Boeing Company (NYSE: BA) experienced a decline of 1.1% during mid-day trading on Friday, with shares falling to as low as $198.75 before closing at $201.18. The trading volume was significantly reduced, with 1,614,287 shares changing hands, marking an 82% drop from the average session volume of approximately 9.2 million shares. This decline follows a previous closing price of $203.41.
Despite this dip, several Wall Street analysts are optimistic about Boeing’s stock potential. Citigroup reaffirmed a “buy” rating in a recent report, while Melius upgraded their recommendation from “hold” to “buy.” UBS Group raised their price target from $207 to $226, maintaining a “buy” stance. Additionally, Sanford C. Bernstein elevated their rating from “market perform” to “outperform,” with a new price objective set at $218. Consensus ratings show that while three analysts suggest a sell, four recommend holding, sixteen endorse buying, and two classify it as a strong buy, resulting in an overall rating of “Moderate Buy” and a consensus price target of $204.35.
Boeing’s stock market capitalization stands at $151.77 billion, with a price-to-earnings ratio of -10.99. The firm’s 50-day and 200-day moving averages are $176.77 and $170.98, respectively. In their latest quarterly earnings report, Boeing revealed earnings per share of ($0.49), surpassing analyst expectations of ($1.39), while revenue reached $19.5 billion, although slightly below the anticipated $19.57 billion. Compared to the previous year, revenue increased by 17.7%.
In a recent insider transaction, Senior Vice President Brendan J. Nelson sold 640 shares, valued at over $132,000, while Executive Vice President Jeffrey S. Shockey sold 3,205 shares for around $650,000. Collectively, insiders have sold 7,744 shares valued at approximately $1.5 million recently.
Institutional investment activity indicates a growing interest in Boeing, with Advisors Capital Management increasing their stake by 19.3% in the first quarter. Other investors, including Beacon Capital Management and McAdam LLC, have also raised their positions in the company, illustrating a trend toward increasing investments in Boeing.
Boeing operates in the aerospace sector, focusing on commercial jetliners, military aircraft, satellites, and related services, showcasing a diversified portfolio that remains attractive to investors. With ongoing recovery trajectories and positive analyst sentiment, the company could be well-positioned for future growth.