Boeing (NYSE:BA) Shares Up 0% – Here’s What Happened

The Boeing Company (NYSE:BA)’s stock price shot up 0% on Wednesday . The stock traded as high as $169.99 and last traded at $167.09. 1,973,935 shares traded hands during trading, a decline of 74% from the average session volume of 7,728,913 shares. The stock had previously closed at $167.02.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on BA shares. Barclays raised Boeing from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $190.00 to $210.00 in a report on Monday, January 6th. Northcoast Research raised shares of Boeing from a “sell” rating to a “neutral” rating in a research report on Thursday, December 12th. Morgan Stanley cut their price objective on shares of Boeing from $195.00 to $170.00 and set an “equal weight” rating for the company in a report on Thursday, October 24th. UBS Group decreased their target price on shares of Boeing from $215.00 to $195.00 and set a “buy” rating on the stock in a research report on Thursday, October 24th. Finally, TD Cowen decreased their price target on Boeing from $200.00 to $190.00 and set a “buy” rating on the stock in a research report on Monday, October 14th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Boeing has a consensus rating of “Moderate Buy” and an average price target of $192.21.

Boeing Stock Up 1.3 %

The firm has a 50 day moving average price of $162.76 and a two-hundred day moving average price of $165.00. The company has a market cap of $105.80 billion, a price-to-earnings ratio of -13.27 and a beta of 1.52.

Boeing (NYSE:BA) last posted 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 analysts’ expectations of $17.81 billion. During the same quarter last year, the firm earned ($3.26) EPS. The business’s quarterly revenue was down 1.5% on a year-over-year basis. On average, equities analysts expect that The Boeing Company will post -16.43 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in BA. American Century Companies Inc. raised its holdings in shares of Boeing by 20.8% in the 2nd quarter. American Century Companies Inc. now owns 44,992 shares of the aircraft producer’s stock worth $8,189,000 after acquiring an additional 7,739 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Boeing by 8.4% in the second quarter. Dimensional Fund Advisors LP now owns 1,277,289 shares of the aircraft producer’s stock worth $232,479,000 after purchasing an additional 98,973 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. lifted its holdings in shares of Boeing by 8.8% in the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 10,449 shares of the aircraft producer’s stock valued at $1,902,000 after purchasing an additional 841 shares in the last quarter. Vanguard Personalized Indexing Management LLC boosted its position in shares of Boeing by 15.2% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 43,184 shares of the aircraft producer’s stock valued at $7,755,000 after buying an additional 5,704 shares during the last quarter. Finally, Waterloo Capital L.P. boosted its position in shares of Boeing by 56.2% during the second quarter. Waterloo Capital L.P. now owns 1,610 shares of the aircraft producer’s stock valued at $293,000 after buying an additional 579 shares during the last quarter. Institutional investors own 64.82% of the company’s stock.

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.