Embraer (NYSE:ERJ) Reaches New 52-Week High – Time to Buy?

Shares of Embraer S.A. (NYSE:ERJ) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $56.61 and last traded at $56.40, with a volume of 2891485 shares changing hands. The stock had previously closed at $55.20.

Analysts Set New Price Targets

ERJ has been the topic of several recent research reports. Bank of America increased their target price on Embraer from $40.00 to $55.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. The Goldman Sachs Group raised their target price on Embraer from $44.00 to $50.00 and gave the stock a “buy” rating in a research note on Monday, March 3rd. StockNews.com lowered Embraer from a “buy” rating to a “hold” rating in a report on Monday, March 10th. Finally, TD Cowen raised shares of Embraer to a “strong-buy” rating in a report on Thursday, December 19th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $43.60.

Embraer Stock Up 2.2 %

The stock has a 50-day moving average of $44.21 and a 200-day moving average of $38.83. 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 company has a market cap of $10.36 billion, a PE ratio of 20.73 and a beta of 1.70.

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

Hedge Funds Weigh In On Embraer

A number of hedge funds and other institutional investors have recently bought and sold shares of ERJ. Carrhae Capital LLP raised its position in shares of Embraer by 48.1% during the 4th quarter. Carrhae Capital LLP now owns 2,670,740 shares of the aerospace company’s stock valued at $97,963,000 after buying an additional 866,919 shares in the last quarter. Gilder Gagnon Howe & Co. LLC raised its position in Embraer by 19.0% during the fourth quarter. Gilder Gagnon Howe & Co. LLC now owns 2,439,060 shares of the aerospace company’s stock valued at $89,465,000 after purchasing an additional 390,094 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its position in Embraer by 8.7% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,210,060 shares of the aerospace company’s stock valued at $81,065,000 after purchasing an additional 176,182 shares in the last quarter. Jennison Associates LLC lifted its stake in Embraer by 102.1% during the third quarter. Jennison Associates LLC now owns 1,331,631 shares of the aerospace company’s stock worth $47,100,000 after purchasing an additional 672,644 shares during the last quarter. Finally, Invesco Ltd. boosted its holdings in shares of Embraer by 17,140.6% in the 4th quarter. Invesco Ltd. now owns 1,235,635 shares of the aerospace company’s stock worth $45,323,000 after purchasing an additional 1,228,468 shares in the last quarter. Hedge funds and other institutional investors own 34.65% of the company’s stock.

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.