Heroux Devtek (TSE:HRX) Lowered to Market Perform at Raymond James

Raymond James lowered shares of Heroux Devtek (TSE:HRX) from an outperform rating to a market perform rating in a report published on Monday morning, BayStreet.CA reports. The brokerage currently has C$21.00 target price on the stock, up from their prior target price of C$19.50.

HRX has been the topic of several other reports. Laurentian decreased their price objective on shares of Heroux Devtek from C$18.50 to C$13.00 in a research report on Monday. Royal Bank of Canada upped their price objective on shares of Heroux Devtek from C$21.00 to C$24.00 and gave the stock an outperform rating in a research report on Monday. National Bank Financial upped their price objective on shares of Heroux Devtek from C$20.00 to C$23.00 and gave the stock an outperform rating in a research report on Monday. TD Securities upped their price objective on shares of Heroux Devtek from C$22.00 to C$23.00 and gave the stock a buy rating in a research report on Monday. Finally, Desjardins upped their price objective on shares of Heroux Devtek from C$23.00 to C$24.00 in a research report on Monday. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Heroux Devtek has an average rating of Buy and a consensus price target of C$21.33.

Shares of Heroux Devtek stock opened at C$17.80 on Monday. Heroux Devtek has a 12-month low of C$11.05 and a 12-month high of C$20.30. The company has a market cap of $710.88 million and a price-to-earnings ratio of 24.45. The company has a current ratio of 1.95, a quick ratio of 0.93 and a debt-to-equity ratio of 64.42. The company’s 50-day moving average price is C$19.47 and its 200-day moving average price is C$16.89.

Heroux Devtek (TSE:HRX) last announced its quarterly earnings results on Thursday, May 23rd. The company reported C$0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$0.23 by C$0.13. The firm had revenue of C$157.91 million during the quarter, compared to analysts’ expectations of C$146.50 million. On average, sell-side analysts predict that Heroux Devtek will post 1.1799999 earnings per share for the current year.

In related news, Senior Officer Jean Gravel sold 3,300 shares of the company’s stock in a transaction that occurred on Friday, May 31st. The shares were sold at an average price of C$16.86, for a total value of C$55,638.00. Following the transaction, the insider now directly owns 42,921 shares in the company, valued at C$723,648.06.

About Heroux Devtek

Héroux-Devtek Inc engages in the design, development, manufacture, integration, testing, and repair and overhaul of aircraft landing gears, hydraulic flight control actuators, and fracture-critical components in Canada, the United States, and the United Kingdom. The company also manufactures and sells hydraulic systems, fluid filtration systems, electronic enclosures, heat exchangers, and cabinets for suppliers of airborne radar, electro-optic systems, and aircraft controls.

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Analyst Recommendations for Heroux Devtek (TSE:HRX)

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