Heico Corp (HEI) is Downgraded by KeyBanc Capital Mkts to Sector Weight

Heico Corp (HEI) was Downgraded by KeyBanc Capital Mkts to ” Sector Weight”. Earlier the firm had a rating of “Overweight ” on the company shares. KeyBanc Capital Mkts advised their investors in a research report released 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 closed down -0.85 points or -1.15% at $73.37 with 1,54,481 shares getting traded on Tuesday. Post opening the session at $74.5, the shares hit an intraday low of $73.355 and an intraday high of $74.659 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

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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