FIG Partners Lowers Erickson Price Target to $18.00 (EAC)
Equities researchers at FIG Partners lowered their price target on shares of Erickson (NYSE:EAC) from $24.00 to $18.00 in a research report issued on Monday. The firm currently has a “buy” rating on the stock. FIG Partners’ price objective would indicate a potential upside of 42.52% from the stock’s previous close.
Shares of Erickson (NYSE:EAC) traded up 7.60% on Monday, hitting $13.59. 74,613 shares of the company’s stock traded hands. Erickson has a 52 week low of $11.32 and a 52 week high of $21.94. The stock’s 50-day moving average is $15.31 and its 200-day moving average is $17.25. The company has a market cap of $187.7 million and a P/E ratio of 48.02.
Erickson (NYSE:EAC) last issued its quarterly earnings data on Thursday, August 7th. The company reported ($0.27) earnings per share (EPS) for the quarter, missing the 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 previous year, the company posted ($0.20) earnings per share. The company’s revenue for the quarter was up 17.9% on a year-over-year basis. Analysts expect that Erickson will post $1.08 EPS for the current fiscal year.
EAC has been the subject of a number of other recent research reports. Analysts at Singular Research cut their price target on shares of Erickson from $24.00 to $18.00 in a research note on Monday. They now have a “buy” rating on the stock. Separately, analysts at Craig Hallum downgraded shares of Erickson from a “buy” rating to a “hold” rating in a research note on Friday. They now have a $15.00 price target on the stock, down previously from $28.00. Finally, analysts at Canaccord Genuity cut their price target on shares of Erickson from $20.00 to $18.00 in a research note on Friday. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $19.83.
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.
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