Embraer-Empresa Brasileira de Aeronautica (NYSE:EMBJ) Price Target Raised to $84.00

Embraer-Empresa Brasileira de Aeronautica (NYSE:EMBJ) had its price target upped by JPMorgan Chase & Co. from $80.00 to $84.00 in a report released on Tuesday morning,Benzinga reports. The firm currently has an overweight rating on the aerospace company’s stock.

Embraer-Empresa Brasileira de Aeronautica Trading Down 13.0%

NYSE EMBJ opened at $56.66 on Tuesday. Embraer-Empresa Brasileira de Aeronautica has a 12-month low of $38.78 and a 12-month high of $80.75. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.50 and a quick ratio of 0.67. The firm has a 50-day moving average price of $71.45 and a two-hundred day moving average price of $65.40.

Institutional Investors Weigh In On Embraer-Empresa Brasileira de Aeronautica

A number of hedge funds have recently made changes to their positions in the stock. Itau Unibanco Holding S.A. grew its holdings in shares of Embraer-Empresa Brasileira de Aeronautica by 22.7% during the 2nd quarter. Itau Unibanco Holding S.A. now owns 1,172,217 shares of the aerospace company’s stock valued at $66,711,000 after purchasing an additional 217,015 shares during the last quarter. Ameriprise Financial Inc. lifted its stake in Embraer-Empresa Brasileira de Aeronautica by 20.7% in the 3rd quarter. Ameriprise Financial Inc. now owns 970,129 shares of the aerospace company’s stock valued at $58,644,000 after purchasing an additional 166,489 shares during the last quarter. Lord Abbett & CO. LLC acquired a new stake in Embraer-Empresa Brasileira de Aeronautica in the fourth quarter valued at approximately $28,696,000. Russell Investments Group Ltd. acquired a new stake in Embraer-Empresa Brasileira de Aeronautica in the fourth quarter valued at approximately $21,288,000. Finally, Bank of New York Mellon Corp bought a new stake in shares of Embraer-Empresa Brasileira de Aeronautica during the second quarter worth $11,046,000. 34.65% of the stock is currently owned by institutional investors and hedge funds.

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.