Embraer (NYSE:ERJ) Sets New 12-Month High at $36.02

Embraer S.A. (NYSE:ERJ) hit a new 52-week high during trading on Thursday . The stock traded as high as $36.02 and last traded at $36.01, with a volume of 849486 shares. The stock had previously closed at $34.80.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on ERJ shares. StockNews.com downgraded shares of Embraer from a “buy” rating to a “hold” rating in a report on Tuesday, July 23rd. UBS Group lifted their price objective on Embraer from $28.50 to $29.00 and gave the stock a “neutral” rating in a report on Wednesday, July 3rd. Bank of America raised their target price on Embraer from $28.00 to $40.00 and gave the company a “buy” rating in a research report on Thursday, August 22nd. Finally, TD Cowen upgraded Embraer from a “hold” rating to a “buy” rating and boosted their price target for the stock from $26.00 to $41.00 in a research report on Wednesday, September 4th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $32.50.

Embraer Stock Performance

The company has a current ratio of 1.50, a quick ratio of 0.66 and a debt-to-equity ratio of 0.81. The firm has a fifty day moving average price of $31.32 and a 200 day moving average price of $27.89. The firm has a market cap of $6.79 billion, a PE ratio of 25.67 and a beta of 1.69.

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

Hedge Funds Weigh In On Embraer

Several large investors have recently modified their holdings of ERJ. American Century Companies Inc. raised its holdings in Embraer by 6.4% in the 2nd quarter. American Century Companies Inc. now owns 2,304,245 shares of the aerospace company’s stock valued at $59,450,000 after buying an additional 137,695 shares during the period. Renaissance Technologies LLC raised its stake in shares of Embraer by 13.6% in the 2nd quarter. Renaissance Technologies LLC now owns 1,648,800 shares of the aerospace company’s stock valued at $42,539,000 after acquiring an additional 197,600 shares during the period. Driehaus Capital Management LLC lifted its stake in Embraer by 102.5% during the second quarter. Driehaus Capital Management LLC now owns 1,439,579 shares of the aerospace company’s stock worth $37,141,000 after purchasing an additional 728,592 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in Embraer by 8.0% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 797,646 shares of the aerospace company’s stock worth $21,249,000 after acquiring an additional 59,084 shares in the last quarter. Finally, Marshall Wace LLP lifted its position in shares of Embraer by 76.5% during the second quarter. Marshall Wace LLP now owns 712,112 shares of the aerospace company’s stock worth $18,372,000 after purchasing an additional 308,729 shares in the last quarter. Institutional investors and hedge funds own 34.65% of the company’s stock.

About Embraer

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.