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

Embraer S.A. (NYSE:ERJ) was the target of a large drop in short interest in the month of October. As of October 15th, there was short interest totalling 5,420,000 shares, a drop of 7.5% from the September 30th total of 5,860,000 shares. Currently, 3.0% of the company’s shares are sold short. Based on an average daily volume of 1,520,000 shares, the days-to-cover ratio is currently 3.6 days.

Embraer Trading Down 0.5 %

ERJ traded down $0.16 during midday trading on Friday, reaching $33.36. The company’s stock had a trading volume of 852,172 shares, compared to its average volume of 1,618,796. The company has a fifty day simple moving average of $34.44 and a 200 day simple moving average of $30.40. 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 twelve month low of $14.43 and a twelve month high of $37.30.

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

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on ERJ shares. StockNews.com lowered 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 price objective on shares of Embraer in a research note on Tuesday, September 17th. Finally, TD Cowen raised Embraer from a “hold” rating to a “buy” rating and raised their price target for the stock from $26.00 to $41.00 in a research note on Wednesday, September 4th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $34.86.

Institutional Trading of Embraer

Several institutional investors have recently modified their holdings of the company. Brendel Financial Advisors LLC acquired a new stake in Embraer in the 3rd quarter valued at $202,000. SteelPeak Wealth LLC bought a new position in Embraer in the 2nd quarter valued at $443,000. SG Americas Securities LLC bought a new position in Embraer in the 2nd quarter valued at $2,458,000. Atria Investments Inc bought a new position in Embraer in the 1st quarter valued at $1,671,000. Finally, Blue Trust Inc. raised its position in Embraer by 35.7% in the 2nd quarter. Blue Trust Inc. now owns 11,758 shares of the aerospace company’s stock valued at $313,000 after purchasing an additional 3,091 shares during the last quarter. Institutional investors and hedge funds 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.