The stock of The Boeing Company (NYSE:BA) is now priced at $171.82 and the shares are -3.98 points down or -2.26% lower compared to its previous closing price of $175.8. The stock had 16.026 million contracts set over the past session. BA shares’ daily volume is compared to its average trading volume at 44.935 million shares. However, it has a float of 564 million and although its performance was -3.62% over the week, it’s one to watch. Analysts have given the BA stock a yearly average price target of $173.5 per share. It means the stock’s upside potential is 0.98% with the BA share price recently placing at $171.7 to $175.27. However, some brokerage firms have priced the stock below the average, including one that has called $125.
The shorts are running away from the The Boeing Company stock, with the latest data on short interest released on July 31, 2020, showing that short interest numbers in the BA shares have declined. Short interest in the stock represents just 1.43% of its float, but the volume has dropped by 0.
In the last trading session, The Boeing Company (NYSE:BA) dropped by -$6.45 over the week and gained $9.55 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $391. The stock recorded its established 52-week high on 09/25/19.
Since 03/18/20, the stock has traded to a low of $89 at 93.06%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge. The stock has a beta allocation of 1.38. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, The Boeing Company’s two-week RSI is 48.19. This suggests that the stock is neutral at the moment and that BA shares’ price movement remains stable. The stochastic readings are equally revealing at 36.14% meaning the BA share price is currently in neutral territory.
The technical chart shows that the BA stock will likely settle at between $174.16 and $176.5 per share. However, if the stock dips below $170.59, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $169.36.
Currently, the stock is trading in the green of MACD, with a reading of 1.38. Investors always pay attention to any move above or below the zero-line, mainly because the indicator points to the position of the stock’s short-term average relative to its long-term measure. A MACD -a reading above the zero line means that the short-term is above the long-term average. This scenario implies that there is an upward momentum. The opposite is true when the MACD falls below the zero-line.
Analysts at Wolfe Research cut their recommendation for BA from Peer Perform to Underperform in July 16 review. Bernstein analysts downgraded their recommendation of the stock from Outperform to Mkt Perform while keeping its target price at $165 in a flash note released to investors on June 26. Berenberg seeing the stock struggling downgraded it from Hold to Sell on June 25 placing it at $150.
The average rating for the BA equity is 2.88 and is currently gathering a bullish momentum. Of 25 analysts tracking The Boeing Company polled by Reuters, 13 rated BA as a hold. The remaining 12 analysts were split evenly. However, the split wasn’t equal as a majority (8) rated it as a buy or strong buy. 4 analyst advised investors against buying the stock or to sell if they own any of the stock.
Elsewhere, the BA stock price is 43.25X ahead of its 12-month Consensus earnings per share estimates. The stocks P/S ratio currently stands below the group’s average of 52.8. The Boeing Company has its P/E ratio at 0, which means that the stock is currently trading at a discount relative to the 4.9 industry average.
Zacks Consensus Estimate forecasts that the current-quarter revenues for The Boeing Company (NYSE:BA) will increase by about 28.4%, which will see them reach $15200 million. The company’s full-year revenues are, however, expected to diminish by about -18.86%, down from $76600 million to $62100 million. BA’s expected adjusted earnings should drop almost -244.83% to end up at -$2.1 per share, while for the fiscal year, analysts project the company’s earnings to grow by about 168.88% to record -$9.33/share.