Boeing Company (BA)

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Analyst: Multiple Headwinds Pushing on Boeing Co (BA) Stock
By: Schaeffer's Investment Research | April 4, 2023

• Northcoast Research downgraded Boeing to "sell"

• The majority of analysts rated BA a "strong buy" coming into today

The shares of blue-chip aerospace concern Boeing Co (NYSE:BA) are 1.6% lower, last seen trading at $211.90, after Northcoast Research downgraded the equity to "sell," citing expected changes to commercial aircraft production, consensus forecast resets, and quarterly headwinds.

There's room for additional analysts to jump aboard the bearish bandwagon. Of the 13 covering brokerages, nine came into today sporting a "strong buy" recommendation. What's more, the 12-month average target price of $226.18 is a 6.2% premium to BA's current perch.

In the options pits, calls rule the roost. Over at the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), Boeing stock's 10-day call/put volume ratio of 2.15 sits higher than 82% of annual readings, suggesting calls have been getting picked up at a much quicker-than-usual clip.

Now looks like a good time to weigh in on the security's next move with options. The stock is seeing attractively priced premiums at the moment, per its Schaeffer's Volatility Index (SVI) of 29%, which sits in the lowest possible percentile of its annual range.

On the charts, Boeing stock's mid-March pullback that bounced off its 100-day moving average saw the shares nearly reclaim their annual highs. And though the equity is falling today, it still stands more than 12% higher in 2023.

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