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

Shares of The Boeing Company (NYSE:BA) gapped up prior to trading 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.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on BA. Barclays reduced their price objective on shares of Boeing from $235.00 to $190.00 and set an “equal weight” rating for the company in a research note on Monday. Northcoast Research cut shares of Boeing from a “neutral” rating to a “sell” rating and set a $140.00 price target on the stock. in a report on Wednesday, April 17th. Wells Fargo & Company lowered their price objective on Boeing from $225.00 to $215.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 1st. Royal Bank of Canada reduced their target price on Boeing from $225.00 to $215.00 and set an “outperform” rating for the company in a research report on Tuesday, April 16th. Finally, Benchmark reaffirmed a “buy” rating and issued a $250.00 price target on shares of Boeing in a report on Tuesday, March 26th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $222.41.

Boeing Trading Up 1.5 %

The company has a market capitalization of $101.78 billion, a P/E ratio of -45.33, a price-to-earnings-growth ratio of 133.97 and a beta of 1.52. The company’s 50 day moving average is $187.26 and its 200-day moving average is $206.61.

Boeing (NYSE:BA) last issued its quarterly earnings results on Wednesday, January 31st. The aircraft producer reported ($0.47) earnings per share for the quarter, beating the consensus estimate of ($0.72) by $0.25. The company had revenue of $22.02 billion for the quarter, compared to the consensus estimate of $21.14 billion. Boeing’s revenue was up 10.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($1.75) earnings per share. Analysts predict that The Boeing Company will post 0.32 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of BA. CNB Bank boosted its holdings in shares of Boeing by 106.5% during the 3rd quarter. CNB Bank now owns 128 shares of the aircraft producer’s stock valued at $25,000 after acquiring an additional 66 shares during the last quarter. Vermillion & White Wealth Management Group LLC purchased a new stake in Boeing in the fourth quarter worth approximately $26,000. Evolution Advisers Inc. purchased a new stake in Boeing in the fourth quarter worth approximately $28,000. DiNuzzo Private Wealth Inc. bought a new stake in Boeing in the 4th quarter worth approximately $28,000. Finally, Vima LLC purchased a new stake in Boeing during the 4th quarter valued at $34,000. Hedge funds and other institutional investors own 64.82% of the company’s stock.

About Boeing

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.