The Boeing Company (NYSE:BA) Short Interest Update

The Boeing Company (NYSE:BA) saw a significant decrease in short interest in August. As of August 31st, there was short interest totalling 12,340,000 shares, a decrease of 9.0% from the August 15th total of 13,560,000 shares. Based on an average trading volume of 6,190,000 shares, the short-interest ratio is presently 2.0 days.

Analyst Upgrades and Downgrades

BA has been the topic of several recent research reports. Bank of America boosted their price target on Boeing from $180.00 to $200.00 and gave the stock a “neutral” rating in a research report on Thursday, June 13th. Sanford C. Bernstein lowered their price target on shares of Boeing from $222.00 to $207.00 and set an “outperform” rating for the company in a report on Monday, August 5th. Baird R W raised shares of Boeing to a “strong-buy” rating in a research note on Monday, June 3rd. UBS Group decreased their price objective on shares of Boeing from $250.00 to $240.00 and set a “buy” rating for the company in a research report on Friday, June 7th. Finally, Susquehanna reaffirmed a “positive” rating and set a $230.00 target price on shares of Boeing in a research report on Wednesday, August 14th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $211.29.

Boeing Stock Up 0.5 %

BA stock traded up $0.83 during trading on Tuesday, reaching $156.38. 8,101,979 shares of the company’s stock were exchanged, compared to its average volume of 7,935,248. Boeing has a 1-year low of $154.02 and a 1-year high of $267.54. The company’s fifty day moving average price is $172.95 and its 200-day moving average price is $178.39. The firm has a market cap of $96.00 billion, a PE ratio of -44.05 and a beta of 1.57.

Boeing (NYSE:BA) last issued its quarterly earnings results on Wednesday, July 31st. The aircraft producer reported ($2.90) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.00) by ($1.90). The firm had revenue of $16.87 billion for the quarter, compared to the consensus estimate of $17.35 billion. During the same period in the prior year, the company posted ($0.82) earnings per share. The company’s revenue for the quarter was down 14.6% on a year-over-year basis. As a group, sell-side analysts expect that Boeing will post -4.26 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Boeing

Several hedge funds have recently made changes to their positions in the business. Vermillion & White Wealth Management Group LLC acquired a new position in shares of Boeing in the 4th quarter valued at $26,000. Kiely Wealth Advisory Group Inc. purchased a new position in shares of Boeing in the second quarter worth approximately $33,000. Vima LLC acquired a new stake in shares of Boeing during the fourth quarter valued at approximately $34,000. Hobbs Group Advisors LLC purchased a new stake in shares of Boeing in the 2nd quarter valued at approximately $34,000. Finally, McClarren Financial Advisors Inc. boosted its stake in Boeing by 451.4% in the 1st quarter. McClarren Financial Advisors Inc. now owns 193 shares of the aircraft producer’s stock worth $37,000 after purchasing an additional 158 shares during the period. Institutional investors and hedge funds 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.