Short Interest in Embraer S.A. (NYSE:ERJ) Declines By 7.5%

Embraer S.A. (NYSE:ERJ) saw a large decline in short interest in 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. Based on an average daily volume of 1,520,000 shares, the short-interest ratio is currently 3.6 days. Approximately 3.0% of the shares of the stock are sold short.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. StockNews.com lowered shares of Embraer from a “buy” rating to a “hold” rating in a research report on Tuesday, July 23rd. Bank of America reissued a “buy” rating and issued a $40.00 target price on shares of Embraer in a research note on Tuesday, September 17th. Finally, TD Cowen upgraded Embraer from a “hold” rating to a “buy” rating and upped their price target for the stock from $26.00 to $41.00 in a report on Wednesday, September 4th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, Embraer currently has a consensus rating of “Moderate Buy” and a consensus price target of $34.86.

Institutional Investors Weigh In On Embraer

Several large investors have recently added to or reduced their stakes in ERJ. PNC Financial Services Group Inc. acquired a new stake in Embraer in the fourth quarter worth $30,000. Sunbelt Securities Inc. acquired a new position in shares of Embraer during the second quarter valued at $41,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Embraer during the second quarter valued at $44,000. Ashton Thomas Private Wealth LLC acquired a new position in shares of Embraer during the second quarter valued at $55,000. Finally, Northwestern Mutual Wealth Management Co. increased its holdings in shares of Embraer by 25.0% during the second 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 during the period. 34.65% of the stock is owned by institutional investors and hedge funds.

Embraer Stock Performance

Shares of ERJ stock traded down $0.16 on Friday, hitting $33.36. 852,172 shares of the stock traded hands, compared to its average volume of 1,618,796. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.66 and a current ratio of 1.50. Embraer has a 1-year low of $14.43 and a 1-year high of $37.30. The company’s fifty day moving average is $34.44 and its 200 day moving average is $30.40.

Embraer (NYSE:ERJ) last posted its quarterly earnings results on Thursday, August 8th. The aerospace company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.20. The business had revenue of $1.49 billion for the quarter, compared to analyst estimates of $1.44 billion. Embraer had a return on equity of 5.94% and a net margin of 6.76%. The business’s revenue was up 15.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.32 EPS. As a group, research analysts anticipate that Embraer will post 1.6 earnings per share 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.