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

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

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

Embraer Price Performance

Shares of Embraer stock traded down $0.30 during trading on Tuesday, hitting $35.13. 759,911 shares of the company’s stock traded hands, compared to its average volume of 1,684,454. 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 firm’s fifty day moving average price is $31.50 and its 200 day moving average price is $28.12. Embraer has a twelve month low of $12.48 and a twelve month high of $37.26. The company has a market cap of $6.45 billion, a PE ratio of 24.44 and a beta of 1.69.

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

Hedge Funds Weigh In On Embraer

A number of hedge funds have recently bought and sold shares of ERJ. BNP Paribas Financial Markets increased its position in Embraer by 40.2% during the fourth quarter. BNP Paribas Financial Markets now owns 147,185 shares of the aerospace company’s stock worth $2,716,000 after acquiring an additional 42,190 shares during the period. Vanguard Personalized Indexing Management LLC grew its stake in Embraer by 6.5% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 17,525 shares of the aerospace company’s stock worth $323,000 after buying an additional 1,070 shares in the last quarter. Wells Fargo & Company MN boosted its stake in shares of Embraer by 2.2% in the 4th quarter. Wells Fargo & Company MN now owns 465,345 shares of the aerospace company’s stock valued at $8,586,000 after purchasing an additional 9,809 shares in the last quarter. Trexquant Investment LP acquired a new stake in shares of Embraer in the 4th quarter valued at approximately $1,383,000. Finally, Team Hewins LLC acquired a new stake in shares of Embraer in the 4th quarter valued at approximately $592,000. 34.65% of the stock is owned by 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.