Heico Corp (HEI) is Downgraded by BofA/Merrill to Neutral

Heico Corp (HEI) was Downgraded by BofA/Merrill to ” Neutral”. Earlier the firm had a rating of “Buy ” on the company shares. BofA/Merrill advised their investors in a research report released on Aug 30, 2016.

Many Wall Street Analysts have commented on Heico Corp. Heico Corp was Downgraded by KeyBanc Capital Mkts to ” Sector Weight” on Aug 26, 2016.

On the company’s financial health, Heico Corp reported $0.62 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Aug 24, 2016. Analyst had a consensus of $0.59. The company had revenue of $356.10 million for the quarter, compared to analysts expectations of $356.35 million. The company’s revenue was up 18.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.51 EPS.

Heico Corp opened for trading at $69 and hit $69.57 on the upside on Monday, eventually ending the session at $69.09, with a gain of 0.03% or 0.02 points. The heightened volatility saw the trading volume jump to 2,42,337 shares. Company has a market cap of $4,633 M.

In a different news, on Apr 8, 2016, Thomas S Irwin (Sr Exec VP) sold 15,000 shares at $58.62 per share price. According to the SEC, on Mar 28, 2016, Alan Schriesheim (director) sold 3,000 shares at $59.35 per share price. On Mar 22, 2016, Frank J Schwitter (director) sold 1,325 shares at $60.01 per share price, according to the Form-4 filing with the securities and exchange commission.

HEICO Corporation is an aerospace and electronics company. The Company provides commercial aircraft replacement parts aircraft accessories component repair and overhaul services for avionic electro-mechanical flight surface hydraulic and pneumatic applications; distributes aircraft parts and manufactures other critical aircraft parts. It operates through two operating segments: the Flight Support Group (FSG) and the Electronic Technologies Group (ETG). The Flight Support Group designs manufactures repairs overhauls and distributes jet engine and aircraft component replacement parts. Its Electronic Technologies Group designs and manufactures electronic electro-optical microwave and other components found in aviation broadcast defense homeland security medical space telecom and other complex equipment. Its customers include airlines overhaul shops satellite manufacturers commercial and defense equipment producers and telecommunications equipment suppliers.

Heico Corp

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