Boeing (NYSE:BA) Stock Price Up 2.3% – Here’s What Happened

The Boeing Company (NYSE:BA) rose 2.3% on Tuesday . The company traded as high as $154.27 and last traded at $154.19. Approximately 29,284,400 shares were traded during trading, an increase of 253% from the average daily volume of 8,291,547 shares. The stock had previously closed at $150.69.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on BA shares. Citigroup dropped their price target on Boeing from $224.00 to $209.00 and set a “buy” rating on the stock in a research report on Tuesday, October 15th. Sanford C. Bernstein lowered Boeing from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $195.00 to $169.00 in a research report on Wednesday. Wells Fargo & Company lowered their target price on shares of Boeing from $109.00 to $86.00 and set an “underweight” rating for the company in a research note on Thursday, October 24th. Royal Bank of Canada reiterated an “outperform” rating and set a $200.00 price objective on shares of Boeing in a report on Wednesday. Finally, Benchmark restated a “buy” rating and set a $250.00 target price on shares of Boeing in a research note on Thursday, October 24th. Three analysts have rated the stock with a sell rating, nine have given a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $190.42.

Boeing Stock Down 3.3 %

The firm has a market capitalization of $91.63 billion, a PE ratio of -42.64 and a beta of 1.57. The business has a 50-day moving average price of $158.34 and a 200-day moving average price of $171.24.

Boeing (NYSE:BA) last issued its earnings results on Wednesday, October 23rd. The aircraft producer reported ($10.44) 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 the consensus estimate of $17.81 billion. During the same quarter in the previous year, the business earned ($3.26) earnings per share. Boeing’s revenue for the quarter was down 1.5% compared to the same quarter last year. On average, equities research analysts anticipate that The Boeing Company will post -5.35 earnings per share for the current year.

Institutional Trading of Boeing

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Madison Park Capital Advisors LLC boosted its position in shares of Boeing by 4.9% in the second quarter. Madison Park Capital Advisors LLC now owns 1,204 shares of the aircraft producer’s stock worth $219,000 after buying an additional 56 shares during the period. Wealth Alliance Advisory Group LLC grew its stake in Boeing by 1.6% during the 2nd quarter. Wealth Alliance Advisory Group LLC now owns 3,798 shares of the aircraft producer’s stock valued at $691,000 after acquiring an additional 60 shares in the last quarter. Angeles Wealth Management LLC increased its holdings in shares of Boeing by 4.2% in the 1st quarter. Angeles Wealth Management LLC now owns 1,524 shares of the aircraft producer’s stock valued at $294,000 after purchasing an additional 61 shares during the period. IMS Capital Management lifted its position in shares of Boeing by 0.4% in the second quarter. IMS Capital Management now owns 16,032 shares of the aircraft producer’s stock worth $2,759,000 after purchasing an additional 62 shares in the last quarter. Finally, Meeder Advisory Services Inc. increased its stake in Boeing by 0.9% in the 1st quarter. Meeder Advisory Services Inc. now owns 7,559 shares of the aircraft producer’s stock valued at $1,459,000 after buying an additional 65 shares during the period. 64.82% of the stock is currently owned by hedge funds and other institutional investors.

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.