Traders Purchase Large Volume of Boeing Call Options (NYSE:BA)

The Boeing Company (NYSE:BAGet Free Report) saw some unusual options trading on Tuesday. Stock traders acquired 171,371 call options on the stock. This is an increase of approximately 21% compared to the typical daily volume of 141,183 call options.

Boeing Trading Up 4.6 %

Shares of BA stock traded up $7.23 on Tuesday, reaching $164.27. The company’s stock had a trading volume of 11,692,149 shares, compared to its average volume of 9,183,242. Boeing has a 1 year low of $137.03 and a 1 year high of $267.54. The stock’s fifty day simple moving average is $151.69 and its 200-day simple moving average is $166.22. The company has a market capitalization of $101.55 billion, a price-to-earnings ratio of -12.77 and a beta of 1.56.

Boeing (NYSE:BAGet Free Report) last issued its quarterly earnings results on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($10.34) by ($0.10). The business had revenue of $17.84 billion for the quarter, compared to analyst estimates of $17.81 billion. The company’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same quarter last year, the firm earned ($3.26) EPS. Equities research analysts forecast that Boeing will post -16.18 earnings per share for the current year.

Institutional Investors Weigh In On Boeing

Institutional investors have recently modified their holdings of the business. RPg Family Wealth Advisory LLC acquired a new stake in Boeing during the 3rd quarter worth $28,000. Cedar Wealth Management LLC purchased a new position in Boeing during the 3rd quarter valued at about $30,000. Kiely Wealth Advisory Group Inc. acquired a new position in Boeing in the 2nd quarter valued at about $33,000. Hobbs Group Advisors LLC acquired a new position in shares of Boeing in the second quarter valued at approximately $34,000. Finally, Harel Insurance Investments & Financial Services Ltd. grew its stake in Boeing by 351.1% during the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 212 shares of the aircraft producer’s stock worth $39,000 after purchasing an additional 165 shares in the last quarter. 64.82% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on BA. Sanford C. Bernstein lowered Boeing from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $195.00 to $169.00 in a research report on Wednesday, October 30th. Susquehanna cut their price target on shares of Boeing from $210.00 to $200.00 and set a “positive” rating on the stock in a research report on Thursday, October 24th. Robert W. Baird dropped their price objective on Boeing from $240.00 to $200.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. The Goldman Sachs Group decreased their price objective on Boeing from $232.00 to $202.00 and set a “buy” rating for the company in a report on Tuesday, September 24th. Finally, Morgan Stanley lowered their target price on shares of Boeing from $195.00 to $170.00 and set an “equal weight” rating for the company in a report on Thursday, October 24th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $190.11.

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About Boeing

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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.

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