Embraer (NYSE:ERJ) Shares Up 4.5% – Here’s What Happened

Shares of Embraer S.A. (NYSE:ERJ) shot up 4.5% on Wednesday . The stock traded as high as $33.94 and last traded at $33.94. 452,092 shares traded hands during 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

ERJ has been the subject of a number of research analyst reports. UBS Group increased their price target on Embraer from $28.50 to $29.00 and gave the company a “neutral” rating in a research note on Wednesday, July 3rd. Bank of America reaffirmed a “buy” rating and issued a $40.00 price objective on shares of Embraer in a research report on Tuesday, September 17th. TD Cowen raised shares of Embraer from a “hold” rating to a “buy” rating and boosted their target price for the stock from $26.00 to $41.00 in a research report on Wednesday, September 4th. Finally, StockNews.com lowered shares of Embraer from a “buy” rating to a “hold” rating in a research note on Tuesday, July 23rd. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $34.86.

Embraer Trading Down 0.6 %

The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.66 and a current ratio of 1.50. The company has a market cap of $6.30 billion, a price-to-earnings ratio of 23.82 and a beta of 1.69. The company’s fifty day moving average is $33.99 and its two-hundred day moving average is $29.78.

Embraer (NYSE:ERJ) last released its quarterly earnings data on Thursday, August 8th. The aerospace company reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates 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 net margin of 6.76% and a return on equity of 5.94%. The business’s quarterly revenue was up 15.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.32 earnings per share. On average, research analysts anticipate that Embraer S.A. will post 1.6 EPS for the current year.

Hedge Funds Weigh In On Embraer

Institutional investors and hedge funds have recently modified their holdings of the stock. PNC Financial Services Group Inc. purchased a new position in Embraer during the fourth quarter valued at approximately $30,000. Sunbelt Securities Inc. purchased a new position in shares of Embraer during the 2nd quarter valued at approximately $41,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Embraer during the 2nd quarter valued at approximately $44,000. Ashton Thomas Private Wealth LLC acquired a new position in shares of Embraer in the 2nd quarter valued at $55,000. Finally, Northwestern Mutual Wealth Management Co. boosted its holdings in Embraer by 25.0% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,280 shares of the aerospace company’s stock worth $59,000 after buying an additional 456 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.