Boeing (NYSE:BA) Stock Price Up 1.4% - What's Next?

Key Points

• Boeing shares rose 1.4% to about $224.39 on Tuesday, with volume of ~3.83 million shares — roughly a 46% decline from average daily volume.
• Analysts are broadly positive with an average rating of "Moderate Buy" and an average price target of $259.60, while several firms raised targets (RBC to $275, UBS to $285) and Citigroup trimmed its target to $256.
• Boeing delivered an earnings beat (EPS -$0.20 vs. -$0.68 expected) and revenue rose 14% to $22.22 billion, but the company has high leverage (debt-to-equity 7.42) and a stretched P/E of about 109.

The Boeing Company (NYSE:BA - Get Free Report) rose 1.4% during trading on Tuesday . The stock traded as high as $225.56 and last traded at $224.3920. Approximately 3,829,015 shares traded hands during mid-day trading, a decline of 46% from the average daily volume of 7,101,137 shares. The stock had previously closed at $221.30.

Analysts Set New Price Targets

Several brokerages recently issued reports on BA. Royal Bank Of Canada increased their price target on shares of Boeing from $265.00 to $275.00 and gave the stock an "outperform" rating in a research note on Wednesday, January 28th. TD Cowen reiterated a "buy" rating on shares of Boeing in a research note on Wednesday, January 28th. Citigroup decreased their price target on shares of Boeing from $290.00 to $256.00 and set a "buy" rating for the company in a research note on Thursday, April 2nd. Jefferies Financial Group reiterated a "buy" rating on shares of Boeing in a research note on Wednesday, March 4th. Finally, UBS Group increased their price target on shares of Boeing from $275.00 to $285.00 and gave the stock a "buy" rating in a research note on Wednesday, January 28th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, four have given a Hold rating and three have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $259.60.

Boeing Stock Performance

The company has a current ratio of 1.18, a quick ratio of 0.35 and a debt-to-equity ratio of 7.42. The company's 50 day moving average is $217.11 and its 200-day moving average is $217.38. The company has a market capitalization of $176.89 billion, a P/E ratio of 108.93 and a beta of 1.21.

Boeing (NYSE:BA - Get Free Report) last released its quarterly earnings data on Wednesday, April 22nd. The aircraft producer reported ($0.20) earnings per share for the quarter, beating analysts' consensus estimates of ($0.68) by $0.48. The firm had revenue of $22.22 billion for the quarter, compared to the consensus estimate of $22.15 billion. The firm's revenue for the quarter was up 14.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.49) earnings per share. Equities analysts anticipate that The Boeing Company will post 0.04 EPS for the current fiscal year.

Insider Activity

In other Boeing news, EVP Howard E. Mckenzie sold 10,497 shares of the firm's stock in a transaction dated Thursday, February 5th. The shares were sold at an average price of $233.99, for a total transaction of $2,456,193.03. Following the completion of the sale, the executive vice president directly owned 14,692 shares in the company, valued at approximately $3,437,781.08. This trade represents a 41.67% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Uma M. Amuluru sold 1,503 shares of the firm's stock in a transaction dated Tuesday, February 24th. The shares were sold at an average price of $233.78, for a total transaction of $351,371.34. Following the sale, the executive vice president owned 19,015 shares of the company's stock, valued at approximately $4,445,326.70. This represents a 7.33% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 21,012 shares of company stock valued at $4,980,687 in the last quarter. 0.10% of the stock is owned by company insiders.

Institutional Trading of Boeing

A number of institutional investors and hedge funds have recently bought and sold shares of BA. Blackhawk Capital Partners LLC purchased a new stake in shares of Boeing during the 1st quarter valued at about $2,342,000. Journey Advisory Group LLC boosted its holdings in shares of Boeing by 11.4% during the 1st quarter. Journey Advisory Group LLC now owns 2,136 shares of the aircraft producer's stock valued at $425,000 after acquiring an additional 218 shares during the last quarter. Harmony Asset Management LLC boosted its holdings in shares of Boeing by 1.5% during the 1st quarter. Harmony Asset Management LLC now owns 5,911 shares of the aircraft producer's stock valued at $1,176,000 after acquiring an additional 90 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. boosted its holdings in shares of Boeing by 39.7% during the 1st quarter. Harel Insurance Investments & Financial Services Ltd. now owns 123,681 shares of the aircraft producer's stock valued at $24,616,000 after acquiring an additional 35,172 shares during the last quarter. Finally, MASTERINVEST Kapitalanlage GmbH purchased a new stake in shares of Boeing during the 1st quarter valued at about $247,000. 64.82% of the stock is currently owned by institutional investors.

Boeing Company Profile

Boeing Company NYSE: BA is an American multinational corporation that designs, manufactures and services commercial airplanes, defense systems, and space and security technologies. Founded in 1916 by William E. Boeing in Seattle, the company today operates as an integrated aerospace and defense contractor with a global customer base. Boeing relocated its corporate headquarters to Arlington, Virginia in 2022 and maintains extensive engineering, manufacturing and service operations across the United States and around the world.

Boeing's principal lines of business include Commercial Airplanes, which produces and supports a range of jetliners used by airlines globally; Defense, Space & Security, which develops military aircraft, rotorcraft, surveillance and reconnaissance systems, satellites, and launch and missile systems; and Boeing Global Services, which provides aftermarket maintenance, training, spare parts, digital analytics and logistics support.

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