Embraer S.A. (NYSE:ERJ – Get Rating) shares reached a new 52-week high during trading on Wednesday after Citigroup raised their price target on the stock from $15.75 to $16.50. The stock traded as high as $16.81 and last traded at $16.77, with a volume of 416156 shares trading hands. The stock had previously closed at $16.43.
Other equities analysts have also recently issued reports about the company. StockNews.com raised Embraer from a “sell” rating to a “hold” rating in a report on Monday. The Goldman Sachs Group upped their target price on Embraer from $18.00 to $20.00 and gave the company a “buy” rating in a research note on Tuesday, April 11th. Finally, Bank of America dropped their price target on Embraer from $27.00 to $24.00 and set a “buy” rating for the company in a research note on Wednesday, March 29th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, Embraer currently has an average rating of “Moderate Buy” and a consensus price target of $19.17.
Institutional Investors Weigh In On Embraer
Several institutional investors have recently bought and sold shares of ERJ. Brandes Investment Partners LP grew its stake in shares of Embraer by 17.6% in the 1st quarter. Brandes Investment Partners LP now owns 18,484,175 shares of the aerospace company’s stock worth $302,586,000 after purchasing an additional 2,764,894 shares during the last quarter. Renaissance Technologies LLC lifted its stake in Embraer by 148.1% during the first quarter. Renaissance Technologies LLC now owns 2,869,400 shares of the aerospace company’s stock valued at $36,183,000 after purchasing an additional 1,712,800 shares during the last quarter. Arrowstreet Capital Limited Partnership acquired a new stake in Embraer during the fourth quarter valued at approximately $14,576,000. Mangrove Partners acquired a new stake in Embraer during the fourth quarter valued at approximately $14,162,000. Finally, Canada Pension Plan Investment Board lifted its stake in Embraer by 3,184.0% during the third quarter. Canada Pension Plan Investment Board now owns 1,274,200 shares of the aerospace company’s stock valued at $10,958,000 after purchasing an additional 1,235,400 shares during the last quarter. Institutional investors and hedge funds own 37.89% of the company’s stock.
Embraer Trading Up 2.3 %
Embraer (NYSE:ERJ – Get Rating) last announced its earnings results on Thursday, May 4th. The aerospace company reported ($0.48) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.45). The company had revenue of $716.70 million for the quarter, compared to analysts’ expectations of $701.45 million. Embraer had a negative net margin of 0.08% and a positive return on equity of 0.65%. Equities analysts forecast that Embraer S.A. will post 1.03 earnings per share for the current year.
Embraer Company Profile
Embraer SA engages in the design, manufacture, and sale of aircraft and its parts for commercial, defense, and executive aviation sectors. It operates through the following segments: Commercial Aviation, Defense and Security, Executive Jet Business, Service & Support and Others. The Commercial Aviation segment is involved in the development, production, and sale of commercial jets; and the provision of support services to regional aviation and aircraft leasing.
Further Reading
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