Embraer (NYSE:ERJ) Given Buy Rating at Bank of America

Bank of America restated their buy rating on shares of Embraer (NYSE:ERJ) in a report released on Tuesday, Benzinga reports. They currently have a $40.00 target price on the aerospace company’s stock.

A number of other research analysts have also recently commented on ERJ. StockNews.com cut Embraer from a buy rating to a hold rating in a research note on Tuesday, July 23rd. TD Cowen upgraded Embraer from a hold rating to a buy rating and boosted their price target for the stock from $26.00 to $41.00 in a research note on Wednesday, September 4th. Finally, UBS Group upped their price objective on Embraer from $28.50 to $29.00 and gave the company a neutral rating in a research note on Wednesday, July 3rd. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, Embraer has a consensus rating of Moderate Buy and a consensus target price of $32.50.

Embraer Stock Performance

Embraer stock opened at $35.14 on Tuesday. 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 stock has a fifty day moving average of $31.50 and a two-hundred day moving average of $28.12. The company has a market capitalization of $6.45 billion, a price-to-earnings ratio of 24.40 and a beta of 1.69. Embraer has a fifty-two week low of $12.48 and a fifty-two week high of $37.26.

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

Hedge Funds Weigh In On Embraer

Several hedge funds have recently bought and sold shares of ERJ. PNC Financial Services Group Inc. acquired a new position in Embraer during the fourth quarter worth $30,000. Sunbelt Securities Inc. acquired a new position in Embraer during the second quarter worth $41,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Embraer during the second quarter worth $44,000. Ashton Thomas Private Wealth LLC acquired a new position in Embraer during the second quarter worth $55,000. Finally, Northwestern Mutual Wealth Management Co. increased its position in Embraer by 25.0% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,280 shares of the aerospace company’s stock worth $59,000 after buying an additional 456 shares during the last quarter. 34.65% of the stock is owned by institutional investors and hedge funds.

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.