Embraer (NYSE:ERJ) Shares Gap Down – Here’s Why

Embraer S.A. (NYSE:ERJ) shares gapped down before the market opened on Tuesday . The stock had previously closed at $46.20, but opened at $45.22. Embraer shares last traded at $45.56, with a volume of 238,852 shares traded.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Wolfe Research restated a “peer perform” rating on shares of Embraer in a report on Monday, March 24th. The Goldman Sachs Group boosted their price target on shares of Embraer from $44.00 to $50.00 and gave the stock a “buy” rating in a research report on Monday, March 3rd. StockNews.com cut shares of Embraer from a “buy” rating to a “hold” rating in a research note on Monday, March 10th. Finally, TD Cowen raised shares of Embraer to a “strong-buy” rating in a research note on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $44.50.

Embraer Trading Down 0.2 %

The company has a quick ratio of 0.76, a current ratio of 1.56 and a debt-to-equity ratio of 0.74. The stock has a market capitalization of $8.47 billion, a price-to-earnings ratio of 16.94 and a beta of 1.70. The company’s 50-day moving average is $45.91 and its 200-day moving average is $39.68.

Embraer (NYSE:ERJ) last released its quarterly earnings results on Thursday, February 27th. The aerospace company reported $0.94 EPS for the quarter, beating the consensus estimate of $0.47 by $0.47. The firm had revenue of $2.31 billion for the quarter, compared to analyst estimates of $2.21 billion. Embraer had a net margin of 8.24% and a return on equity of 11.61%. Research analysts anticipate that Embraer S.A. will post 2.04 earnings per share for the current fiscal year.

Institutional Trading of Embraer

Institutional investors and hedge funds have recently bought and sold shares of the stock. Thrivent Financial for Lutherans purchased a new stake in shares of Embraer in the 3rd quarter valued at approximately $981,000. Citigroup Inc. raised its position in Embraer by 2.9% in the third quarter. Citigroup Inc. now owns 117,605 shares of the aerospace company’s stock valued at $4,160,000 after purchasing an additional 3,354 shares during the period. Townsquare Capital LLC lifted its stake in Embraer by 1.2% during the third quarter. Townsquare Capital LLC now owns 26,007 shares of the aerospace company’s stock worth $920,000 after purchasing an additional 310 shares in the last quarter. Paloma Partners Management Co purchased a new position in shares of Embraer during the third quarter worth $753,000. Finally, Itau Unibanco Holding S.A. grew its stake in shares of Embraer by 54.8% in the third quarter. Itau Unibanco Holding S.A. now owns 1,112,314 shares of the aerospace company’s stock valued at $39,343,000 after buying an additional 393,696 shares in the last quarter. 34.65% of the stock is currently owned by hedge funds and other institutional investors.

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.