Embraer-Empresa Brasileira de Aeronautica (ERJ) Lowered to Sell at Zacks Investment Research

Embraer-Empresa Brasileira de Aeronautica (NYSE:ERJ) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Thursday.

According to Zacks, “Embraer operates in a highly competitive commercial aircraft manufacturing industry, which requires it to invest heavily in technology and performance enhancement to meet growing demand in this industry. It is also hurt by the weakening Brazilian real against the U.S. dollar. The soft Defense and Security business is also a headwind. Moreover, Embraer’s share price underperformed the industry’s gain in last year. On the brighter note, The company continues to lead the 70- to 130-seat commercial jet market.  Moreover, Embraer sees more room for growth given the rising air traffic.”

Several other equities analysts have also recently weighed in on ERJ. BidaskClub upgraded Embraer-Empresa Brasileira de Aeronautica from a “hold” rating to a “buy” rating in a report on Wednesday, August 9th. Goldman Sachs Group, Inc. (The) cut Embraer-Empresa Brasileira de Aeronautica from a “buy” rating to a “sell” rating and decreased their price objective for the company from $26.00 to $18.00 in a report on Thursday, August 10th. TheStreet upgraded Embraer-Empresa Brasileira de Aeronautica from a “c” rating to a “b-” rating in a report on Thursday, August 10th. ValuEngine upgraded Embraer-Empresa Brasileira de Aeronautica from a “buy” rating to a “strong-buy” rating in a report on Tuesday, August 1st. Finally, Cowen and Company restated a “hold” rating and issued a $24.00 price objective on shares of Embraer-Empresa Brasileira de Aeronautica in a report on Tuesday, July 11th. Two research analysts have rated the stock with a sell rating, two have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $20.50.

Embraer-Empresa Brasileira de Aeronautica (NYSE:ERJ) traded down 0.54% during mid-day trading on Thursday, hitting $22.27. The stock had a trading volume of 2,005,024 shares. The stock’s 50-day moving average is $22.89 and its 200 day moving average is $20.69. The company has a market capitalization of $16.36 billion, a P/E ratio of 60.68 and a beta of 0.34. Embraer-Empresa Brasileira de Aeronautica has a 52 week low of $17.41 and a 52 week high of $24.95.

Embraer-Empresa Brasileira de Aeronautica (NYSE:ERJ) last announced its quarterly earnings data on Friday, July 28th. The aerospace company reported $0.67 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.49 by $0.18. The company had revenue of $1.77 billion during the quarter, compared to analysts’ expectations of $1.62 billion. Embraer-Empresa Brasileira de Aeronautica had a return on equity of 11.02% and a net margin of 4.15%. Embraer-Empresa Brasileira de Aeronautica’s revenue for the quarter was up 29.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.24 EPS. Equities analysts forecast that Embraer-Empresa Brasileira de Aeronautica will post $1.57 earnings per share for the current fiscal year.

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A number of institutional investors have recently bought and sold shares of ERJ. Wells Fargo & Company MN grew its holdings in Embraer-Empresa Brasileira de Aeronautica by 41.9% during the first quarter. Wells Fargo & Company MN now owns 118,846 shares of the aerospace company’s stock worth $2,625,000 after purchasing an additional 35,112 shares during the period. Great West Life Assurance Co. Can bought a new position in Embraer-Empresa Brasileira de Aeronautica during the first quarter worth about $460,000. Comerica Bank grew its holdings in Embraer-Empresa Brasileira de Aeronautica by 1.6% during the first quarter. Comerica Bank now owns 12,358 shares of the aerospace company’s stock worth $236,000 after purchasing an additional 198 shares during the period. Karp Capital Management Corp bought a new position in Embraer-Empresa Brasileira de Aeronautica during the first quarter worth about $415,000. Finally, Ameriprise Financial Inc. bought a new position in Embraer-Empresa Brasileira de Aeronautica during the first quarter worth about $9,848,000. Institutional investors and hedge funds own 50.79% of the company’s stock.

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