Boeing (NYSE:BA) Stock Price Down 1.9% – What’s Next?

The Boeing Company (NYSE:BA) traded down 1.9% on Thursday . The stock traded as low as $150.80 and last traded at $151.38. 4,599,621 shares were traded during trading, a decline of 47% from the average session volume of 8,651,064 shares. The stock had previously closed at $154.29.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. TD Cowen reduced their price objective on Boeing from $200.00 to $190.00 and set a “buy” rating for the company in a report on Monday, October 14th. Robert W. Baird dropped their target price on Boeing from $240.00 to $200.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. Benchmark restated a “buy” rating and set a $250.00 target price on shares of Boeing in a research report on Thursday, October 24th. Susquehanna dropped their target price on Boeing from $210.00 to $200.00 and set a “positive” rating on the stock in a research report on Thursday, October 24th. Finally, Sanford C. Bernstein downgraded Boeing from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $195.00 to $169.00 in a research report on Wednesday. Three research analysts have rated the stock with a sell rating, nine have given a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $190.42.

Boeing Price Performance

The firm has a market cap of $95.57 billion, a P/E ratio of -11.98 and a beta of 1.57. The stock has a 50 day moving average of $157.46 and a 200 day moving average of $171.00.

Boeing (NYSE:BA) last released 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 company had revenue of $17.84 billion during the quarter, compared to analyst estimates of $17.81 billion. The firm’s revenue was down 1.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($3.26) earnings per share. On average, research analysts predict that The Boeing Company will post -16.22 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Kiely Wealth Advisory Group Inc. bought a new position in shares of Boeing during the second quarter valued at about $33,000. Hobbs Group Advisors LLC bought a new position in shares of Boeing during the second quarter valued at about $34,000. McClarren Financial Advisors Inc. grew its stake in shares of Boeing by 451.4% during the first quarter. McClarren Financial Advisors Inc. now owns 193 shares of the aircraft producer’s stock valued at $37,000 after buying an additional 158 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. grew its stake in shares of Boeing by 351.1% during the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 212 shares of the aircraft producer’s stock valued at $39,000 after buying an additional 165 shares during the last quarter. Finally, 1620 Investment Advisors Inc. bought a new position in shares of Boeing during the second quarter valued at about $39,000. 64.82% of the stock is owned by 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.