Embraer (NYSE:ERJ) Trading 4.5% Higher – Time to Buy?

Embraer S.A. (NYSE:ERJ)’s share price shot up 4.5% during trading on Wednesday . The company traded as high as $33.94 and last traded at $33.94. 452,092 shares changed hands during mid-day trading, a decline of 72% from the average session volume of 1,643,750 shares. The stock had previously closed at $32.47.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. TD Cowen upgraded Embraer from a “hold” rating to a “buy” rating and boosted their price objective for the company from $26.00 to $41.00 in a research report on Wednesday, September 4th. Bank of America reiterated a “buy” rating and set a $40.00 price target on shares of Embraer in a report on Tuesday, September 17th. UBS Group raised their price target on shares of Embraer from $28.50 to $29.00 and gave the stock a “neutral” rating in a report on Wednesday, July 3rd. Finally, StockNews.com downgraded shares of Embraer from a “buy” rating to a “hold” rating in a research note on Tuesday, July 23rd. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, Embraer currently has an average rating of “Moderate Buy” and a consensus target price of $32.50.

Embraer Trading Up 5.1 %

The stock’s 50 day moving average is $33.75 and its 200-day moving average is $29.72. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.50 and a quick ratio of 0.66. The company has a market capitalization of $6.27 billion, a P/E ratio of 23.81 and a beta of 1.69.

Embraer (NYSE:ERJ) last announced 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. Embraer had a return on equity of 5.94% and a net margin of 6.76%. The firm had revenue of $1.49 billion during the quarter, compared to analyst estimates of $1.44 billion. During the same quarter in the prior year, the company earned $0.32 EPS. The business’s revenue was up 15.6% compared to the same quarter last year. As a group, equities research analysts anticipate that Embraer S.A. will post 1.6 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the business. American Century Companies Inc. grew its holdings in Embraer by 6.4% in the second quarter. American Century Companies Inc. now owns 2,304,245 shares of the aerospace company’s stock worth $59,450,000 after purchasing an additional 137,695 shares during the period. Renaissance Technologies LLC lifted its holdings in shares of Embraer by 13.6% during the second quarter. Renaissance Technologies LLC now owns 1,648,800 shares of the aerospace company’s stock valued at $42,539,000 after purchasing an additional 197,600 shares during the last quarter. Driehaus Capital Management LLC boosted its position in shares of Embraer by 102.5% in the 2nd 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. Artemis Investment Management LLP purchased a new stake in shares of Embraer in the 3rd quarter worth approximately $30,358,000. Finally, Allspring Global Investments Holdings LLC increased its position 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 valued at $21,249,000 after buying an additional 59,084 shares in the last quarter. 34.65% of the stock is owned by hedge funds and other institutional investors.

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.