Boeing (NYSE:BA) Trading 0.8% Higher – Here’s What Happened

The Boeing Company (NYSE:BA) shot up 0.8% on Tuesday . The stock traded as high as $145.99 and last traded at $145.04. 2,389,955 shares traded hands during mid-day trading, a decline of 74% from the average session volume of 9,158,310 shares. The stock had previously closed at $143.87.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on BA. Stifel Nicolaus increased their price target on Boeing from $230.00 to $235.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Robert W. Baird reduced their target price on Boeing from $240.00 to $200.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. The Goldman Sachs Group decreased their target price on Boeing from $232.00 to $202.00 and set a “buy” rating for the company in a research report on Tuesday, September 24th. Deutsche Bank Aktiengesellschaft cut their price target on shares of Boeing from $225.00 to $195.00 and set a “buy” rating on the stock in a research report on Thursday, October 3rd. Finally, UBS Group decreased their price objective on shares of Boeing from $215.00 to $195.00 and set a “buy” rating for the company in a report on Thursday, October 24th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Boeing has an average rating of “Hold” and an average price target of $190.37.

Boeing Price Performance

The firm has a market cap of $89.65 billion, a P/E ratio of -11.24 and a beta of 1.57. The business’s 50-day moving average is $152.82 and its two-hundred day moving average is $169.19.

Boeing (NYSE:BA) last announced its quarterly earnings results on Wednesday, October 23rd. The aircraft producer reported ($10.44) EPS for the quarter, missing analysts’ consensus estimates of ($10.34) by ($0.10). The business had revenue of $17.84 billion for the quarter, compared to analysts’ expectations of $17.81 billion. Boeing’s revenue was down 1.5% on a year-over-year basis. During the same period in the prior year, the company posted ($3.26) EPS. Equities research analysts predict that The Boeing Company will post -16.2 EPS for the current year.

Institutional Trading of Boeing

Hedge funds have recently modified their holdings of the stock. Hobbs Group Advisors LLC acquired a new stake in shares of Boeing during the 2nd quarter worth about $34,000. RPg Family Wealth Advisory LLC acquired a new stake in Boeing in the 3rd quarter worth about $28,000. Kiely Wealth Advisory Group Inc. acquired a new stake in Boeing in the 2nd quarter worth about $33,000. Cedar Wealth Management LLC acquired a new stake in Boeing in the 3rd quarter worth about $30,000. Finally, Harel Insurance Investments & Financial Services Ltd. raised its stake in Boeing by 351.1% in 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 in the last quarter. Institutional investors and hedge funds 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.