Embraer (NYSE:ERJ) Price Target Raised to $55.00

Embraer (NYSE:ERJ) had its price objective lifted by Bank of America from $40.00 to $55.00 in a research report released on Thursday,Benzinga reports. The firm currently has a buy rating on the aerospace company’s stock.

Several other analysts also recently weighed in on the company. TD Cowen upgraded Embraer from a “hold” rating to a “buy” rating and upped their price objective for the stock from $26.00 to $41.00 in a research report on Wednesday, September 4th. UBS Group downgraded Embraer from a “neutral” rating to a “sell” rating and increased their target price for the company from $29.00 to $32.00 in a research report on Tuesday. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $37.43.

Embraer Price Performance

Shares of ERJ stock traded down $0.21 on Thursday, hitting $38.61. 74,506 shares of the company’s stock were exchanged, compared to its average volume of 1,600,530. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.56 and a quick ratio of 0.76. Embraer has a 12 month low of $16.15 and a 12 month high of $39.46. The company has a 50 day moving average of $35.32 and a 200 day moving average of $31.64.

Hedge Funds Weigh In On Embraer

A number of hedge funds have recently made changes to their positions in the stock. American Century Companies Inc. raised its position in shares of Embraer by 6.4% during the second quarter. American Century Companies Inc. now owns 2,304,245 shares of the aerospace company’s stock worth $59,450,000 after acquiring an additional 137,695 shares during the last quarter. Renaissance Technologies LLC raised its position in shares of Embraer by 13.6% during the second quarter. Renaissance Technologies LLC now owns 1,648,800 shares of the aerospace company’s stock worth $42,539,000 after acquiring an additional 197,600 shares during the last quarter. Driehaus Capital Management LLC raised its position in shares of Embraer by 102.5% during the second quarter. Driehaus Capital Management LLC now owns 1,439,579 shares of the aerospace company’s stock worth $37,141,000 after acquiring an additional 728,592 shares during the last quarter. Jennison Associates LLC raised its position in shares of Embraer by 102.1% during the third quarter. Jennison Associates LLC now owns 1,331,631 shares of the aerospace company’s stock worth $47,100,000 after acquiring an additional 672,644 shares during the last quarter. Finally, Itau Unibanco Holding S.A. raised its position in shares of Embraer by 54.8% during the third quarter. Itau Unibanco Holding S.A. now owns 1,112,314 shares of the aerospace company’s stock worth $39,343,000 after acquiring an additional 393,696 shares during the last quarter. 34.65% of the stock is currently owned by 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.