FBR Capital Downgrades HEICO (HEI) to Market Perform; Target Valuation Reached
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Price: $363.42 -1.25%
Rating Summary:
21 Buy, 12 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 9 | New: 16
Rating Summary:
21 Buy, 12 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 9 | New: 16
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FBR Capital downgraded HEICO (NYSE: HEI) from Outperform to Market Perform. PT $63.
FBR analyst says, "HEICO's shares are up 20% since our upgrade on January 21, 2011 as compared to the commercial aerospace group being up 4.2% and the S&P 500 up 3.2%. Driving the performance over the past three months has been a continued improvement in airline traffic and capacity statistics and better-than-expected 1Q11 results. However, given the now more elevated expectations, coupled with our thesis that OEM names are better positioned, on a relative basis, to deal with uncertainty as compared to the aftermarket names, we are lowering our rating on HEICO to MP. While we still think that FY11 consensus estimates are too low, we would also wait for a better entry point and would feel better aggressively building positions when the name is trading at or below 25x next year’s earnings, or $53 per share."
For more ratings news on HEICO click here and for the rating history of HEICO click here.
Shares of HEICO closed at $63.72 yesterday.
FBR analyst says, "HEICO's shares are up 20% since our upgrade on January 21, 2011 as compared to the commercial aerospace group being up 4.2% and the S&P 500 up 3.2%. Driving the performance over the past three months has been a continued improvement in airline traffic and capacity statistics and better-than-expected 1Q11 results. However, given the now more elevated expectations, coupled with our thesis that OEM names are better positioned, on a relative basis, to deal with uncertainty as compared to the aftermarket names, we are lowering our rating on HEICO to MP. While we still think that FY11 consensus estimates are too low, we would also wait for a better entry point and would feel better aggressively building positions when the name is trading at or below 25x next year’s earnings, or $53 per share."
For more ratings news on HEICO click here and for the rating history of HEICO click here.
Shares of HEICO closed at $63.72 yesterday.
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