Boeing (NYSE:BA) Hits New 12-Month Low – Here’s Why

The Boeing Company (NYSE:BA)’s share price reached a new 52-week low during trading on Friday . The stock traded as low as $132.79 and last traded at $140.42, with a volume of 8482482 shares changing hands. The stock had previously closed at $150.91.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on BA shares. Wells Fargo & Company upped their price target on shares of Boeing from $103.00 to $113.00 and gave the stock an “underweight” rating in a research note on Monday, March 17th. Royal Bank of Canada reissued an “outperform” rating and issued a $200.00 price objective on shares of Boeing in a research note on Wednesday, January 29th. Melius Research set a $204.00 target price on Boeing in a report on Monday, March 24th. Barclays upgraded shares of Boeing from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $190.00 to $210.00 in a research report on Monday, January 6th. Finally, StockNews.com upgraded shares of Boeing to a “sell” rating in a report on Wednesday, March 12th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Boeing has an average rating of “Moderate Buy” and a consensus target price of $196.10.

Boeing Price Performance

The business’s 50 day simple moving average is $173.15 and its 200 day simple moving average is $164.29. The stock has a market cap of $102.38 billion, a P/E ratio of -7.45 and a beta of 1.53.

Boeing (NYSE:BA) last issued its quarterly earnings results on Tuesday, January 28th. The aircraft producer reported ($5.90) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.60) by ($4.30). During the same period last year, the business posted ($0.47) EPS. Research analysts predict that The Boeing Company will post -2.58 earnings per share for the current year.

Insider Buying and Selling

In other Boeing news, EVP Uma M. Amuluru sold 3,159 shares of the firm’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $180.69, for a total value of $570,799.71. Following the transaction, the executive vice president now directly owns 19,213 shares of the company’s stock, valued at approximately $3,471,596.97. This trade represents a 14.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.09% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Boeing

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BA. Sierra Ocean LLC bought a new stake in Boeing in the fourth quarter valued at approximately $26,000. Sugar Maple Asset Management LLC bought a new position in Boeing during the fourth quarter worth about $27,000. Fiduciary Advisors Inc. acquired a new position in Boeing in the fourth quarter valued at about $28,000. HighMark Wealth Management LLC increased its holdings in shares of Boeing by 121.6% in the fourth quarter. HighMark Wealth Management LLC now owns 164 shares of the aircraft producer’s stock worth $29,000 after acquiring an additional 90 shares in the last quarter. Finally, REAP Financial Group LLC lifted its stake in Boeing by 60.2% in the fourth quarter. REAP Financial Group LLC now owns 173 shares of the aircraft producer’s stock valued at $31,000 after buying an additional 65 shares in the last quarter. Institutional investors own 64.82% of the company’s stock.

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.