Chesapeake Capital Corp IL Cuts Holdings in Embraer S.A. (NYSE:ERJ)

Chesapeake Capital Corp IL lessened its holdings in Embraer S.A. (NYSE:ERJ) by 51.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,348 shares of the aerospace company’s stock after selling 17,298 shares during the quarter. Chesapeake Capital Corp IL’s holdings in Embraer were worth $422,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in ERJ. Allspring Global Investments Holdings LLC raised its stake in Embraer by 8.0% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 797,646 shares of the aerospace company’s stock valued at $21,249,000 after acquiring an additional 59,084 shares during the period. Simplicity Wealth LLC purchased a new stake in Embraer during the first quarter valued at $18,158,000. Perpetual Ltd lifted its position 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 purchasing an additional 292,630 shares in the last quarter. Wells Fargo & Company MN raised its position in shares of Embraer by 2.2% during the 4th quarter. Wells Fargo & Company MN now owns 465,345 shares of the aerospace company’s stock valued at $8,586,000 after purchasing an additional 9,809 shares during the period. Finally, TimesSquare Capital Management LLC purchased a new stake in Embraer in the 1st quarter worth $10,754,000. Hedge funds and other institutional investors own 34.65% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on ERJ. UBS Group raised their price target on Embraer from $28.50 to $29.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 3rd. StockNews.com lowered shares of Embraer from a “buy” rating to a “hold” rating in a report on Tuesday, July 23rd. Bank of America upped their target price on Embraer from $28.00 to $40.00 and gave the company a “buy” rating in a research report on Thursday, August 22nd. Finally, TD Cowen raised shares of 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 report on Wednesday, September 4th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $32.50.

Embraer Stock Up 1.7 %

Embraer stock opened at $34.37 on Tuesday. Embraer S.A. has a 52 week low of $12.48 and a 52 week high of $36.02. The firm has a market cap of $6.31 billion, a price-to-earnings ratio of 23.87 and a beta of 1.69. The business’s 50-day moving average price is $30.60 and its 200 day moving average price is $27.54. The company has a quick ratio of 0.66, a current ratio of 1.50 and a debt-to-equity ratio of 0.81.

Embraer (NYSE:ERJ) last posted its earnings results on Thursday, August 8th. The aerospace company reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.20. Embraer had a net margin of 6.76% and a return on equity of 5.94%. The firm had revenue of $1.49 billion during the quarter, compared to analyst estimates of $1.44 billion. During the same period in the previous year, the firm earned $0.32 EPS. The business’s quarterly revenue was up 15.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Embraer S.A. will post 1.49 earnings per share for the current year.

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.