Seven Eight Capital LP Invests $268,000 in Embraer S.A. (NYSE:ERJ)

Seven Eight Capital LP bought a new stake in Embraer S.A. (NYSE:ERJ) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 10,051 shares of the aerospace company’s stock, valued at approximately $268,000.

Other hedge funds also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC grew its holdings in Embraer by 8.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 797,646 shares of the aerospace company’s stock worth $21,249,000 after purchasing an additional 59,084 shares during the period. Simplicity Wealth LLC bought a new position in Embraer during the 1st quarter valued at approximately $18,158,000. Perpetual Ltd raised its stake in Embraer by 88.4% during the first quarter. Perpetual Ltd now owns 623,645 shares of the aerospace company’s stock valued at $16,614,000 after buying an additional 292,630 shares during the last quarter. Wells Fargo & Company MN boosted its holdings in Embraer by 2.2% in the fourth quarter. Wells Fargo & Company MN now owns 465,345 shares of the aerospace company’s stock worth $8,586,000 after acquiring an additional 9,809 shares in the last quarter. Finally, TimesSquare Capital Management LLC purchased a new stake in shares of Embraer in the first quarter worth $10,754,000. 34.65% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on ERJ. UBS Group upped their price target on shares of Embraer from $28.50 to $29.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 3rd. StockNews.com downgraded shares of Embraer from a “buy” rating to a “hold” rating in a research note on Tuesday. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $29.83.

Embraer Stock Up 1.5 %

Embraer stock opened at $29.35 on Thursday. Embraer S.A. has a one year low of $12.48 and a one year high of $31.27. The stock has a fifty day moving average of $28.44 and a 200 day moving average of $24.30. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.71 and a current ratio of 1.51. The stock has a market cap of $5.39 billion, a PE ratio of 20.10 and a beta of 1.71.

Embraer (NYSE:ERJ) last posted its quarterly earnings data on Tuesday, May 7th. The aerospace company reported ($0.07) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.05. The company had revenue of $896.60 million for the quarter, compared to the consensus estimate of $883.92 million. Embraer had a net margin of 4.84% and a return on equity of 5.35%. As a group, sell-side analysts predict that Embraer S.A. will post 1.3 EPS for the current year.

Embraer 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.