SunTrust Banks Raises Heico (HEI) Price Target to $96.00

Heico (NYSE:HEI) had its price objective lifted by SunTrust Banks to $96.00 in a research note published on Monday morning, The Fly reports. The firm currently has a buy rating on the aerospace company’s stock. SunTrust Banks also issued estimates for Heico’s Q4 2017 earnings at $0.57 EPS, FY2017 earnings at $2.10 EPS, FY2018 earnings at $2.50 EPS and FY2019 earnings at $2.76 EPS.

A number of other research analysts have also recently commented on the company. Zacks Investment Research cut Heico from a buy rating to a hold rating in a research note on Tuesday, October 31st. Canaccord Genuity upped their target price on Heico from $92.00 to $95.00 and gave the company a buy rating in a research note on Tuesday, October 24th. Seaport Global Securities initiated coverage on Heico in a research note on Tuesday, September 12th. They set a neutral rating and a $90.00 target price on the stock. Finally, Credit Suisse Group reissued an outperform rating and issued a $98.00 price objective (up previously from $85.00) on shares of Heico in a research note on Tuesday, August 29th. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Heico presently has an average rating of Buy and a consensus price target of $92.78.

Heico (NYSE HEI) opened at $89.01 on Monday. The company has a market capitalization of $7,503.83, a P/E ratio of 43.81, 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 debt-to-equity ratio of 0.36, a quick ratio of 1.39 and a current ratio of 2.89.

In other news, VP Thomas S. Irwin sold 20,000 shares of the 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 completion of the sale, the vice president now owns 31,110 shares in the company, valued at approximately $2,373,070.80. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Mark H. Hildebrandt acquired 1,316 shares of the firm’s stock in a transaction dated Thursday, October 5th. The shares were acquired at an average price of $76.13 per share, with a total value of $100,187.08. The disclosure for this purchase can be found here. 9.76% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently modified their holdings of the company. D.A. Davidson & CO. lifted its holdings in shares of Heico by 24.7% during the 2nd quarter. D.A. Davidson & CO. now owns 2,536 shares of the aerospace company’s stock valued at $182,000 after purchasing an additional 502 shares during the last quarter. Ironwood Investment Counsel LLC purchased a new stake in shares of Heico during the 3rd quarter valued at $201,000. RKL Wealth Management LLC purchased a new stake in shares of Heico during the 3rd quarter valued at $201,000. Comerica Bank purchased a new stake in shares of Heico during the 2nd quarter valued at $209,000. Finally, Fortaleza Asset Management Inc. lifted its holdings in shares of Heico by 25.0% during the 2nd quarter. Fortaleza Asset Management Inc. now owns 3,287 shares of the aerospace company’s stock valued at $236,000 after purchasing an additional 657 shares during the last quarter. Hedge funds and other 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.

The Fly

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