Embraer (NYSE:ERJ) Cut to “Hold” at StockNews.com

StockNews.com downgraded shares of Embraer (NYSE:ERJFree Report) from a buy rating to a hold rating in a research report sent to investors on Friday.

Several other research analysts have also issued reports on the company. Citigroup raised Embraer from a neutral rating to a buy rating and set a $16.00 target price on the stock in a research report on Monday, October 16th. HSBC lowered Embraer from a buy rating to a hold rating and increased their price objective for the company from $18.00 to $19.00 in a report on Tuesday, February 6th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of Moderate Buy and a consensus target price of $19.75.

Check Out Our Latest Stock Analysis on Embraer

Embraer Price Performance

ERJ opened at $18.12 on Friday. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.65 and a quick ratio of 0.80. Embraer has a 12 month low of $12.20 and a 12 month high of $20.13. The stock has a fifty day moving average price of $18.24 and a 200-day moving average price of $16.09.

Hedge Funds Weigh In On Embraer

A number of hedge funds have recently bought and sold shares of the business. Renaissance Technologies LLC boosted its stake in Embraer by 148.1% during the first quarter. Renaissance Technologies LLC now owns 2,869,400 shares of the aerospace company’s stock worth $36,183,000 after buying an additional 1,712,800 shares during the last quarter. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Embraer in the fourth quarter valued at about $14,576,000. Mangrove Partners purchased a new stake in shares of Embraer in the fourth quarter valued at about $14,162,000. BlackRock Inc. grew its holdings in shares of Embraer by 172.0% in the third quarter. BlackRock Inc. now owns 1,515,750 shares of the aerospace company’s stock valued at $13,037,000 after purchasing an additional 958,585 shares during the period. Finally, Itau Unibanco Holding S.A. grew its holdings in shares of Embraer by 3,990.8% in the second quarter. Itau Unibanco Holding S.A. now owns 845,032 shares of the aerospace company’s stock valued at $12,480,000 after purchasing an additional 824,375 shares during the period. Hedge funds and other institutional investors own 34.65% of the company’s stock.

Embraer Company Profile

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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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