Boeing (NYSE:BA) Shares Up 2.8% – Here’s Why

Shares of The Boeing Company (NYSE:BA) were up 2.8% during mid-day trading on Friday . The stock traded as high as $147.77 and last traded at $147.36. 2,824,480 shares changed hands during trading, a decline of 69% from the average daily volume of 9,150,751 shares. The stock had previously closed at $143.41.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on BA. The Goldman Sachs Group lowered their target price on Boeing from $232.00 to $202.00 and set a “buy” rating on the stock in a research note on Tuesday, September 24th. Deutsche Bank Aktiengesellschaft dropped their target price on Boeing from $225.00 to $195.00 and set a “buy” rating for the company in a report on Thursday, October 3rd. UBS Group dropped their target price on Boeing from $215.00 to $195.00 and set a “buy” rating for the company in a report on Thursday, October 24th. Stifel Nicolaus lifted their target price on Boeing from $230.00 to $235.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Finally, TD Cowen dropped their target price on Boeing from $200.00 to $190.00 and set a “buy” rating for the company in a report on Monday, October 14th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $190.37.

Boeing Stock Up 4.6 %

The company has a 50 day simple moving average of $151.85 and a 200-day simple moving average of $168.62. The stock has a market capitalization of $92.72 billion, a price-to-earnings ratio of -11.42 and a beta of 1.57.

Boeing (NYSE:BA) last issued its 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 firm had revenue of $17.84 billion during the quarter, compared to the consensus estimate of $17.81 billion. During the same quarter last year, the firm earned ($3.26) earnings per share. The firm’s revenue for the quarter was down 1.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that The Boeing Company will post -16.2 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Boeing

Several institutional investors have recently bought and sold shares of the stock. Madison Park Capital Advisors LLC lifted its position in shares of Boeing by 4.9% in the second quarter. Madison Park Capital Advisors LLC now owns 1,204 shares of the aircraft producer’s stock worth $219,000 after buying an additional 56 shares in the last quarter. Wealth Alliance Advisory Group LLC lifted its position in shares of Boeing by 1.6% in the second quarter. Wealth Alliance Advisory Group LLC now owns 3,798 shares of the aircraft producer’s stock worth $691,000 after buying an additional 60 shares in the last quarter. IMS Capital Management lifted its position in shares of Boeing by 0.4% in the second quarter. IMS Capital Management now owns 16,032 shares of the aircraft producer’s stock worth $2,759,000 after buying an additional 62 shares in the last quarter. ADE LLC lifted 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 in the last quarter. Finally, Peoples Financial Services CORP. lifted its position in shares of Boeing by 0.8% in the third quarter. Peoples Financial Services CORP. now owns 8,893 shares of the aircraft producer’s stock worth $1,352,000 after buying an additional 67 shares in 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.