Imperial Capital Cuts Erickson Price Target to $13.00 (EAC)
Stock analysts at Imperial Capital decreased their target price on shares of Erickson (NYSE:EAC) from $17.00 to $13.00 in a report issued on Wednesday. The firm currently has an “in-line” rating on the stock. Imperial Capital’s target price indicates a potential downside of 1.66% from the stock’s previous close.
Shares of Erickson (NYSE:EAC) traded down 0.23% during mid-day trading on Wednesday, hitting $13.19. 1,951 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 $14.40 and its 200-day moving average is $16.75. The company’s market cap is $182.0 million.
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. On average, analysts predict that Erickson will post $0.49 earnings per share for the current fiscal year.
EAC has been the subject of a number of other recent research reports. Analysts at Zacks downgraded shares of Erickson from a “neutral” rating to an “underperform” rating in a research note on Tuesday, August 12th. They now have a $12.90 price target on the stock. Separately, analysts at FIG Partners cut their price target on shares of Erickson from $24.00 to $18.00 in a research note on Monday, August 11th. They now have a “buy” rating on the stock. Finally, analysts at Singular Research cut their price target on shares of Erickson from $24.00 to $18.00 in a research note on Monday, August 11th. They now have a “buy” rating on the stock. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $18.27.
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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