Boeing (NYSE:BA) Trading Down 0.5% – What’s Next?

The Boeing Company (NYSE:BA) fell 0.5% on Tuesday . The company traded as low as $154.42 and last traded at $155.68. 1,628,165 shares changed hands during mid-day trading, a decline of 82% from the average session volume of 9,147,701 shares. The stock had previously closed at $156.54.

Analysts Set New Price Targets

A number of equities analysts recently commented on BA shares. Morgan Stanley decreased their price objective on shares of Boeing from $195.00 to $170.00 and set an “equal weight” rating for the company in a research note on Thursday, October 24th. TD Cowen dropped 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. Deutsche Bank Aktiengesellschaft cut their target price on shares of Boeing from $225.00 to $195.00 and set a “buy” rating for the company in a research report on Thursday, October 3rd. Benchmark restated a “buy” rating and set a $250.00 price target on shares of Boeing in a report on Thursday, October 24th. Finally, Susquehanna cut their price target on Boeing from $210.00 to $200.00 and set a “positive” rating for the company in a research note on Thursday, October 24th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Boeing has a consensus rating of “Hold” and a consensus target price of $190.11.

Boeing Stock Performance

The company has a market cap of $96.65 billion, a price-to-earnings ratio of -12.07 and a beta of 1.56. The company’s 50 day moving average price is $151.48 and its 200 day moving average price is $167.35.

Boeing (NYSE:BA) last released its quarterly earnings results on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share for the quarter, missing analysts’ consensus estimates of ($10.34) by ($0.10). The company had revenue of $17.84 billion during 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 company earned ($3.26) earnings per share. As a group, analysts predict that The Boeing Company will post -16.19 EPS for the current year.

Institutional Trading of Boeing

Several institutional investors and hedge funds have recently added to or reduced their stakes in BA. RPg Family Wealth Advisory LLC acquired a new stake in shares of Boeing during the third quarter worth $28,000. Cedar Wealth Management LLC acquired a new position in shares of Boeing during the 3rd quarter worth about $30,000. Kiely Wealth Advisory Group Inc. acquired a new stake in shares of Boeing in the 2nd quarter valued at approximately $33,000. Hobbs Group Advisors LLC bought a new position in Boeing during the 2nd quarter worth approximately $34,000. Finally, Harel Insurance Investments & Financial Services Ltd. grew its holdings in Boeing by 351.1% during the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 212 shares of the aircraft producer’s stock valued at $39,000 after purchasing an additional 165 shares during the period. 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.