Embraer (NYSE:ERJ) Lifted to Buy at TD Cowen

TD Cowen upgraded shares of Embraer (NYSE:ERJ) from a hold rating to a buy rating in a research note issued to investors on Wednesday, Marketbeat.com reports. They currently have $41.00 price objective on the aerospace company’s stock, up from their prior price objective of $26.00.

A number of other brokerages have also weighed in on ERJ. UBS Group boosted their price objective on shares of Embraer from $28.50 to $29.00 and gave the stock a neutral rating in a report on Wednesday, July 3rd. StockNews.com lowered shares of Embraer from a buy rating to a hold rating in a report on Tuesday, July 23rd. Finally, Bank of America boosted their price objective on shares of Embraer from $28.00 to $40.00 and gave the stock a buy rating in a report on Thursday, August 22nd. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of Moderate Buy and an average price target of $32.50.

Embraer Trading Down 5.7 %

Shares of Embraer stock opened at $33.79 on Wednesday. Embraer has a 1 year low of $12.48 and a 1 year high of $36.02. The firm has a market cap of $6.21 billion, a PE ratio of 23.47 and a beta of 1.69. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.50 and a quick ratio of 0.66. The company has a 50 day simple moving average of $30.43 and a two-hundred day simple moving average of $27.36.

Embraer (NYSE:ERJ) last announced its earnings results on Thursday, August 8th. The aerospace company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.20. Embraer had a net margin of 6.76% and a return on equity of 5.94%. The business had revenue of $1.49 billion during the quarter, compared to analyst estimates of $1.44 billion. During the same period in the previous year, the business posted $0.32 earnings per share. Embraer’s revenue for the quarter was up 15.6% on a year-over-year basis. Analysts expect that Embraer will post 1.37 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Capital Wealth Planning LLC purchased a new position in Embraer during the 4th quarter valued at $919,000. SteelPeak Wealth LLC purchased a new stake in shares of Embraer in the 2nd quarter worth about $443,000. SG Americas Securities LLC purchased a new stake in shares of Embraer in the 2nd quarter worth about $2,458,000. Atria Investments Inc purchased a new stake in shares of Embraer in the 1st quarter worth about $1,671,000. Finally, Blue Trust Inc. grew its position in shares of Embraer by 35.7% in the 2nd quarter. Blue Trust Inc. now owns 11,758 shares of the aerospace company’s stock worth $313,000 after buying an additional 3,091 shares during the period. 34.65% of the stock is owned by hedge funds and other institutional investors.

About Embraer

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.