Boeing (NYSE:BA) Shares Down 1.5% – What’s Next?

The Boeing Company (NYSE:BA)’s stock price traded down 1.5% during mid-day trading on Wednesday . The stock traded as low as $141.75 and last traded at $142.96. 5,019,965 shares traded hands during trading, a decline of 45% from the average session volume of 9,058,251 shares. The stock had previously closed at $145.17.

Wall Street Analyst Weigh In

Several research firms recently weighed in on BA. DZ Bank downgraded Boeing from a “buy” rating to a “hold” rating and set a $152.00 price objective on the stock. in a report on Tuesday, October 15th. Royal Bank of Canada reiterated an “outperform” rating and set a $200.00 target price on shares of Boeing in a research report on Wednesday, October 30th. JPMorgan Chase & Co. dropped their price target on shares of Boeing from $235.00 to $195.00 and set an “overweight” rating for the company in a research note on Monday, October 14th. Robert W. Baird decreased their price objective on Boeing from $240.00 to $200.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Finally, Stifel Nicolaus raised their target price on Boeing from $230.00 to $235.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Boeing presently has an average rating of “Hold” and a consensus target price of $190.37.

Boeing Stock Down 3.7 %

The business’s 50 day simple moving average is $154.49 and its two-hundred day simple moving average is $170.11.

Boeing (NYSE:BA) last released 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 during the quarter, compared to analyst estimates of $17.81 billion. The business’s revenue was down 1.5% on a year-over-year basis. During the same period in the prior year, the business earned ($3.26) EPS. On average, equities research analysts anticipate that The Boeing Company will post -16.09 EPS for the current fiscal year.

Institutional Trading of Boeing

Several institutional investors and hedge funds have recently made changes to their positions in the company. Quantbot Technologies LP bought a new position in Boeing in the 3rd quarter valued at $1,295,000. Summit Financial Wealth Advisors LLC grew its position in Boeing by 13.4% during the third quarter. Summit Financial Wealth Advisors LLC now owns 2,538 shares of the aircraft producer’s stock valued at $386,000 after buying an additional 300 shares during the period. Qsemble Capital Management LP increased its holdings in Boeing by 33.5% during the third quarter. Qsemble Capital Management LP now owns 7,645 shares of the aircraft producer’s stock worth $1,162,000 after buying an additional 1,917 shares during the last quarter. Truvestments Capital LLC purchased a new position in Boeing in the third quarter valued at about $58,000. Finally, Bedell Frazier Investment Counselling LLC grew its position in shares of Boeing by 41.3% during the 3rd quarter. Bedell Frazier Investment Counselling LLC now owns 11,194 shares of the aircraft producer’s stock valued at $1,702,000 after acquiring an additional 3,274 shares during the period. Hedge funds and other institutional investors own 64.82% of the company’s stock.

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.