Boeing (NYSE:BA) Stock Price Up 1% – Here’s What Happened

The Boeing Company (NYSE:BA)’s stock price shot up 1% during mid-day trading on Monday . The stock traded as high as $153.28 and last traded at $150.79. 3,399,351 shares changed hands during mid-day trading, a decline of 63% from the average session volume of 9,171,703 shares. The stock had previously closed at $149.29.

Analysts Set New Price Targets

Several analysts have recently commented on BA shares. Royal Bank of Canada reaffirmed an “outperform” rating and set a $200.00 price target on shares of Boeing in a research report on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft reduced their price target on Boeing from $225.00 to $195.00 and set a “buy” rating on the stock in a research report on Thursday, October 3rd. 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. Wells Fargo & Company dropped their price target on shares of Boeing from $86.00 to $85.00 and set an “underweight” rating on the stock in a research note on Monday, November 4th. Finally, Susquehanna decreased their target price on Boeing from $210.00 to $200.00 and set a “positive” rating for the company in a research report on Thursday, October 24th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $190.11.

Boeing Trading Up 2.5 %

The company has a market cap of $94.63 billion, a price-to-earnings ratio of -11.69 and a beta of 1.57. The stock has a 50 day moving average price of $151.70 and a two-hundred day moving average price of $168.27.

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 firm had revenue of $17.84 billion for the quarter, compared to the consensus estimate of $17.81 billion. During the same period last year, the company earned ($3.26) earnings per share. The firm’s quarterly revenue was down 1.5% compared to the same quarter last year. On average, equities analysts forecast that The Boeing Company will post -16.2 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Madison Park Capital Advisors LLC lifted its position in Boeing by 4.9% during the second quarter. Madison Park Capital Advisors LLC now owns 1,204 shares of the aircraft producer’s stock valued at $219,000 after buying an additional 56 shares in the last quarter. Wealth Alliance Advisory Group LLC increased its holdings in Boeing by 1.6% in the 2nd quarter. Wealth Alliance Advisory Group LLC now owns 3,798 shares of the aircraft producer’s stock valued at $691,000 after purchasing an additional 60 shares in the last quarter. IMS Capital Management lifted its stake in shares of Boeing by 0.4% during the second quarter. IMS Capital Management now owns 16,032 shares of the aircraft producer’s stock worth $2,759,000 after purchasing an additional 62 shares in the last quarter. ADE LLC boosted its position in shares of Boeing by 4.4% in the second quarter. ADE LLC now owns 1,539 shares of the aircraft producer’s stock worth $280,000 after buying an additional 65 shares during the period. Finally, Peoples Financial Services CORP. raised its holdings in shares of Boeing by 0.8% during the 3rd quarter. Peoples Financial Services CORP. now owns 8,893 shares of the aircraft producer’s stock valued at $1,352,000 after buying an additional 67 shares during the period. 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.