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 released on Wednesday, Marketbeat Ratings reports. TD Cowen currently has $41.00 price target on the aerospace company’s stock, up from their prior price target of $26.00.

ERJ has been the subject of a number of other research reports. UBS Group raised their price objective on shares of Embraer from $28.50 to $29.00 and gave the stock a neutral rating in a report on Wednesday, July 3rd. StockNews.com downgraded shares of Embraer from a buy rating to a hold rating in a report on Tuesday, July 23rd. Finally, Bank of America raised their price objective on shares of Embraer from $28.00 to $40.00 and gave the stock a buy rating in a report on Thursday, August 22nd. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus target price of $32.50.

Embraer Stock Down 5.7 %

ERJ opened at $33.79 on Wednesday. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.50 and a quick ratio of 0.66. The company’s 50-day moving average is $30.43 and its 200 day moving average is $27.36. Embraer has a fifty-two week low of $12.48 and a fifty-two week high of $36.02. The firm has a market capitalization of $6.21 billion, a P/E ratio of 23.47 and a beta of 1.69.

Embraer (NYSE:ERJ) last released its quarterly 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. Embraer had a net margin of 6.76% and a return on equity of 5.94%. The company had revenue of $1.49 billion for the quarter, compared to analyst estimates of $1.44 billion. During the same period last year, the firm earned $0.32 earnings per share. The firm’s revenue was up 15.6% on a year-over-year basis. Research analysts expect that Embraer will post 1.37 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Embraer

Several large investors have recently modified their holdings of ERJ. PNC Financial Services Group Inc. purchased a new position in shares of Embraer in the fourth quarter worth about $30,000. Sunbelt Securities Inc. bought a new position in shares of Embraer in the second quarter valued at approximately $41,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Embraer in the second quarter valued at approximately $44,000. Ashton Thomas Private Wealth LLC bought a new position in shares of Embraer in the second quarter valued at approximately $55,000. Finally, Northwestern Mutual Wealth Management Co. boosted its position in shares of Embraer by 25.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,280 shares of the aerospace company’s stock valued at $59,000 after acquiring an additional 456 shares during the period. Hedge funds and other institutional investors 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.