Why The Boeing Company (BA) Stock Hammered, Up To -3.27%, in Trade Today
The Boeing Company (NYSE:BA) is among the top losers of the stock market today, sinking -3.27% or (-12.05 points) to $357.01 from its previous close of $369.06. Does this decline mean it the best stock to buy right now? The shares seem to have an active trading volume day with a reported 3024884 contracts so far this session. BA shares had a relatively better volume day versus average trading capacity of 4.16 million shares, but with a 0.56 billion float and a -0.52% run over a week, it's definitely worth keeping an eye on. The one year price forecast for BA stock indicates that the average analyst price target is $411.86 per share. This means the stock has a potential increase of 15.36% from where the BA share price has been trading recently which is between $369.06 and $373.8. There are some brokerage firms that offer lower targets than the average, with one of them, even setting their price target at $367. Flipping the other side of the coin, an analyst who is fully bullish set a price target as high as $521.
During the recent trading session for The Boeing Company (NYSE:BA), the company witnessed their stock drop by $-10.71 over a week and tumble down $-15.18 from the price 20 days ago. When compared to their established 52-week high of $446.01, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 01/03/19. The recent low of $292.47 stood for a -19.95% since 12/26/18, a data which is good for most investors who are looking to take advantage of the stock's recent rise. A beta of 1.27 is also allocated to the stock. Since the beta is greater than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to. At the moment, the median target price for BA is set at $430, a figure which is below the recent 1-year high the stock witnessed.
Looking at the current readings for The Boeing Company, the two-week RSI stands at 38.11. This figure suggests that BA stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current BA readings is similarly very revealing as it has a stochastic reading of 22.71% at this stage. This figure means that BA share price today is being overbought.
Technical chart claims that The Boeing Company (BA) would settle between $372.22/share to $375.38/share level. However, if the stock price goes below the $367.48 mark, then the market for The Boeing Company becomes much weaker. If that happens, the stock price might even plunge as low as $365.9 for its downside target. The stock is currently in the red zone of MACD, with the indicator reading -3.08. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.
Analysts at BofA/Merrill lifted target price for shares of BA but were stick to Neutral recommendation for the stock in their opinion released on October 18. The price target has been raised from $415 to $400. BofA/Merrill analysts again handed out a Neutral recommendation to The Boeing Company (NYSE:BA) stock but they lifted target price for the shares in a flash note issued to investors on October 09. The target price has been raised from $420 to $415. Analysts at Robert W. Baird are sticking to their Outperform stance. However, on October 02, they lifted price target for these shares to $445 from $470.
BA equity has an average rating of 2.39, with the figure leaning towards a bullish end. 21 analysts who tracked the company were contacted by Reuters. Amongst them, 7 rated the stock as a hold while the remaining 14 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while others rated it as a sell. 12 analysts rated The Boeing Company (NYSE:BA) as a buy or a strong buy while 2 advised that investors should desist from purchasing the stock or sell them if they already own the company's stock.
Moving on, BA stock price is currently trading at 16.43X forward 12-month Consensus EPS estimates, and its P/E ratio is 43.1 while for the average stock in the same group, the multiple is 24.2. The Boeing Company current P/B ratio of 0 means it is trading at a discount against its industry's 7.8.
The Boeing Company (BA)'s current-quarter revenues are projected to climb by nearly -22.2% to hit $19.57 billion, based on current consensus estimate. The firm's full-year revenues are expected to expand by over -18.7% from $101.13 billion to a noteworthy $82.22 billion. At the other end of the current quarter income statement, The Boeing Company is expected to see its adjusted earnings surge by roughly -40.8% to hit $2.12 per share. For the fiscal year, BA's earnings are projected to climb by roughly -80.3% to hit $3.15 per share.
Market Summary Follow The Boeing Company is a Boeing manufactures commercial airplanes, provides defense equipment, and maintains a small captive finance division. Last Price $ 344.00 Last Trade BA - Market Data & NewsBA - Stock Valuation
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