Embraer S.A. (NYSE:ERJ) Sees Large Drop in Short Interest

by · The Cerbat Gem

Embraer S.A. (NYSE:ERJ – Get Free Report) saw a significant decline in short interest during the month of October. As of October 15th, there was short interest totalling 5,420,000 shares, a decline of 7.5% from the September 30th total of 5,860,000 shares. Currently, 3.0% of the shares of the stock are short sold. Based on an average daily volume of 1,520,000 shares, the short-interest ratio is currently 3.6 days.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on ERJ. Bank of America restated a “buy” rating and set a $40.00 target price on shares of Embraer in a research report on Tuesday, September 17th. TD Cowen upgraded Embraer from a “hold” rating to a “buy” rating and lifted their target price for the stock from $26.00 to $41.00 in a report on Wednesday, September 4th. StockNews.com downgraded Embraer from a “buy” rating to a “hold” rating in a research report on Tuesday, July 23rd. Finally, UBS Group lifted their price objective 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. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, Embraer currently has an average rating of “Moderate Buy” and a consensus price target of $34.86.

Read Our Latest Report on ERJ

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. PNC Financial Services Group Inc. purchased a new stake in shares of Embraer in the 4th quarter worth $30,000. Sunbelt Securities Inc. purchased a new stake in Embraer in the second quarter worth about $41,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in Embraer during the 2nd quarter worth about $44,000. Ashton Thomas Private Wealth LLC purchased a new position in Embraer during the 2nd quarter valued at about $55,000. Finally, Northwestern Mutual Wealth Management Co. raised its holdings in shares of Embraer by 25.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,280 shares of the aerospace company’s stock valued at $59,000 after purchasing an additional 456 shares in the last quarter. Institutional investors own 34.65% of the company’s stock.

Embraer Trading Down 2.0 %

Shares of NYSE:ERJ traded down $0.67 on Thursday, hitting $33.52. 710,672 shares of the company’s stock were exchanged, compared to its average volume of 1,622,428. The stock has a market capitalization of $6.16 billion, a price-to-earnings ratio of 16.12 and a beta of 1.69. Embraer has a 12 month low of $13.62 and a 12 month high of $37.30. 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 business’s 50 day simple moving average is $34.44 and its two-hundred day simple moving average is $30.40.

Embraer (NYSE:ERJ – Get Free Report) last announced its quarterly earnings data on Thursday, August 8th. The aerospace company reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.24 by $0.20. The company had revenue of $1.49 billion during 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 firm’s revenue for the quarter was up 15.6% on a year-over-year basis. During the same quarter last year, the business posted $0.32 EPS. Analysts anticipate that Embraer will post 1.6 EPS for the current fiscal year.

About Embraer

(Get Free Report)

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.

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