Craig Hallum Downgrades Erickson to Hold (EAC)
Erickson (NYSE:EAC) was downgraded by equities research analysts at Craig Hallum from a “buy” rating to a “hold” rating in a research note issued to investors on Friday, TheFlyOnTheWall.com reports.
Erickson (NYSE:EAC) opened at 14.73 on Friday. Erickson has a 52 week low of $14.10 and a 52 week high of $21.94. The stock has a 50-day moving average of $15.46 and a 200-day moving average of $17.38. The company has a market cap of $203.4 million and a price-to-earnings ratio of 55.63.
Erickson (NYSE:EAC) last posted its quarterly earnings results on Thursday, August 7th. The company reported ($0.27) EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.13 by $0.40. The company had revenue of $80.90 million for the quarter, compared to the consensus estimate of $86.77 million. During the same quarter in the prior year, the company posted ($0.20) earnings per share. The company’s quarterly revenue was up 17.9% on a year-over-year basis. Analysts expect that Erickson will post $1.08 EPS for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at Canaccord Genuity cut their price target on shares of Erickson from $20.00 to $18.00 in a research note on Friday. Separately, analysts at BWS Financial initiated coverage on shares of Erickson in a research note on Friday, June 20th. They set a “buy” rating and a $33.00 price target on the stock. Finally, analysts at Imperial Capital cut their price target on shares of Erickson from $20.00 to $17.00 in a research note on Tuesday, May 13th. They now have an “in-line” rating on the stock. Two equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $23.00.
Erickson Inc (NYSE:EAC), formerly Erickson Air-Crane Incorporated, is engaged in the operation and manufacture of the Erickson S-64 Aircrane (Aircrane), a heavy-lift helicopter.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.