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

Key Points

• Bombardier, Inc. Class B shares recently traded at C$166.44, moving above its 200-day moving average of C$105.95, suggesting a significant market shift for the stock.
• Wall Street analysts have raised their price targets for Bombardier, with substantial increases from firms like Scotiabank (to C$190.00) and National Bankshares (to C$179.00), reflecting strong buy sentiments.
• Insider trading has seen a notable increase, with insiders selling 110,384 shares valued at over C$11 million in the last 90 days, indicating a potential concern regarding insider confidence in the stock's future performance.

Bombardier, Inc. Class B (TSE:BBD.B - Get Free Report) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$105.95 and traded as high as C$167.89. Bombardier, Inc. Class B shares last traded at C$166.44, with a volume of 239,830 shares trading hands.

Wall Street Analyst Weigh In

Several research analysts recently commented on BBD.B shares. National Bankshares increased their price objective on Bombardier, Inc. Class B from C$171.00 to C$179.00 and gave the company an "outperform" rating in a research note on Friday, August 1st. Citigroup upped their target price on Bombardier, Inc. Class B from C$109.00 to C$195.00 and gave the company a "buy" rating in a report on Monday, July 21st. Scotiabank upped their target price on Bombardier, Inc. Class B from C$150.00 to C$190.00 and gave the company an "outperform" rating in a report on Friday, August 1st. UBS Group upped their target price on Bombardier, Inc. Class B from C$128.00 to C$173.00 in a report on Friday, August 1st. Finally, CIBC upped their target price on Bombardier, Inc. Class B from C$167.00 to C$181.00 in a report on Monday, July 21st. Eight analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of C$179.00.

Bombardier, Inc. Class B Trading Up 1.1%

The company has a fifty day simple moving average of C$148.66 and a 200-day simple moving average of C$108.11. The company has a market capitalization of C$14.25 billion, a PE ratio of 42.67, a PEG ratio of 6.26 and a beta of 2.98.

Insider Buying and Selling at Bombardier, Inc. Class B

In other news, Senior Officer Jean-Christophe Gallagher sold 22,000 shares of the stock in a transaction on Thursday, May 29th. The stock was sold at an average price of C$94.79, for a total transaction of C$2,085,358.00. Also, Senior Officer Eve Laurier sold 4,000 shares of the stock in a transaction on Monday, June 9th. The stock was sold at an average price of C$99.26, for a total value of C$397,032.40. In the last quarter, insiders sold 99,178 shares of company stock worth $10,069,195. 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.