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

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

Several other brokerages have also recently commented on ERJ. UBS Group boosted their target price 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. StockNews.com cut Embraer from a buy rating to a hold rating in a research note on Tuesday, July 23rd. Finally, Bank of America lifted their price target on Embraer from $28.00 to $40.00 and gave the company a buy rating in a research note on Thursday, August 22nd. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus price target of $32.50.

Embraer Stock Down 5.6 %

NYSE ERJ opened at $33.83 on Wednesday. The company has a current ratio of 1.50, a quick ratio of 0.66 and a debt-to-equity ratio of 0.81. The company has a market cap of $6.21 billion, a price-to-earnings ratio of 23.49 and a beta of 1.69. The company has a 50 day moving average of $30.43 and a 200-day moving average of $27.30. Embraer has a 1-year low of $12.48 and a 1-year high of $36.02.

Embraer (NYSE:ERJ) last released its earnings results on Thursday, August 8th. The aerospace company reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.24 by $0.20. The firm had revenue of $1.49 billion during the quarter, compared to the consensus estimate of $1.44 billion. Embraer had a return on equity of 5.94% and a net margin of 6.76%. The company’s revenue was up 15.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.32 EPS. On average, equities research analysts expect that Embraer will post 1.37 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Embraer

Institutional investors and hedge funds have recently bought and sold shares of the company. Driehaus Capital Management LLC increased its stake in shares of Embraer by 102.5% in the second quarter. Driehaus Capital Management LLC now owns 1,439,579 shares of the aerospace company’s stock valued at $37,141,000 after buying an additional 728,592 shares during the period. Simplicity Wealth LLC bought a new position in shares of Embraer during the first quarter valued at $18,158,000. Nicholas Investment Partners LP lifted its holdings in shares of Embraer by 424.7% during the second quarter. Nicholas Investment Partners LP now owns 526,494 shares of the aerospace company’s stock worth $13,584,000 after purchasing an additional 426,153 shares during the period. TimesSquare Capital Management LLC bought a new stake in shares of Embraer in the first quarter worth $10,754,000. Finally, Jennison Associates LLC acquired a new stake in Embraer in the first quarter valued at $9,818,000. Institutional investors and hedge funds 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.