Boeing (NYSE:BA) Shares Gap Up to $169.18

The Boeing Company (NYSE:BA) gapped up before the market opened on Wednesday . The stock had previously closed at $169.18, but opened at $176.50. Boeing shares last traded at $170.09, with a volume of 4,508,545 shares trading hands.

Analysts Set New Price Targets

Several research analysts have recently weighed in on BA shares. Citigroup decreased their price objective on shares of Boeing from $263.00 to $252.00 and set a “buy” rating for the company in a report on Thursday, March 28th. Royal Bank of Canada dropped their price target on Boeing from $225.00 to $215.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 16th. Morgan Stanley reduced their price objective on Boeing from $235.00 to $180.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 10th. TD Cowen cut their price target on Boeing from $275.00 to $230.00 and set an “outperform” rating for the company in a research note on Monday, March 25th. Finally, Barclays dropped their price objective on shares of Boeing from $235.00 to $190.00 and set an “equal weight” rating on the stock in a report on Monday. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $226.71.

Boeing Trading Down 2.1 %

The stock has a 50 day simple moving average of $188.81 and a 200-day simple moving average of $207.19. The firm has a market cap of $101.01 billion, a P/E ratio of -45.36, a P/E/G ratio of 135.00 and a beta of 1.52.

Boeing (NYSE:BA) last released its quarterly earnings data on Wednesday, January 31st. The aircraft producer reported ($0.47) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.72) by $0.25. The firm had revenue of $22.02 billion during the quarter, compared to the consensus estimate of $21.14 billion. During the same period in the previous year, the firm earned ($1.75) EPS. The business’s revenue was up 10.2% compared to the same quarter last year. As a group, equities analysts forecast that The Boeing Company will post 0.32 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Boeing

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Wells Trecaso Financial Group LLC boosted its holdings in shares of Boeing by 2.6% in the 1st quarter. Wells Trecaso Financial Group LLC now owns 28,875 shares of the aircraft producer’s stock worth $5,573,000 after purchasing an additional 727 shares during the period. Childress Capital Advisors LLC boosted its holdings in Boeing by 15.0% during the 1st quarter. Childress Capital Advisors LLC now owns 4,575 shares of the aircraft producer’s stock valued at $883,000 after acquiring an additional 597 shares during the period. Avitas Wealth Management LLC boosted its holdings in Boeing by 1.2% during the 1st quarter. Avitas Wealth Management LLC now owns 6,813 shares of the aircraft producer’s stock valued at $1,315,000 after acquiring an additional 81 shares during the period. Spire Wealth Management boosted its holdings in Boeing by 3.7% during the 1st quarter. Spire Wealth Management now owns 13,371 shares of the aircraft producer’s stock valued at $2,581,000 after acquiring an additional 480 shares during the period. Finally, First Pacific Financial boosted its holdings in Boeing by 54.8% during the 1st quarter. First Pacific Financial now owns 989 shares of the aircraft producer’s stock valued at $191,000 after acquiring an additional 350 shares during the period. Hedge funds and other institutional investors own 64.82% of the company’s stock.

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.