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

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

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. TD Cowen raised Embraer from a “hold” rating to a “buy” rating and increased their price target for the stock from $26.00 to $41.00 in a research note on Wednesday, September 4th. Bank of America raised their target price on shares of Embraer from $28.00 to $40.00 and gave the company a “buy” rating in a research note on Thursday, August 22nd. UBS Group upped their price target on shares of Embraer from $28.50 to $29.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 3rd. Finally, StockNews.com lowered 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.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $32.50.

Embraer Stock Performance

The company’s 50-day simple moving average is $30.92 and its 200-day simple moving average is $27.70. The stock has a market cap of $6.62 billion, a price-to-earnings ratio of 24.52 and a beta of 1.69. The company has a quick ratio of 0.66, a current ratio of 1.50 and a debt-to-equity ratio of 0.81.

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 analysts’ consensus estimates 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 return on equity of 5.94% and a net margin of 6.76%. Embraer’s revenue for the quarter was up 15.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.32 earnings per share. Analysts predict that Embraer S.A. will post 1.49 EPS for the current fiscal year.

Institutional Trading of Embraer

Several large investors have recently added to or reduced their stakes in ERJ. Driehaus Capital Management LLC grew its holdings in shares of Embraer by 102.5% during the second 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 in the last quarter. Simplicity Wealth LLC purchased a new position in Embraer in the first quarter valued at about $18,158,000. Nicholas Investment Partners LP increased its position in Embraer by 424.7% in the 2nd quarter. Nicholas Investment Partners LP now owns 526,494 shares of the aerospace company’s stock worth $13,584,000 after purchasing an additional 426,153 shares during the last quarter. TimesSquare Capital Management LLC acquired a new position in Embraer in the 1st quarter worth about $10,754,000. Finally, Jennison Associates LLC purchased a new stake in shares of Embraer during the 1st quarter worth about $9,818,000. 34.65% of the stock is owned by institutional investors and hedge funds.

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.