The Goldman Sachs Group Forecasts Strong Price Appreciation for Embraer-Empresa Brasileira de Aeronautica (NYSE:ERJ) Stock

Key Points

• Goldman Sachs has raised its target price for Embraer (NYSE:ERJ) from $60.00 to $67.00, indicating a potential upside of 15.69% based on its recent stock close.
• HSBC upgraded Embraer's rating from "hold" to "buy" and lifted its target price to $57.00, adding to the positive sentiment towards the stock.
• Embraer reported quarterly earnings with a loss per share of $0.02, missing analysts' consensus estimates but generated revenue of $1.82 billion, exceeding expectations.

Embraer-Empresa Brasileira de Aeronautica (NYSE:ERJ - Get Free Report) had its target price raised by equities research analysts at The Goldman Sachs Group from $60.00 to $67.00 in a report issued on Thursday,Benzinga reports. The firm currently has a "buy" rating on the aerospace company's stock. The Goldman Sachs Group's price target suggests a potential upside of 15.69% from the stock's previous close.

A number of other equities research analysts have also weighed in on ERJ. HSBC upgraded shares of Embraer-Empresa Brasileira de Aeronautica from a "hold" rating to a "buy" rating and boosted their target price for the company from $45.00 to $57.00 in a research note on Wednesday, June 4th. Hsbc Global Res upgraded shares of Embraer-Empresa Brasileira de Aeronautica from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, June 4th. UBS Group reiterated a "sell" rating and issued a $39.00 price objective (up previously from $35.00) on shares of Embraer-Empresa Brasileira de Aeronautica in a research note on Thursday, April 24th. Finally, Wolfe Research upgraded shares of Embraer-Empresa Brasileira de Aeronautica from a "peer perform" rating to an "outperform" rating and set a $64.00 price objective on the stock in a research note on Thursday, July 31st. One analyst has rated the stock with a sell rating, one has assigned a hold rating, four have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $53.83.

Embraer-Empresa Brasileira de Aeronautica Trading Up 1.4%

NYSE ERJ traded up $0.77 during trading on Thursday, hitting $57.91. The company had a trading volume of 728,288 shares, compared to its average volume of 1,789,222. The company has a current ratio of 1.32, a quick ratio of 0.59 and a debt-to-equity ratio of 0.56. Embraer-Empresa Brasileira de Aeronautica has a one year low of $27.70 and a one year high of $61.65. The company has a market cap of $10.64 billion, a price-to-earnings ratio of 28.19 and a beta of 1.76. The company's fifty day moving average is $52.42 and its 200-day moving average is $47.98.

Embraer-Empresa Brasileira de Aeronautica (NYSE:ERJ - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The aerospace company reported ($0.02) EPS for the quarter, missing analysts' consensus estimates of $0.47 by ($0.49). Embraer-Empresa Brasileira de Aeronautica had a return on equity of 13.58% and a net margin of 5.43%. The company had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.67 billion. During the same period in the prior year, the firm earned $0.44 earnings per share. On average, sell-side analysts predict that Embraer-Empresa Brasileira de Aeronautica will post 2.04 earnings per share for the current year.

Institutional Trading of Embraer-Empresa Brasileira de Aeronautica

Several large investors have recently bought and sold shares of ERJ. GQG Partners LLC purchased a new position in Embraer-Empresa Brasileira de Aeronautica during the first quarter worth approximately $276,246,000. Jennison Associates LLC increased its position in Embraer-Empresa Brasileira de Aeronautica by 215.7% during the first quarter. Jennison Associates LLC now owns 4,126,160 shares of the aerospace company's stock worth $190,629,000 after purchasing an additional 2,819,306 shares during the last quarter. JPMorgan Chase & Co. raised its stake in Embraer-Empresa Brasileira de Aeronautica by 654.5% during the first quarter. JPMorgan Chase & Co. now owns 3,500,799 shares of the aerospace company's stock worth $161,737,000 after purchasing an additional 3,036,797 shares during the period. Invesco Ltd. boosted its holdings in Embraer-Empresa Brasileira de Aeronautica by 116.8% in the 1st quarter. Invesco Ltd. now owns 2,678,821 shares of the aerospace company's stock valued at $123,762,000 after purchasing an additional 1,443,186 shares during the last quarter. Finally, Gilder Gagnon Howe & Co. LLC grew its stake in shares of Embraer-Empresa Brasileira de Aeronautica by 19.0% in the 4th quarter. Gilder Gagnon Howe & Co. LLC now owns 2,439,060 shares of the aerospace company's stock valued at $89,465,000 after buying an additional 390,094 shares during the period. Hedge funds and other institutional investors own 34.65% of the company's stock.

About Embraer-Empresa Brasileira de Aeronautica

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.

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