Nicholas Investment Partners LP Increases Stock Position in Embraer S.A. (NYSE:ERJ)

Nicholas Investment Partners LP lifted its position in shares of Embraer S.A. (NYSE:ERJ) by 424.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 526,494 shares of the aerospace company’s stock after purchasing an additional 426,153 shares during the period. Embraer comprises about 1.4% of Nicholas Investment Partners LP’s holdings, making the stock its 13th largest position. Nicholas Investment Partners LP owned 0.29% of Embraer worth $13,584,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. American Century Companies Inc. grew its position in Embraer by 6.4% during the 2nd quarter. American Century Companies Inc. now owns 2,304,245 shares of the aerospace company’s stock worth $59,450,000 after purchasing an additional 137,695 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position 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 acquired a new position in Embraer in the 1st quarter valued at about $18,158,000. Perpetual Ltd raised its stake in Embraer by 88.4% during the 1st quarter. Perpetual Ltd now owns 623,645 shares of the aerospace company’s stock valued at $16,614,000 after acquiring an additional 292,630 shares during the last quarter. Finally, AGF Management Ltd. lifted its position in Embraer by 6.6% during the 2nd quarter. AGF Management Ltd. now owns 497,425 shares of the aerospace company’s stock worth $12,834,000 after acquiring an additional 30,844 shares during the period. 34.65% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ERJ has been the subject of several analyst reports. StockNews.com cut Embraer from a “buy” rating to a “hold” rating in a research note on Tuesday, July 23rd. Bank of America boosted their price objective on shares of Embraer from $28.00 to $40.00 and gave the company a “buy” rating in a research note on Thursday, August 22nd. TD Cowen upgraded shares of Embraer from a “hold” rating to a “buy” rating and raised their target price for the stock from $26.00 to $41.00 in a research note on Wednesday, September 4th. Finally, UBS Group boosted their price target on shares of Embraer from $28.50 to $29.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 3rd. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, Embraer presently has an average rating of “Moderate Buy” and an average price target of $32.50.

Embraer Stock Performance

NYSE:ERJ opened at $34.82 on Thursday. The firm’s fifty day simple moving average is $30.92 and its 200-day simple moving average is $27.70. The company has a quick ratio of 0.66, a current ratio of 1.50 and a debt-to-equity ratio of 0.81. The stock has a market cap of $6.39 billion, a PE ratio of 24.18 and a beta of 1.69. Embraer S.A. has a fifty-two week low of $12.48 and a fifty-two week high of $36.02.

Embraer (NYSE:ERJ) last issued its earnings results 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 net margin of 6.76% and a return on equity of 5.94%. The company had revenue of $1.49 billion for the quarter, compared to analyst estimates of $1.44 billion. The firm’s revenue for the quarter was up 15.6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.32 earnings per share. Analysts expect that Embraer S.A. will post 1.49 earnings per share for the current fiscal year.

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.