Embraer (NYSE:ERJ) Given Buy Rating at Bank of America

Bank of America reaffirmed their buy rating on shares of Embraer (NYSE:ERJ) in a research note released on Tuesday morning, Benzinga reports. The brokerage currently has a $40.00 price objective on the aerospace company’s stock.

A number of other brokerages also recently issued reports on ERJ. UBS Group lifted their price target on Embraer from $28.50 to $29.00 and gave the company a neutral rating in a report on Wednesday, July 3rd. TD Cowen upgraded 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 research note on Wednesday, September 4th. Finally, StockNews.com lowered shares of Embraer from a buy rating to a hold rating in a research report on Tuesday, July 23rd. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average price target of $32.50.

Embraer Stock Up 0.9 %

NYSE:ERJ opened at $35.10 on Tuesday. 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 has a 1-year low of $12.48 and a 1-year high of $37.26. The company has a 50-day moving average of $31.83 and a 200 day moving average of $28.31. The firm has a market cap of $6.45 billion, a PE ratio of 24.38 and a beta of 1.69.

Embraer (NYSE:ERJ) last announced its quarterly earnings results on Thursday, August 8th. The aerospace company reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.20. The firm had revenue of $1.49 billion during the quarter, compared to analysts’ expectations of $1.44 billion. Embraer had a net margin of 6.76% and a return on equity of 5.94%. The company’s revenue was up 15.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.32 EPS. As a group, research analysts anticipate that Embraer will post 1.49 EPS for the current fiscal year.

Institutional Investors Weigh In On Embraer

Institutional investors have recently added to or reduced their stakes in the business. PNC Financial Services Group Inc. acquired a new position in shares of Embraer during the fourth quarter valued at about $30,000. Sunbelt Securities Inc. purchased a new stake in shares of Embraer during the second quarter valued at $41,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Embraer in the 2nd quarter valued at $44,000. Ashton Thomas Private Wealth LLC purchased a new position in Embraer in the 2nd quarter worth $55,000. Finally, Northwestern Mutual Wealth Management Co. lifted its position in Embraer by 25.0% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,280 shares of the aerospace company’s stock worth $59,000 after acquiring 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.