Boeing (NYSE:BA) Stock Price Up 0.9% – Here’s Why

The Boeing Company (NYSE:BA) shares rose 0.9% during mid-day trading on Thursday . The stock traded as high as $176.54 and last traded at $176.39. Approximately 1,418,901 shares changed hands during trading, a decline of 81% from the average daily volume of 7,472,984 shares. The stock had previously closed at $174.80.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. Morgan Stanley dropped their price target on Boeing from $195.00 to $170.00 and set an “equal weight” rating for the company in a research report on Thursday, October 24th. Wells Fargo & Company cut their target price on Boeing from $86.00 to $85.00 and set an “underweight” rating for the company in a research note on Monday, November 4th. Royal Bank of Canada reissued an “outperform” rating and set a $200.00 price target on shares of Boeing in a research report on Wednesday, October 30th. TD Cowen cut their price objective on shares of Boeing from $200.00 to $190.00 and set a “buy” rating for the company in a research report on Monday, October 14th. Finally, DZ Bank lowered shares of 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. Two research analysts have rated the stock with a sell rating, eight have given 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, the company currently has an average rating of “Moderate Buy” and a consensus price target of $192.11.

Boeing Price Performance

The company has a market capitalization of $108.77 billion, a PE ratio of -13.64 and a beta of 1.52. The company’s 50 day simple moving average is $166.42 and its 200 day simple moving average is $164.56.

Boeing (NYSE:BA) last issued its quarterly earnings data on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share (EPS) for the quarter, missing the consensus estimate of ($10.34) by ($0.10). The business had revenue of $17.84 billion during the quarter, compared to the consensus estimate of $17.81 billion. The business’s revenue was down 1.5% on a year-over-year basis. During the same quarter last year, the firm posted ($3.26) earnings per share. On average, equities analysts forecast that The Boeing Company will post -16.39 EPS for the current year.

Institutional Investors Weigh In On Boeing

Several hedge funds have recently made changes to their positions in BA. Tempus Wealth Planning LLC raised its stake in shares of Boeing by 6.2% during the fourth quarter. Tempus Wealth Planning LLC now owns 7,608 shares of the aircraft producer’s stock worth $1,347,000 after purchasing an additional 447 shares during the last quarter. Caas Capital Management LP raised its position in Boeing by 100.0% during the 4th quarter. Caas Capital Management LP now owns 2,000 shares of the aircraft producer’s stock worth $354,000 after buying an additional 1,000 shares during the last quarter. Paul R. Ried Financial Group LLC acquired a new stake in shares of Boeing in the 4th quarter worth $2,748,000. Alliance Wealth Advisors LLC UT boosted its holdings in shares of Boeing by 152.8% in the fourth quarter. Alliance Wealth Advisors LLC UT now owns 4,560 shares of the aircraft producer’s stock valued at $807,000 after acquiring an additional 2,756 shares in the last quarter. Finally, Baltimore Washington Financial Advisors Inc. acquired a new position in shares of Boeing during the fourth quarter worth about $205,000. Institutional investors and hedge funds 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.