Heroux-Devtek Gets a Buy Rating from RBC Capital

By Jason Carr

Heroux-Devtek (TSX: HRX), the Consumer Goods sector company, was revisited by a Wall Street analyst today. The company received a Buy rating from RBC Capital’s analyst Derek Spronck, with a C$17 price target.

According to TipRanks.com, Spronck is ranked #226 out of 4574 analysts.

Heroux-Devtek has an analyst consensus of Moderate Buy, with a price target consensus of C$15.25.

Based on Heroux-Devtek’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of C$121 million and quarterly net profit of C$8.9 million. In comparison, last year the company earned revenue of C$117 million and had a net profit of C$9.09 million.

Héroux-Devtek, Inc. engages in the design, development, manufacturing and overhaul of landing gear systems and components. Its aerospace supplies both the commercial and military sectors with landing gear, including spare parts, repair and overhaul services and airframe structural components, including kits. The company was founded on March 17, 1942 and is headquartered in Longueuil, Canada.

The company’s shares closed last Thursday at $14.10.