Bombardier, Inc. Class B (TSE:BBD.B) Share Price Passes Above 200 Day Moving Average - Here's What Happened

Key Points

• Bombardier, Inc. Class B shares surpassed their 200-day moving average, trading as high as C$166.56, with a last price of C$165.10.
• Analysts have shown strong confidence in Bombardier, raising price targets; Desjardins set a target of C$186.00 while Scotiabank aimed for C$190.00.
• Insider selling reached C$12.42 million over the past ninety days, with senior officers selling significant shares of the stock.

Bombardier, Inc. Class B (TSE:BBD.B - Get Free Report) shares passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$101.83 and traded as high as C$166.56. Bombardier, Inc. Class B shares last traded at C$165.10, with a volume of 570,194 shares changing hands.

Wall Street Analyst Weigh In

BBD.B has been the topic of several recent research reports. Desjardins increased their price objective on Bombardier, Inc. Class B from C$175.00 to C$186.00 and gave the stock a "buy" rating in a research report on Friday, August 1st. Scotiabank increased their price objective on Bombardier, Inc. Class B from C$150.00 to C$190.00 and gave the stock an "outperform" rating in a research report on Friday, August 1st. Citigroup increased their price objective on Bombardier, Inc. Class B from C$109.00 to C$195.00 and gave the stock a "buy" rating in a research report on Monday, July 21st. Royal Bank Of Canada increased their price objective on Bombardier, Inc. Class B from C$175.00 to C$202.00 and gave the stock an "outperform" rating in a research report on Friday, August 1st. Finally, CIBC increased their price objective on Bombardier, Inc. Class B from C$167.00 to C$181.00 in a research report on Monday, July 21st. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of C$175.82.

Bombardier, Inc. Class B Price Performance

The company has a market cap of C$14.28 billion, a P/E ratio of 42.77, a PEG ratio of 6.26 and a beta of 2.98. The stock has a 50-day moving average of C$132.60 and a 200 day moving average of C$101.83.

Insider Buying and Selling

In related news, Senior Officer Barton Wade Demosky sold 6,000 shares of the firm's stock in a transaction on Thursday, May 29th. The stock was sold at an average price of C$95.00, for a total value of C$570,000.00. Also, Senior Officer Paul Sislian sold 9,300 shares of the firm's stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of C$105.28, for a total value of C$979,066.80. Insiders have sold 124,838 shares of company stock valued at $12,420,520 in the last ninety days. Insiders own 1.66% of the company's stock.

Bombardier, Inc. Class B Company Profile

Bombardier Inc, together with its subsidiaries, manufactures and sells transportation equipment worldwide. Bombardier Inc was incorporated in 1902 and is based in Dorval, Canada.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.