TD Cowen Upgrades Embraer (NYSE:ERJ) to Strong-Buy

TD Cowen upgraded shares of Embraer (NYSE:ERJ) to a strong-buy rating in a research report report published on Thursday morning,Zacks.com reports.

A number of other brokerages have also recently commented on ERJ. Bank of America increased their target price on shares of Embraer from $40.00 to $55.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. UBS Group downgraded shares of Embraer from a “neutral” rating to a “sell” rating and upped their price target for the company from $29.00 to $32.00 in a research report on Tuesday, November 19th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Embraer currently has an average rating of “Moderate Buy” and an average price target of $37.43.

Embraer Trading Up 4.4 %

NYSE ERJ opened at $36.58 on Thursday. Embraer has a one year low of $16.88 and a one year high of $40.34. The company has a market capitalization of $6.72 billion, a price-to-earnings ratio of 13.45 and a beta of 1.72. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.76 and a current ratio of 1.56. The company’s 50-day simple moving average is $36.34 and its two-hundred day simple moving average is $32.89.

Hedge Funds Weigh In On Embraer

A number of hedge funds have recently made changes to their positions in the business. Artemis Investment Management LLP acquired a new stake in shares of Embraer during the third quarter worth approximately $30,358,000. Driehaus Capital Management LLC boosted its position in shares of Embraer by 102.5% in the 2nd quarter. Driehaus Capital Management LLC now owns 1,439,579 shares of the aerospace company’s stock worth $37,141,000 after purchasing an additional 728,592 shares during the last quarter. Jennison Associates LLC increased its stake in shares of Embraer by 102.1% in the 3rd quarter. Jennison Associates LLC now owns 1,331,631 shares of the aerospace company’s stock valued at $47,100,000 after acquiring an additional 672,644 shares during the last quarter. Nicholas Investment Partners LP raised its holdings in Embraer by 424.7% in 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. Finally, Itau Unibanco Holding S.A. lifted its holdings in 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 in the last quarter. 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.