The Boeing Company (NYSE:BA) Short Interest Update

The Boeing Company (NYSE:BA) saw a large decline in short interest in March. As of March 31st, there was short interest totalling 9,290,000 shares, a decline of 14.1% from the March 15th total of 10,810,000 shares. Based on an average daily trading volume, of 10,180,000 shares, the short-interest ratio is currently 0.9 days.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Melius Research reissued a “hold” rating on shares of Boeing in a research note on Monday, April 1st. UBS Group dropped their price objective on shares of Boeing from $275.00 to $250.00 and set a “buy” rating for the company in a research note on Thursday, March 21st. Morgan Stanley decreased their target price on shares of Boeing from $235.00 to $180.00 and set an “equal weight” rating on the stock in a research note on Wednesday. Edward Jones downgraded Boeing from a “buy” rating to a “hold” rating in a report on Monday, January 8th. Finally, Royal Bank of Canada lowered their target price on Boeing from $285.00 to $260.00 and set an “outperform” rating for the company in a report on Thursday, February 1st. Nine research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $236.53.

Institutional Investors Weigh In On Boeing

A number of hedge funds have recently added to or reduced their stakes in the company. Beech Hill Advisors Inc. lifted its stake in shares of Boeing by 1.6% in the first quarter. Beech Hill Advisors Inc. now owns 9,632 shares of the aircraft producer’s stock valued at $1,859,000 after buying an additional 155 shares in the last quarter. Evanson Asset Management LLC boosted its stake in Boeing by 2.3% during the 1st quarter. Evanson Asset Management LLC now owns 4,378 shares of the aircraft producer’s stock valued at $864,000 after purchasing an additional 100 shares during the last quarter. Mechanics Bank Trust Department bought a new stake in Boeing during the 1st quarter worth approximately $1,760,000. Jacobs & Co. CA lifted its holdings in shares of Boeing by 6.6% in the first quarter. Jacobs & Co. CA now owns 60,470 shares of the aircraft producer’s stock valued at $11,670,000 after purchasing an additional 3,737 shares in the last quarter. Finally, Wealth Management Partners LLC purchased a new position in shares of Boeing during the first quarter valued at approximately $372,000. Institutional investors and hedge funds own 64.82% of the company’s stock.

Boeing Trading Down 2.2 %

NYSE BA traded down $3.81 during trading hours on Friday, hitting $169.55. 7,568,297 shares of the company’s stock were exchanged, compared to its average volume of 7,577,862. Boeing has a 1-year low of $169.37 and a 1-year high of $267.54. The stock has a 50-day simple moving average of $194.23 and a 200 day simple moving average of $208.02. The firm has a market cap of $103.45 billion, a price-to-earnings ratio of -46.07, a PEG ratio of 66.57 and a beta of 1.52.

Boeing (NYSE:BA) last posted its quarterly earnings results on Wednesday, January 31st. The aircraft producer reported ($0.47) EPS for the quarter, topping analysts’ consensus estimates of ($0.72) by $0.25. The company had revenue of $22.02 billion during the quarter, compared to analyst estimates of $21.14 billion. The company’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($1.75) earnings per share. On average, sell-side analysts anticipate that Boeing will post 0.37 earnings per share for the current fiscal year.

Boeing Company Profile

The Boeing Company, together with its subsidiaries, designs, develops, manufactures, sells, services, and supports commercial jetliners, military aircraft, satellites, missile defense, human space flight and launch systems, and services worldwide. The company operates through Commercial Airplanes; Defense, Space & Security; and Global Services segments.