Embraer (NYSE:ERJ) Stock Price Up 3.8% – Here’s What Happened

Embraer S.A. (NYSE:ERJ) shot up 3.8% during trading on Thursday . The company traded as high as $48.45 and last traded at $47.56. 595,496 shares changed hands during mid-day trading, a decline of 62% from the average session volume of 1,569,830 shares. The stock had previously closed at $45.83.

Wall Street Analysts Forecast Growth

ERJ has been the topic of several analyst reports. TD Cowen raised Embraer to a “strong-buy” rating in a research note on Thursday, December 19th. Wolfe Research reiterated a “peer perform” rating on shares of Embraer in a research report on Monday, March 24th. The Goldman Sachs Group boosted their price objective on shares of Embraer from $44.00 to $50.00 and gave the company a “buy” rating in a report on Monday, March 3rd. Finally, StockNews.com downgraded shares of Embraer from a “buy” rating to a “hold” rating in a research note on Monday, March 10th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $44.50.

Embraer Trading Down 7.8 %

The firm has a market capitalization of $7.65 billion, a price-to-earnings ratio of 15.31 and a beta of 1.36. The business’s fifty day moving average is $46.18 and its 200 day moving average is $39.87. The company has a quick ratio of 0.76, a current ratio of 1.56 and a debt-to-equity ratio of 0.74.

Embraer (NYSE:ERJ) last released its quarterly earnings results on Thursday, February 27th. The aerospace company reported $0.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.47. Embraer had a return on equity of 11.61% and a net margin of 8.24%. The firm had revenue of $2.31 billion for the quarter, compared to the consensus estimate of $2.21 billion. Equities analysts predict that Embraer S.A. will post 2.04 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in ERJ. Integrated Wealth Concepts LLC bought a new stake in Embraer during the 3rd quarter worth about $242,000. Stifel Financial Corp raised its holdings in Embraer by 33.0% during the third quarter. Stifel Financial Corp now owns 75,219 shares of the aerospace company’s stock worth $2,661,000 after acquiring an additional 18,656 shares in the last quarter. State Street Corp boosted its position in Embraer by 1.3% during the third quarter. State Street Corp now owns 368,662 shares of the aerospace company’s stock valued at $13,040,000 after purchasing an additional 4,666 shares during the last quarter. XTX Topco Ltd bought a new position in Embraer in the third quarter valued at approximately $1,203,000. Finally, Orion Portfolio Solutions LLC increased its position in shares of Embraer by 2.9% during the 3rd quarter. Orion Portfolio Solutions LLC now owns 44,174 shares of the aerospace company’s stock worth $1,562,000 after purchasing an additional 1,241 shares during the last quarter. Institutional investors and hedge funds 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.