HEICO (HEI) is Upgraded by BofA/Merrill to Buy

HEICO (HEI) is Upgraded by BofA/Merrill to Buy , according to the research report released to the investors. Earlier the firm had a rating of Underperform on the company shares. The shares recommendation by the Brokerage Firm was released on Dec-22-2015.

Shares of Heico Corporation (NYSE:HEI) ended Thursday session in red amid volatile trading. The shares closed down 0.59 points or 1.17% at $49.69 with 217,118 shares getting traded. Post opening the session at $50.36, the shares hit an intraday low of $49.53 and an intraday high of $50.36 and the price vacillated in this range throughout the day. The company has a market cap of $3,321 million and the number of outstanding shares has been calculated to be 66,834,748 shares. The 52-week high of Heico Corporation (NYSE:HEI) is $63.73 and the 52-week low is $47.239.

Analysts at Zacks have given a short term rating of sell on Heico Corporation (NYSE:HEI) with a rank of 4. The shares has received an average rating of 1.86 from 7 brokerage firms. 4 analysts have rated the company as a strong buy. The shares has been rated as hold from 1 Wall Street Analysts. 1 analysts have suggested buying the shares. A sell call was given by 1 analyst.

Heico Corporation (NYSE:HEI): The stock price is expected to reach $ 60 in the short term. The number of analysts agreeing with this consensus is 6. The higher estimate for the short term price target is at $70 while the lower estimate is at $55. The standard deviation of the price stands at $5.83.

HEICO Corporation has lost 1.11% in the last five trading days and dropped 1.33% in the last 4 weeks. HEICO Corporation has dropped 1.47% during the last 3-month period . Year-to-Date the stock performance stands at -17.63%.

HEICO Corporation (HEICO), through its subsidiaries, is the manufacturer of Federal Aviation Administration (FAA)-approved jet engine and aircraft component replacement parts, other than the original equipment manufacturers (OEMs) and their subcontractors. HEICO is also a manufacturer of various types of electronic equipment for the aviation, defense, space, industrial, medical, telecommunication and electronic industries. The Company operates in two segments: The Flight Support Group (FSG) and the Electronic Technologies Group (ETG). In October 2013, HEICO Corporation announced that its Electronic Technologies Group completed its planned acquisition of Lucix Corporation. In June 2014, Seal Dynamics LLC, a subsidiary of its Flight Support Group, acquired certain assets of Quest Aviation Supply of Chatsworth, California.