Citigroup Cuts Heico (NYSE:HEI) Price Target to $323.00
by Doug Wharley · The Cerbat GemHeico (NYSE:HEI – Free Report) had its target price reduced by Citigroup from $400.00 to $323.00 in a research note released on Thursday,Benzinga reports. They currently have a buy rating on the aerospace company’s stock.
HEI has been the subject of a number of other research reports. UBS Group reaffirmed a “neutral” rating and set a $371.00 target price (up from $359.00) on shares of Heico in a report on Monday, December 22nd. Weiss Ratings reissued a “buy (b-)” rating on shares of Heico in a research note on Monday, December 29th. Truist Financial boosted their price target on shares of Heico from $366.00 to $391.00 and gave the stock a “buy” rating in a research report on Tuesday, December 23rd. Stifel Nicolaus set a $370.00 price objective on shares of Heico and gave the company a “buy” rating in a research note on Monday, December 22nd. Finally, Susquehanna initiated coverage on shares of Heico in a report on Friday, January 23rd. They issued a “neutral” rating and a $385.00 price objective for the company. Ten equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $358.71.
Read Our Latest Analysis on Heico
Heico Trading Down 0.0%
Shares of NYSE:HEI opened at $271.70 on Thursday. The company has a debt-to-equity ratio of 0.55, a current ratio of 3.06 and a quick ratio of 1.41. The firm has a market capitalization of $37.91 billion, a price-to-earnings ratio of 53.70, a price-to-earnings-growth ratio of 3.33 and a beta of 1.07. Heico has a 1 year low of $229.07 and a 1 year high of $361.69. The business’s 50 day moving average price is $311.53 and its 200-day moving average price is $318.45.
Heico (NYSE:HEI – Get Free Report) last announced its earnings results on Wednesday, February 25th. The aerospace company reported $1.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.26 by $0.09. The business had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.17 billion. Heico had a net margin of 15.38% and a return on equity of 16.57%. The company’s revenue for the quarter was up 14.4% compared to the same quarter last year. During the same quarter last year, the business earned $1.20 earnings per share. On average, equities research analysts forecast that Heico will post 4.2 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Several institutional investors have recently modified their holdings of HEI. Acadian Asset Management LLC grew its holdings in shares of Heico by 216.7% in the first quarter. Acadian Asset Management LLC now owns 1,381 shares of the aerospace company’s stock valued at $368,000 after purchasing an additional 945 shares during the period. CW Advisors LLC raised its stake in Heico by 648.3% during the second quarter. CW Advisors LLC now owns 29,646 shares of the aerospace company’s stock worth $9,724,000 after purchasing an additional 25,684 shares during the period. Qtron Investments LLC boosted its holdings in Heico by 31.4% in the 2nd quarter. Qtron Investments LLC now owns 4,064 shares of the aerospace company’s stock valued at $1,333,000 after purchasing an additional 972 shares during the last quarter. Capula Management Ltd acquired a new position in Heico in the 2nd quarter valued at about $623,000. Finally, Jump Financial LLC purchased a new stake in shares of Heico in the 2nd quarter valued at approximately $6,393,000. Hedge funds and other institutional investors own 27.12% of the company’s stock.
About Heico
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.