Erickson Lowered to Underperform at Zacks (EAC)
Erickson (NYSE:EAC) was downgraded by Zacks from a “neutral” rating to an “underperform” rating in a research note issued on Tuesday. They currently have a $12.90 target price on the stock. Zacks‘s target price indicates a potential downside of 5.08% from the company’s current price.
Erickson (NYSE:EAC) traded down 2.06% during mid-day trading on Tuesday, hitting $13.31. The stock had a trading volume of 26,555 shares. Erickson has a one year low of $11.32 and a one year high of $21.94. The stock has a 50-day moving average of $15.31 and a 200-day moving average of $17.25. The company’s market cap is $183.7 million.
Erickson (NYSE:EAC) last announced its quarterly earnings results 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 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 $0.73 EPS for the current fiscal year.
EAC has been the subject of a number of other recent research reports. Analysts at FIG Partners 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 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. Finally, 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. One analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the stock. Erickson has an average rating of “Hold” and an average price target of $18.84.
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.
To view Zacks’ full report, visit Zacks’ official website.
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.