Bank of America Reaffirms Buy Rating for Embraer (NYSE:ERJ)

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

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

Embraer Stock Performance

Shares of ERJ opened at $34.77 on Tuesday. Embraer has a one year low of $12.48 and a one year high of $37.26. The company has a 50-day simple moving average of $31.73 and a two-hundred day simple moving average of $28.27. 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 has a market capitalization of $6.39 billion, a PE ratio of 24.13 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 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.20. The company had revenue of $1.49 billion for the quarter, compared to analyst estimates of $1.44 billion. Embraer had a return on equity of 5.94% and a net margin of 6.76%. The firm’s revenue was up 15.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.32 earnings per share. On average, analysts anticipate that Embraer will post 1.49 EPS for the current fiscal year.

Hedge Funds Weigh In On Embraer

A number of hedge funds have recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. bought a new stake in shares of Embraer in the 4th quarter worth $30,000. Sunbelt Securities Inc. bought a new stake in Embraer in the 2nd quarter worth about $41,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Embraer in the 2nd quarter worth about $44,000. Ashton Thomas Private Wealth LLC bought a new position in Embraer during the 2nd quarter valued at about $55,000. Finally, Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Embraer by 25.0% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,280 shares of the aerospace company’s stock valued at $59,000 after acquiring an additional 456 shares during the last quarter. 34.65% of the stock is currently 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.