Embraer (NYSE:ERJ) Reaches New 12-Month High at $35.32

Embraer S.A. (NYSE:ERJ)’s share price reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $35.32 and last traded at $35.31, with a volume of 35514 shares traded. The stock had previously closed at $34.79.

Analysts Set New Price Targets

ERJ has been the topic of several recent analyst reports. Bank of America boosted their target price on shares of Embraer from $28.00 to $40.00 and gave the company a “buy” rating in a report on Thursday, August 22nd. UBS Group upped their price objective on Embraer from $28.50 to $29.00 and gave the company a “neutral” rating in a report on Wednesday, July 3rd. StockNews.com cut Embraer from a “buy” rating to a “hold” rating in a research note on Tuesday, July 23rd. Finally, TD Cowen raised Embraer from a “hold” rating to a “buy” rating and upped their price target for the company from $26.00 to $41.00 in a research note on Wednesday. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $32.50.

Embraer Stock Down 5.6 %

The business has a 50 day simple moving average of $30.43 and a 200 day simple moving average of $27.30. The company has a market capitalization of $6.21 billion, a price-to-earnings ratio of 23.49 and a beta of 1.69. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.50 and a quick ratio of 0.66.

Embraer (NYSE:ERJ) last posted its earnings results on Thursday, August 8th. The aerospace company reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.20. The firm had revenue of $1.49 billion for the quarter, compared to analyst estimates of $1.44 billion. Embraer had a return on equity of 5.94% and a net margin of 6.76%. Embraer’s revenue was up 15.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.32 EPS. As a group, equities analysts predict that Embraer S.A. will post 1.37 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in ERJ. Driehaus Capital Management LLC boosted its position in Embraer by 102.5% in the 2nd quarter. Driehaus Capital Management LLC now owns 1,439,579 shares of the aerospace company’s stock valued at $37,141,000 after buying an additional 728,592 shares during the period. Simplicity Wealth LLC purchased a new position in Embraer in the first quarter valued at $18,158,000. Nicholas Investment Partners LP boosted its holdings in Embraer by 424.7% in the second quarter. Nicholas Investment Partners LP now owns 526,494 shares of the aerospace company’s stock valued at $13,584,000 after purchasing an additional 426,153 shares during the period. TimesSquare Capital Management LLC acquired a new position in Embraer during the 1st quarter worth $10,754,000. Finally, Jennison Associates LLC purchased a new stake in Embraer during the 1st quarter worth about $9,818,000. Hedge funds and other institutional investors own 34.65% of the company’s stock.

Embraer Company Profile

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.