Embraer (NYSE:ERJ) Earns “Buy” Rating from Bank of America

Embraer (NYSE:ERJ)‘s stock had its “buy” rating restated by stock analysts at Bank of America in a research note issued on Tuesday, Benzinga reports. They currently have a $40.00 price target on the aerospace company’s stock. Bank of America‘s price target points to a potential upside of 14.93% from the company’s current price.

Other equities analysts have also recently issued reports about the stock. TD Cowen upgraded shares of Embraer from a “hold” rating to a “buy” rating and upped their price target for the company from $26.00 to $41.00 in a research report on Wednesday, September 4th. UBS Group upped their price target on shares of Embraer from $28.50 to $29.00 and gave the company a “neutral” rating in a research report on Wednesday, July 3rd. Finally, StockNews.com cut 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 company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $32.50.

Embraer Price Performance

ERJ stock opened at $34.81 on Tuesday. The company has a 50 day simple moving average of $31.62 and a 200 day simple moving average of $28.22. The stock has a market cap of $6.39 billion, a price-to-earnings ratio of 24.17 and a beta of 1.69. Embraer has a 1 year low of $12.48 and a 1 year high of $37.26. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.50 and a quick ratio of 0.66.

Embraer (NYSE:ERJ) last announced its quarterly 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 firm had revenue of $1.49 billion during the quarter, compared to analysts’ expectations of $1.44 billion. During the same period in the prior year, the company posted $0.32 EPS. The company’s revenue was up 15.6% on a year-over-year basis. Research analysts anticipate that Embraer will post 1.49 EPS for the current fiscal year.

Institutional Investors Weigh In On Embraer

Large investors have recently added to or reduced their stakes in the business. PNC Financial Services Group Inc. bought a new stake in Embraer in the fourth quarter valued at $30,000. Sunbelt Securities Inc. acquired a new stake in shares of Embraer in the 2nd quarter valued at about $41,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Embraer in the 2nd quarter valued at about $44,000. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Embraer in the 2nd quarter valued at about $55,000. Finally, Northwestern Mutual Wealth Management Co. grew its stake in shares of Embraer by 25.0% in the 2nd 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 during the period. Institutional investors and hedge funds own 34.65% of the company’s stock.

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.