Embraer (NYSE:ERJ) Hits New 12-Month High Following Earnings Beat

Shares of Embraer S.A. (NYSE:ERJ - Get Free Report) hit a new 52-week high on Friday after the company announced better than expected quarterly earnings. The company traded as high as $48.40 and last traded at $47.51, with a volume of 6887154 shares changing hands. The stock had previously closed at $42.89.

The aerospace company reported $0.94 EPS for the quarter, beating analysts' consensus estimates of $0.47 by $0.47. Embraer had a return on equity of 11.61% and a net margin of 8.24%. The firm had revenue of $2.31 billion for the quarter, compared to the consensus estimate of $2.21 billion.

Analysts Set New Price Targets

Several equities analysts recently weighed in on ERJ shares. TD Cowen raised shares of Embraer to a "strong-buy" rating in a research report on Thursday, December 19th. The Goldman Sachs Group lifted their price objective on shares of Embraer from $44.00 to $50.00 and gave the company a "buy" rating in a research note on Monday. Bank of America raised their target price on Embraer from $40.00 to $55.00 and gave the company a "buy" rating in a report on Thursday, November 21st. StockNews.com raised Embraer from a "hold" rating to a "buy" rating in a report on Sunday. Finally, UBS Group downgraded Embraer from a "neutral" rating to a "sell" rating and raised their price objective for the company from $29.00 to $32.00 in a research note on Tuesday, November 19th. One analyst has rated the stock with a sell rating, five have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $43.00.

Hedge Funds Weigh In On Embraer

Several large investors have recently made changes to their positions in the business. Ballentine Partners LLC increased its position in Embraer by 4.0% in the 4th quarter. Ballentine Partners LLC now owns 7,614 shares of the aerospace company's stock worth $279,000 after buying an additional 296 shares during the period. Townsquare Capital LLC increased its position 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 acquiring an additional 310 shares during the period. Angeles Investment Advisors LLC raised its stake in Embraer by 3.0% during the 3rd quarter. Angeles Investment Advisors LLC now owns 11,753 shares of the aerospace company's stock valued at $416,000 after purchasing an additional 338 shares during the last quarter. LVW Advisors LLC boosted its holdings in Embraer by 3.3% in the 4th quarter. LVW Advisors LLC now owns 10,660 shares of the aerospace company's stock valued at $391,000 after purchasing an additional 340 shares during the period. Finally, Lindbrook Capital LLC grew its position in Embraer by 32.9% in the 4th quarter. Lindbrook Capital LLC now owns 1,572 shares of the aerospace company's stock worth $58,000 after purchasing an additional 389 shares during the last quarter. Institutional investors and hedge funds own 34.65% of the company's stock.

Embraer Trading Up 5.1 %

The company has a debt-to-equity ratio of 0.74, a current ratio of 1.56 and a quick ratio of 0.76. The firm has a market cap of $9.20 billion, a P/E ratio of 18.44 and a beta of 1.71. The company's 50 day moving average is $40.25 and its two-hundred day moving average is $37.12.

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.