Embraer-Empresa Brasileira de Aeronautica (NYSE:EMBJ) Shares Break Above 200-Day Moving Average – Here’s What Happened

Embraer-Empresa Brasileira de Aeronautica (NYSE:EMBJ) shares crossed above its 200-day moving average during trading on Friday. The stock has a 200-day moving average of $66.89 and traded as high as $73.25. Embraer-Empresa Brasileira de Aeronautica shares last traded at $72.20, with a volume of 790,215 shares changing hands.

Analysts Set New Price Targets

EMBJ has been the topic of a number of recent analyst reports. Weiss Ratings upgraded Embraer-Empresa Brasileira de Aeronautica from a “hold (c+)” rating to a “buy (b)” rating in a research note on Friday, October 9th. Zacks Research upgraded Embraer-Empresa Brasileira de Aeronautica from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, September 29th. Wall Street Zen raised shares of Embraer-Empresa Brasileira de Aeronautica from a “buy” rating to a “strong-buy” rating in a research note on Sunday, August 23rd. Finally, JPMorgan Chase & Co. boosted their target price on shares of Embraer-Empresa Brasileira de Aeronautica from $80.00 to $104.00 and gave the company an “overweight” rating in a research note on Friday, August 14th. One research analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $92.50.

Embraer-Empresa Brasileira de Aeronautica Stock Up 0.1%

The company’s 50 day moving average price is $74.41 and its two-hundred day moving average price is $66.89. The company has a quick ratio of 0.72, a current ratio of 1.44 and a debt-to-equity ratio of 0.61. The stock has a market cap of $13.05 billion, a P/E ratio of 29.23, a P/E/G ratio of 1.60 and a beta of 1.40.

Hedge Funds Weigh In On Embraer-Empresa Brasileira de Aeronautica

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Bullock Wealth Management Group bought a new position in Embraer-Empresa Brasileira de Aeronautica during the 3rd quarter worth about $29,000. Ascentis Independent Advisors purchased a new position in Embraer-Empresa Brasileira de Aeronautica during the first quarter valued at approximately $27,000. GAMMA Investing LLC purchased a new position in Embraer-Empresa Brasileira de Aeronautica during the third quarter valued at approximately $66,000. Farther Finance Advisors LLC bought a new position in Embraer-Empresa Brasileira de Aeronautica in the third quarter worth approximately $300,000. Finally, Nykredit A S bought a new position in Embraer-Empresa Brasileira de Aeronautica in the second quarter worth approximately $422,000. Institutional investors own 34.65% of the company’s stock.

About Embraer-Empresa Brasileira de Aeronautica

Embraer SA, formerly known as Empresa Brasileira de Aeronáutica, is a Brazilian aerospace company that designs, develops, manufactures and supports aircraft and related systems. Founded in 1969 and headquartered in São José dos Campos, Brazil, the company serves commercial, business aviation, defense and security, and agricultural aviation markets.

In commercial aviation, Embraer produces the E-Jets family, including the E2 series of small- and medium-sized passenger aircraft. Its executive aviation portfolio includes the Phenom and Praetor business jet families.