Embraer (NYSE:ERJ) Shares Gap Down - Here's What Happened

Embraer S.A. (NYSE:ERJ - Get Free Report) gapped down prior to trading on Tuesday . The stock had previously closed at $46.20, but opened at $45.22. Embraer shares last traded at $45.56, with a volume of 238,852 shares.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. The Goldman Sachs Group lifted their price target on Embraer from $44.00 to $50.00 and gave the company a "buy" rating in a research report on Monday, March 3rd. TD Cowen upgraded Embraer to a "strong-buy" rating in a report on Thursday, December 19th. StockNews.com downgraded Embraer from a "buy" rating to a "hold" rating in a research report on Monday, March 10th. Finally, Wolfe Research reiterated a "peer perform" rating on shares of Embraer in a research report on Monday, March 24th. One analyst has rated the stock with a sell rating, two have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Embraer presently has an average rating of "Moderate Buy" and an average price target of $44.50.

Embraer Stock Performance

The company has a market cap of $8.30 billion, a PE ratio of 16.61 and a beta of 1.70. The business has a fifty day moving average of $46.17 and a 200-day moving average of $39.83. The company has a current ratio of 1.56, a quick ratio of 0.76 and a debt-to-equity ratio of 0.74.

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Embraer (NYSE:ERJ - Get Free Report) last released its quarterly earnings results on Thursday, February 27th. The aerospace company reported $0.94 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.47. Embraer had a net margin of 8.24% and a return on equity of 11.61%. The business had revenue of $2.31 billion for the quarter, compared to analysts' expectations of $2.21 billion. Equities research analysts anticipate 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 institutional investors have recently bought and sold shares of the stock. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Embraer by 39.2% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 24,212 shares of the aerospace company's stock worth $888,000 after acquiring an additional 6,822 shares during the period. Employees Retirement System of Texas raised its holdings in Embraer by 9.5% in the fourth quarter. Employees Retirement System of Texas now owns 37,900 shares of the aerospace company's stock worth $1,390,000 after purchasing an additional 3,300 shares in the last quarter. Public Employees Retirement System of Ohio bought a new position in Embraer in the fourth quarter worth $5,042,000. Ulysses Management LLC purchased a new position in Embraer during the fourth quarter valued at $2,017,000. Finally, Two Sigma Investments LP boosted its holdings in shares of Embraer by 27.4% during the 4th quarter. Two Sigma Investments LP now owns 506,051 shares of the aerospace company's stock valued at $18,562,000 after buying an additional 108,740 shares in the last quarter. 34.65% of the stock is owned by institutional investors.

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.