Embraer’s (ERJ) “Buy” Rating Reaffirmed at Bank of America

Embraer (NYSE:ERJ)‘s stock had its “buy” rating restated by research analysts at Bank of America in a note issued to investors on Tuesday, Benzinga reports. They currently have a $40.00 target price on the aerospace company’s stock. Bank of America‘s target price suggests a potential upside of 13.86% from the stock’s current price.

A number of other analysts have also recently weighed in on ERJ. StockNews.com cut shares of Embraer from a “buy” rating to a “hold” rating in a research report on Tuesday, July 23rd. UBS Group upped their price target on shares of Embraer from $28.50 to $29.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 3rd. Finally, TD Cowen raised shares of Embraer from a “hold” rating to a “buy” rating and upped their price target for the stock from $26.00 to $41.00 in a research report on Wednesday, September 4th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $32.50.

Embraer Price Performance

ERJ stock traded down $0.30 on Tuesday, reaching $35.13. The company had a trading volume of 759,911 shares, compared to its average volume of 1,684,454. The company’s fifty day moving average is $31.50 and its 200 day moving average is $28.12. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.66 and a current ratio of 1.50. The company has a market cap of $6.45 billion, a P/E ratio of 24.44 and a beta of 1.69. Embraer has a 1 year low of $12.48 and a 1 year high of $37.26.

Embraer (NYSE:ERJ) last issued its quarterly earnings results on Thursday, August 8th. The aerospace company reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.20. The company had revenue of $1.49 billion during the quarter, compared to the consensus estimate of $1.44 billion. Embraer had a return on equity of 5.94% and a net margin of 6.76%. Embraer’s revenue was up 15.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.32 EPS. On average, research analysts forecast that Embraer will post 1.49 earnings per share for the current year.

Institutional Investors Weigh In On Embraer

Several large investors have recently made changes to their positions in ERJ. PNC Financial Services Group Inc. acquired a new position in shares of Embraer during the fourth quarter valued at approximately $30,000. Sunbelt Securities Inc. purchased a new stake in Embraer in the 2nd quarter worth approximately $41,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Embraer during the 2nd quarter valued at $44,000. Ashton Thomas Private Wealth LLC bought a new position in Embraer in the 2nd quarter worth $55,000. Finally, Northwestern Mutual Wealth Management Co. raised its holdings in Embraer by 25.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,280 shares of the aerospace company’s stock worth $59,000 after acquiring an additional 456 shares during the period. Institutional investors and hedge funds own 34.65% of the company’s stock.

Embraer Company Profile

Embraer SA designs, develops, manufactures, and sells aircraft and systems in North America, Latin America, the Asia Pacific, Brazil, Europe, and internationally. The company operates through Commercial Aviation; Defense & Security; Executive Aviation; Services & Support; and Other segments. The Commercial Aviation segment designs, develops, manufactures, and sells commercial jets, as well as leases aircraft.