Embraer S.A. (NYSE:ERJ) Sees Significant Decrease in Short Interest

Embraer S.A. (NYSE:ERJ) saw a significant drop in short interest in the month of May. As of May 31st, there was short interest totalling 3,470,000 shares, a drop of 5.2% from the May 15th total of 3,660,000 shares. Based on an average daily volume of 2,000,000 shares, the short-interest ratio is presently 1.7 days. Approximately 1.9% of the shares of the company are sold short.

Institutional Trading of Embraer

Several institutional investors have recently modified their holdings of the company. Simplicity Wealth LLC acquired a new stake in Embraer in the 1st quarter valued at $18,158,000. Itau Unibanco Holding S.A. raised its position in shares of Embraer by 69.3% during the third quarter. Itau Unibanco Holding S.A. now owns 1,431,059 shares of the aerospace company’s stock worth $19,634,000 after acquiring an additional 586,027 shares during the last quarter. TimesSquare Capital Management LLC bought a new stake in shares of Embraer during the first quarter worth $10,754,000. Jennison Associates LLC bought a new stake in shares of Embraer during the first quarter worth $9,818,000. Finally, Ramirez Asset Management Inc. bought a new stake in shares of Embraer during the third quarter worth $4,137,000. Institutional investors and hedge funds own 34.65% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on ERJ. StockNews.com lowered Embraer from a “buy” rating to a “hold” rating in a report on Monday, June 3rd. Morgan Stanley raised their price target on Embraer from $19.50 to $40.00 and gave the company an “overweight” rating in a report on Thursday, March 14th. The Goldman Sachs Group lifted their target price on Embraer from $21.00 to $35.00 and gave the stock a “buy” rating in a report on Friday, March 22nd. JPMorgan Chase & Co. lifted their target price on Embraer from $21.00 to $40.00 and gave the stock an “overweight” rating in a report on Friday, March 22nd. Finally, UBS Group reiterated a “neutral” rating and issued a $28.50 price target (up previously from $21.00) on shares of Embraer in a research report on Tuesday, March 26th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $29.75.

Embraer Stock Up 0.1 %

Shares of ERJ stock opened at $27.76 on Tuesday. The stock’s 50 day simple moving average is $27.20 and its 200 day simple moving average is $22.49. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.51 and a quick ratio of 0.71. Embraer has a twelve month low of $12.48 and a twelve month high of $31.12.

Embraer (NYSE:ERJ) last issued its quarterly earnings results on Tuesday, May 7th. The aerospace company reported ($0.07) EPS for the quarter, topping the consensus estimate of ($0.12) by $0.05. Embraer had a return on equity of 5.35% and a net margin of 4.84%. The company had revenue of $896.60 million for the quarter, compared to the consensus estimate of $883.92 million. As a group, equities research analysts forecast that Embraer will post 1.47 EPS for the current fiscal year.

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.