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 traded.

Analyst Ratings Changes

Several research firms have issued reports on BA. Bank of America cut their target price on Boeing from $210.00 to $190.00 and set a “neutral” rating on the stock in a research note on Thursday, April 11th. Royal Bank of Canada reduced their price objective on shares of Boeing from $225.00 to $215.00 and set an “outperform” rating for the company in a research note on Tuesday, April 16th. Citigroup lowered their target price on shares of Boeing from $252.00 to $224.00 and set a “buy” rating for the company in a research note on Thursday. Sanford C. Bernstein cut their price target on shares of Boeing from $272.00 to $240.00 and set an “outperform” rating on the stock in a report on Monday, April 8th. Finally, Susquehanna lowered their price objective on Boeing from $265.00 to $230.00 and set a “positive” rating for the company in a research report on Thursday, March 21st. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $222.41.

Boeing Price Performance

The stock has a market cap of $101.78 billion, a PE ratio of -45.33, a PEG ratio of 133.97 and a beta of 1.52. The company’s fifty day moving average is $187.26 and its 200-day moving average is $206.61.

Boeing (NYSE:BA) last released its quarterly earnings data on Wednesday, January 31st. The aircraft producer reported ($0.47) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.72) by $0.25. The company had revenue of $22.02 billion for the quarter, compared to analysts’ expectations of $21.14 billion. The business’s quarterly revenue was up 10.2% on a year-over-year basis. During the same quarter in the previous year, the business posted ($1.75) EPS. Analysts expect that The Boeing Company will post 0.32 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Vermillion & White Wealth Management Group LLC acquired a new position in shares of Boeing in the fourth quarter worth about $26,000. DiNuzzo Private Wealth Inc. acquired a new position in shares of Boeing during the fourth quarter valued at approximately $28,000. Evolution Advisers Inc. acquired a new stake in shares of Boeing in the fourth quarter worth approximately $28,000. CNB Bank grew its holdings in shares of Boeing by 106.5% during the third quarter. CNB Bank now owns 128 shares of the aircraft producer’s stock worth $25,000 after buying an additional 66 shares in the last quarter. Finally, Vima LLC acquired a new stake in shares of Boeing in the fourth quarter valued at about $34,000. 64.82% of the stock is owned by institutional investors and hedge funds.

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.