number of other reports. Credit Suisse Group reissued an “outperform” rating and issued a $98.00 price target (up from $85.00) on shares of Heico in a research note on Tuesday, August 29th. Zacks Investment Research raised shares of Heico from a “hold” rating to a “buy” rating and set a $94.00 price target for the company in a research note on Tuesday, August 29th. Bank of America raised shares of Heico from a “neutral” rating to a “buy” rating and increased their price target for the stock from $75.00 to $95.00 in a research note on Tuesday, August 29th. Canaccord Genuity raised their target price on shares of Heico from $92.00 to $95.00 and gave the company a “buy” rating in a research note on Tuesday, October 24th. Finally, Jefferies Group reaffirmed a “hold” rating and set a $89.00 target price (up previously from $75.00) on shares of Heico in a research note on Thursday, August 24th. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $92.78.

Heico (NYSE HEI) traded up $0.64 during mid-day trading on Tuesday, reaching $89.65. 156,108 shares of the company were exchanged, compared to its average volume of 184,149. Heico has a 12 month low of $59.94 and a 12 month high of $93.00. The company has a market capitalization of $7,503.83, a P/E ratio of 43.81, a P/E/G ratio of 4.03 and a beta of 0.73. The company has a current ratio of 2.89, a quick ratio of 1.39 and a debt-to-equity ratio of 0.36.

In other Heico news, Director Mark H. Hildebrandt purchased 1,316 shares of the company’s stock in a transaction dated Thursday, October 5th. The shares were acquired at an average price of $76.13 per share, for a total transaction of $100,187.08. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Thomas S. Irwin sold 20,000 shares of Heico stock in a transaction on Thursday, September 21st. The stock was sold at an average price of $76.28, for a total transaction of $1,525,600.00. Following the transaction, the vice president now owns 31,110 shares in the company, valued at approximately $2,373,070.80. The disclosure for this sale can be found here. Company insiders own 9.76% of the company’s stock.

Institutional investors have recently modified their holdings of the company. First Trust Advisors LP raised its position in shares of Heico by 42.7% during the 2nd quarter. First Trust Advisors LP now owns 419,333 shares of the aerospace company’s stock valued at $30,125,000 after purchasing an additional 125,544 shares during the period. Artemis Investment Management LLP bought a new stake in Heico in the 2nd quarter valued at $7,379,000. Artisan Partners Limited Partnership increased its holdings in Heico by 54.9% in the 2nd quarter. Artisan Partners Limited Partnership now owns 283,149 shares of the aerospace company’s stock valued at $20,341,000 after acquiring an additional 100,315 shares during the last quarter. Fred Alger Management Inc. increased its holdings in Heico by 23.7% in the 2nd quarter. Fred Alger Management Inc. now owns 380,992 shares of the aerospace company’s stock valued at $27,370,000 after acquiring an additional 72,901 shares during the last quarter. Finally, Tygh Capital Management Inc. increased its holdings in Heico by 72.8% in the 2nd quarter. Tygh Capital Management Inc. now owns 110,793 shares of the aerospace company’s stock valued at $7,959,000 after acquiring an additional 46,665 shares during the last quarter. Institutional investors and hedge funds 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.

Earnings History and Estimates for Heico (NYSE:HEI)

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