TD Cowen Upgrades Embraer (NYSE:ERJ) to Buy

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

ERJ has been the topic of several other reports. Bank of America boosted 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. StockNews.com lowered shares of Embraer from a buy rating to a hold rating in a research note on Tuesday, July 23rd. Finally, UBS Group lifted their price target on shares of Embraer from $28.50 to $29.00 and gave the company a neutral rating in a research note on Wednesday, July 3rd. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, Embraer presently has an average rating of Moderate Buy and a consensus target price of $32.50.

Embraer Trading Down 5.6 %

NYSE:ERJ opened at $33.83 on Wednesday. Embraer has a 52 week low of $12.48 and a 52 week high of $36.02. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.66 and a current ratio of 1.50. The firm’s fifty day moving average is $30.43 and its 200-day moving average is $27.30. The firm has a market cap of $6.21 billion, a P/E ratio of 23.49 and a beta of 1.69.

Embraer (NYSE:ERJ) last issued its quarterly earnings results on Thursday, August 8th. The aerospace company reported $0.44 EPS 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 business had revenue of $1.49 billion for the quarter, compared to analysts’ expectations of $1.44 billion. During the same quarter in the prior year, the firm posted $0.32 earnings per share. The business’s quarterly revenue was up 15.6% compared to the same quarter last year. Equities analysts expect that Embraer will post 1.37 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of ERJ. American Century Companies Inc. increased 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 in the last quarter. Renaissance Technologies LLC increased its holdings in Embraer by 13.6% during the 2nd quarter. Renaissance Technologies LLC now owns 1,648,800 shares of the aerospace company’s stock worth $42,539,000 after purchasing an additional 197,600 shares in the last quarter. Driehaus Capital Management LLC raised 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 worth $37,141,000 after purchasing an additional 728,592 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of Embraer by 8.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 797,646 shares of the aerospace company’s stock valued at $21,249,000 after purchasing an additional 59,084 shares in the last quarter. Finally, Marshall Wace LLP boosted its position in shares of Embraer by 76.5% during the second quarter. Marshall Wace LLP now owns 712,112 shares of the aerospace company’s stock valued at $18,372,000 after buying an additional 308,729 shares during the last quarter. 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.