Embraer-Empresa Brasileira de Aeronautica (NYSE:EMBJ) Share Price Passes Above Two Hundred Day Moving Average – Here’s What Happened

Embraer-Empresa Brasileira de Aeronautica (NYSE:EMBJ)’s share price crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $65.18 and traded as high as $69.65. Embraer-Empresa Brasileira de Aeronautica shares last traded at $66.44, with a volume of 1,551,141 shares.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. increased their price objective on shares of Embraer-Empresa Brasileira de Aeronautica from $79.00 to $80.00 and gave the company an “overweight” rating in a research report on Friday, November 7th. Six analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Embraer-Empresa Brasileira de Aeronautica currently has an average rating of “Moderate Buy” and an average price target of $63.86.

Embraer-Empresa Brasileira de Aeronautica Trading Down 6.0%

The firm has a fifty day simple moving average of $71.69 and a 200-day simple moving average of $65.18. The company has a current ratio of 1.43, a quick ratio of 0.67 and a debt-to-equity ratio of 0.55.

Embraer-Empresa Brasileira de Aeronautica declared that its Board of Directors has approved a stock repurchase program on Thursday, November 6th that authorizes the company to buyback 0 outstanding shares. This buyback authorization authorizes the aerospace company to reacquire shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the company. Itau Unibanco Holding S.A. bought a new stake in Embraer-Empresa Brasileira de Aeronautica during the fourth quarter valued at $68,460,000. Lord Abbett & CO. LLC bought a new stake in shares of Embraer-Empresa Brasileira de Aeronautica during the 4th quarter valued at about $28,696,000. Russell Investments Group Ltd. acquired a new stake in Embraer-Empresa Brasileira de Aeronautica during the fourth quarter worth about $21,288,000. Bank of New York Mellon Corp bought a new position in Embraer-Empresa Brasileira de Aeronautica in the second quarter worth about $11,046,000. Finally, Ameriprise Financial Inc. lifted its holdings in Embraer-Empresa Brasileira de Aeronautica by 20.7% in the third quarter. Ameriprise Financial Inc. now owns 970,129 shares of the aerospace company’s stock worth $58,644,000 after acquiring an additional 166,489 shares during the last quarter. Institutional investors own 34.65% of the company’s stock.

Embraer-Empresa Brasileira de Aeronautica Company Profile

Embraer SA (NYSE:EMBJ), legally known as Embraer – Empresa Brasileira de Aeronáutica SA, is a global aerospace company headquartered in São José dos Campos, Brazil. The company designs, develops, manufactures and sells commercial, executive, defence and agricultural aircraft. Embraer’s product portfolio includes the popular E-Jets family for regional and short-haul carriers, the advanced E2 series, a range of business jets under the Phenom, Legacy and Praetor brands, the A-29 Super Tucano military trainer and light attack aircraft, the C-390 Millennium multi-mission transport platform, and the Ipanema agricultural aircraft.

Embraer’s commercial aviation segment focuses on regional airlines and air taxi operators, offering aircraft that seat between 70 and 150 passengers.