StockNews.com Lowers Embraer (NYSE:ERJ) to Hold

StockNews.com cut shares of Embraer (NYSE:ERJ) from a buy rating to a hold rating in a research note released on Monday morning.

Several other brokerages have also recently issued reports on ERJ. Morgan Stanley increased their price objective on Embraer from $19.50 to $40.00 and gave the stock an overweight rating in a research note on Thursday, March 14th. JPMorgan Chase & Co. raised their price target on shares of Embraer from $21.00 to $40.00 and gave the company an overweight rating in a research note on Friday, March 22nd. HSBC lowered shares of Embraer from a buy rating to a hold rating and upped their price objective for the company from $18.00 to $19.00 in a report on Tuesday, February 6th. The Goldman Sachs Group lifted their target price on shares of Embraer from $21.00 to $35.00 and gave the stock a buy rating in a research note on Friday, March 22nd. Finally, UBS Group reissued a neutral rating and issued a $28.50 price target (up previously from $21.00) on shares of Embraer in a research note on Tuesday, March 26th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus target price of $29.75.

Embraer Stock Performance

NYSE ERJ opened at $26.38 on Monday. The company has a quick ratio of 0.93, a current ratio of 1.65 and a debt-to-equity ratio of 0.91. The business has a 50-day moving average price of $24.61 and a 200-day moving average price of $19.90. Embraer has a twelve month low of $12.48 and a twelve month high of $27.47.

Embraer (NYSE:ERJ) last announced its earnings results on Monday, March 18th. The aerospace company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.15. The firm had revenue of $1.98 billion for the quarter, compared to analysts’ expectations of $2.21 billion. Embraer had a net margin of 3.11% and a return on equity of 2.80%. Equities analysts predict that Embraer will post 1.36 earnings per share for the current year.

Institutional Trading of Embraer

Institutional investors and hedge funds have recently bought and sold shares of the business. Brandes Investment Partners LP increased its holdings in shares of Embraer by 1.6% in the 3rd quarter. Brandes Investment Partners LP now owns 17,880,297 shares of the aerospace company’s stock valued at $245,318,000 after acquiring an additional 285,282 shares during the last quarter. Itau Unibanco Holding S.A. raised its holdings in Embraer by 69.3% during the third quarter. Itau Unibanco Holding S.A. now owns 1,431,059 shares of the aerospace company’s stock worth $19,634,000 after purchasing an additional 586,027 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of Embraer by 8.0% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 797,646 shares of the aerospace company’s stock worth $21,249,000 after buying an additional 59,084 shares during the last quarter. Canada Pension Plan Investment Board acquired a new position in shares of Embraer in the 3rd quarter valued at $9,884,000. Finally, Simplicity Wealth LLC purchased a new position in shares of Embraer in the 1st quarter valued at $18,158,000. 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.