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

Embraer S.A. (NYSE:ERJ) was the recipient of a significant drop in short interest in October. As of October 15th, there was short interest totalling 5,420,000 shares, a drop of 7.5% from the September 30th total of 5,860,000 shares. Approximately 3.0% of the company’s shares are short sold. Based on an average daily trading volume, of 1,520,000 shares, the days-to-cover ratio is presently 3.6 days.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on ERJ shares. Bank of America restated a “buy” rating and set a $40.00 price objective on shares of Embraer in a research report on Tuesday, September 17th. StockNews.com lowered Embraer from a “buy” rating to a “hold” rating in a research report on Tuesday, July 23rd. TD Cowen upgraded Embraer from a “hold” rating to a “buy” rating and lifted their target price for the company from $26.00 to $41.00 in a research report on Wednesday, September 4th. Finally, UBS Group upped their price objective on shares of Embraer from $28.50 to $29.00 and gave the stock a “neutral” rating in a report on Wednesday, July 3rd. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $34.86.

Institutional Trading of Embraer

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

Embraer Stock Down 2.0 %

NYSE ERJ traded down $0.67 during trading hours on Thursday, hitting $33.52. 710,672 shares of the company were exchanged, compared to its average volume of 1,622,428. The company has a quick ratio of 0.66, a current ratio of 1.50 and a debt-to-equity ratio of 0.81. The firm has a market cap of $6.16 billion, a price-to-earnings ratio of 16.12 and a beta of 1.69. The company has a 50 day moving average of $34.44 and a two-hundred day moving average of $30.40. Embraer has a 52-week low of $13.62 and a 52-week high of $37.30.

Embraer (NYSE:ERJ) last issued its earnings results on Thursday, August 8th. The aerospace company reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.20. Embraer had a net margin of 6.76% and a return on equity of 5.94%. The firm had revenue of $1.49 billion for the quarter, compared to analysts’ expectations of $1.44 billion. During the same quarter last year, the company earned $0.32 earnings per share. The firm’s revenue was up 15.6% compared to the same quarter last year. Equities research analysts anticipate that Embraer will post 1.6 earnings per share for the current year.

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.