Boeing (NYSE:BA) Stock Price Up 0.4% – Here’s Why

The Boeing Company (NYSE:BA) shares shot up 0.4% during mid-day trading on Wednesday . The company traded as high as $152.00 and last traded at $151.41. 1,488,087 shares changed hands during mid-day trading, a decline of 84% from the average session volume of 9,168,270 shares. The stock had previously closed at $150.76.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on BA shares. Benchmark reiterated a “buy” rating and set a $250.00 price target on shares of Boeing in a report on Thursday, October 24th. Royal Bank of Canada reiterated an “outperform” rating and issued a $200.00 target price on shares of Boeing in a research note on Wednesday, October 30th. JPMorgan Chase & Co. lowered their price target on Boeing from $195.00 to $190.00 and set an “overweight” rating on the stock in a research report on Monday. Jefferies Financial Group cut their price objective on Boeing from $270.00 to $240.00 and set a “buy” rating for the company in a research report on Monday, September 23rd. Finally, DZ Bank lowered Boeing from a “buy” rating to a “hold” rating and set a $152.00 target price on the stock. in a report on Tuesday, October 15th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Boeing presently has an average rating of “Hold” and a consensus price target of $190.11.

Boeing Stock Up 0.9 %

The firm has a market cap of $94.02 billion, a P/E ratio of -11.74 and a beta of 1.57. The business has a fifty day moving average of $151.53 and a 200 day moving average of $167.88.

Boeing (NYSE:BA) last issued its quarterly earnings data on Wednesday, October 23rd. The aircraft producer reported ($10.44) EPS for the quarter, missing the consensus estimate 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. During the same quarter in the previous year, the firm earned ($3.26) earnings per share. The company’s revenue for the quarter was down 1.5% compared to the same quarter last year. On average, sell-side analysts expect that The Boeing Company will post -16.2 EPS for the current fiscal year.

Institutional Investors Weigh In On Boeing

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. RPg Family Wealth Advisory LLC bought a new position in shares of Boeing in the 3rd quarter valued at about $28,000. Cedar Wealth Management LLC acquired a new position in Boeing during the third quarter worth approximately $30,000. Kiely Wealth Advisory Group Inc. bought a new stake in Boeing in the second quarter valued at approximately $33,000. Hobbs Group Advisors LLC bought a new position in shares of Boeing during the 2nd quarter worth approximately $34,000. Finally, Harel Insurance Investments & Financial Services Ltd. increased its holdings in shares of 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 acquiring an additional 165 shares during the last quarter. 64.82% of the stock is owned by institutional investors.

Boeing Company Profile

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.