Embraer (NYSE:ERJ) Shares Gap Down – Here’s Why

Embraer S.A. (NYSE:ERJ) gapped down prior to trading on Tuesday . The stock had previously closed at $38.81, but opened at $36.90. Embraer shares last traded at $37.06, with a volume of 538,536 shares traded.

Wall Street Analyst Weigh In

A number of research analysts have commented on ERJ shares. UBS Group downgraded Embraer from a “neutral” rating to a “sell” rating and boosted their target price for the company from $29.00 to $32.00 in a research note on Tuesday. Bank of America restated a “buy” rating and issued a $40.00 target price on shares of Embraer in a report on Tuesday, September 17th. Finally, TD Cowen upgraded Embraer from a “hold” rating to a “buy” rating and increased their price target for the company from $26.00 to $41.00 in a report on Wednesday, September 4th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $35.29.

Embraer Trading Down 0.5 %

The company has a market capitalization of $6.89 billion, a P/E ratio of 13.79 and a beta of 1.70. The company has a 50-day simple moving average of $35.26 and a 200 day simple moving average of $31.59. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.76 and a current ratio of 1.56.

Hedge Funds Weigh In On Embraer

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Virtu Financial LLC grew its position in Embraer by 164.4% in the 3rd quarter. Virtu Financial LLC now owns 37,082 shares of the aerospace company’s stock worth $1,312,000 after purchasing an additional 23,056 shares during the last quarter. Dorsey Wright & Associates lifted its stake in shares of Embraer by 13.5% in the third quarter. Dorsey Wright & Associates now owns 146,873 shares of the aerospace company’s stock valued at $5,195,000 after buying an additional 17,484 shares during the period. Orion Portfolio Solutions LLC grew its position in Embraer by 2.9% during the third quarter. Orion Portfolio Solutions LLC now owns 44,174 shares of the aerospace company’s stock worth $1,562,000 after buying an additional 1,241 shares in the last quarter. XTX Topco Ltd bought a new position in Embraer during the third quarter valued at about $1,203,000. Finally, State Street Corp raised its holdings in Embraer by 1.3% in the 3rd quarter. State Street Corp now owns 368,662 shares of the aerospace company’s stock valued at $13,040,000 after acquiring an additional 4,666 shares in the last quarter. 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.