Embraer (NYSE:ERJ) Given New $55.00 Price Target at Bank of America

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

A number of other analysts have also weighed in on ERJ. UBS Group lowered shares of Embraer from a “neutral” rating to a “sell” rating and upped their price objective for the stock from $29.00 to $32.00 in a research note on Tuesday, November 19th. TD Cowen upgraded Embraer from a “hold” rating to a “buy” rating and upped their target price for the stock from $26.00 to $41.00 in a report on Wednesday, September 4th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat, Embraer has a consensus rating of “Moderate Buy” and an average target price of $37.43.

Embraer Stock Performance

Shares of NYSE:ERJ opened at $39.00 on Thursday. 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 firm has a market cap of $7.16 billion, a PE ratio of 14.34 and a beta of 1.70. The firm’s 50 day simple moving average is $35.36 and its 200-day simple moving average is $31.80. Embraer has a one year low of $16.15 and a one year high of $39.46.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Sunbelt Securities Inc. purchased a new stake in Embraer in the 2nd quarter worth approximately $41,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Embraer in the 2nd quarter worth about $44,000. Ashton Thomas Private Wealth LLC purchased a new position in Embraer during the second quarter worth approximately $55,000. Northwestern Mutual Wealth Management Co. grew its holdings in 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 purchasing an additional 456 shares during the period. Finally, Asset Dedication LLC acquired a new position in shares of Embraer during the 2nd quarter worth approximately $71,000. 34.65% of the stock is currently owned by hedge funds and other 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.