Bank of America Forecasts Strong Price Appreciation for Embraer (NYSE:ERJ) Stock

Embraer (NYSE:ERJ) had its price objective raised by research analysts at Bank of America from $40.00 to $55.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the aerospace company’s stock. Bank of America‘s price objective would indicate a potential upside of 40.99% from the company’s previous close.

Other analysts have also issued research reports about the stock. TD Cowen raised shares of Embraer from a “hold” rating to a “buy” rating and lifted their target price for the stock from $26.00 to $41.00 in a report on Wednesday, September 4th. UBS Group lowered Embraer from a “neutral” rating to a “sell” rating and raised their price target for the stock from $29.00 to $32.00 in a research report on Tuesday. One analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, Embraer has an average rating of “Moderate Buy” and an average target price of $37.43.

Embraer Trading Up 0.5 %

Shares of NYSE ERJ opened at $39.01 on Thursday. Embraer has a 1 year low of $16.15 and a 1 year high of $39.46. The firm’s 50-day moving average is $35.36 and its 200-day moving average is $31.72. The company has a quick ratio of 0.76, a current ratio of 1.56 and a debt-to-equity ratio of 0.74.

Institutional Trading of Embraer

A number of large investors have recently made changes to their positions in ERJ. Sunbelt Securities Inc. acquired a new position in Embraer in the second quarter valued at about $41,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Embraer during the 2nd quarter worth approximately $44,000. Ashton Thomas Private Wealth LLC bought a new stake in Embraer during the 2nd quarter worth approximately $55,000. Northwestern Mutual Wealth Management Co. lifted its stake in Embraer by 25.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,280 shares of the aerospace company’s stock valued at $59,000 after buying an additional 456 shares in the last quarter. Finally, Asset Dedication LLC acquired a new position in shares of Embraer in the second quarter valued at approximately $71,000. Institutional investors 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.