Embraer (NYSE:ERJ) Upgraded to “Buy” at TD Cowen

TD Cowen upgraded shares of Embraer (NYSE:ERJ) from a hold rating to a buy rating in a research report report published on Wednesday morning, Marketbeat.com reports. The brokerage currently has $41.00 target price on the aerospace company’s stock, up from their previous target price of $26.00.

Other equities research analysts also recently issued research reports about the stock. UBS Group increased their price objective on shares of Embraer from $28.50 to $29.00 and gave the stock a neutral rating in a research report on Wednesday, July 3rd. Bank of America increased their price objective on shares of Embraer from $28.00 to $40.00 and gave the stock a buy rating in a research report on Thursday, August 22nd. Finally, StockNews.com downgraded shares of Embraer from a buy rating to a hold rating in a research report on Tuesday, July 23rd. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, Embraer currently has a consensus rating of Moderate Buy and an average price target of $32.50.

Embraer Stock Performance

Shares of NYSE:ERJ opened at $34.79 on Wednesday. Embraer has a 52 week low of $12.48 and a 52 week high of $35.32. The company has a quick ratio of 0.66, a current ratio of 1.50 and a debt-to-equity ratio of 0.81. The company has a 50 day moving average price of $30.11 and a two-hundred day moving average price of $27.13.

Embraer (NYSE:ERJ) last issued its quarterly earnings data on Thursday, August 8th. The aerospace company reported $0.44 earnings per share (EPS) for the quarter, topping 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 company had revenue of $1.49 billion during the quarter, compared to the consensus estimate of $1.44 billion. During the same quarter in the prior year, the firm earned $0.32 earnings per share. The firm’s revenue was up 15.6% compared to the same quarter last year. As a group, analysts forecast that Embraer will post 1.37 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Capital Wealth Planning LLC bought a new position in Embraer in the fourth quarter valued at $919,000. SteelPeak Wealth LLC acquired a new stake in Embraer in the 2nd quarter valued at about $443,000. SG Americas Securities LLC bought a new position in Embraer during the second quarter worth about $2,458,000. Atria Investments Inc acquired a new position in Embraer during the first quarter worth approximately $1,671,000. Finally, Blue Trust Inc. raised its stake in Embraer by 35.7% in the second quarter. Blue Trust Inc. now owns 11,758 shares of the aerospace company’s stock valued at $313,000 after buying an additional 3,091 shares during the period. 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.