Boeing (NYSE:BA) Stock Price Up 0.4% – What’s Next?

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

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on BA shares. Royal Bank of Canada restated an “outperform” rating and issued a $200.00 price target on shares of Boeing in a report on Wednesday, October 30th. JPMorgan Chase & Co. lowered their target price on shares of Boeing from $195.00 to $190.00 and set an “overweight” rating for the company in a research note on Monday. Robert W. Baird lowered their target price on shares of Boeing from $240.00 to $200.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Boeing from $225.00 to $195.00 and set a “buy” rating for the company in a research note on Thursday, October 3rd. Finally, The Goldman Sachs Group lowered their target price on shares of Boeing from $232.00 to $202.00 and set a “buy” rating for the company in a research note on Tuesday, September 24th. Three analysts have rated the stock with a sell rating, nine have given a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Boeing currently has an average rating of “Hold” and a consensus target price of $190.11.

Boeing Trading Up 1.1 %

The stock has a market capitalization of $94.21 billion, a PE ratio of -11.81 and a beta of 1.57. The firm’s fifty day moving average price is $151.44 and its two-hundred day moving average price is $167.67.

Boeing (NYSE:BA) last posted its earnings results on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share for the quarter, missing the consensus estimate of ($10.34) by ($0.10). The firm had revenue of $17.84 billion for the quarter, compared to analysts’ expectations of $17.81 billion. Boeing’s quarterly revenue was down 1.5% on a year-over-year basis. During the same period last year, the business posted ($3.26) earnings per share. As a group, sell-side analysts anticipate that The Boeing Company will post -16.2 earnings per share 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 stock. Hobbs Group Advisors LLC purchased a new stake in Boeing in the 2nd quarter worth $34,000. RPg Family Wealth Advisory LLC acquired a new stake in Boeing during the 3rd quarter worth $28,000. Kiely Wealth Advisory Group Inc. acquired a new stake in Boeing during the 2nd quarter worth $33,000. Cedar Wealth Management LLC acquired a new stake in Boeing during the 3rd quarter worth $30,000. Finally, Harel Insurance Investments & Financial Services Ltd. boosted its stake in 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 purchasing an additional 165 shares during the last quarter. 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.