Boeing (NYSE:BA) Stock Price Up 3.2% – Here’s What Happened

The Boeing Company (NYSE:BA) shares rose 3.2% on Friday . The company traded as high as $157.50 and last traded at $157.26. Approximately 3,328,371 shares changed hands during trading, a decline of 64% from the average daily volume of 9,157,506 shares. The stock had previously closed at $152.40.

Analyst Upgrades and Downgrades

BA has been the topic of a number of recent research reports. TD Cowen lowered their price target on shares of Boeing from $200.00 to $190.00 and set a “buy” rating on the stock in a research report on Monday, October 14th. Citigroup reduced their target price on shares of Boeing from $224.00 to $209.00 and set a “buy” rating on the stock in a research note on Tuesday, October 15th. Morgan Stanley reduced their price target on shares of Boeing from $195.00 to $170.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 24th. Jefferies Financial Group reduced their price target on shares of Boeing from $270.00 to $240.00 and set a “buy” rating on the stock in a research note on Monday, September 23rd. Finally, Wells Fargo & Company reduced 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. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Boeing has a consensus rating of “Hold” and an average price target of $190.11.

Boeing Trading Up 2.3 %

The company has a market cap of $96.37 billion, a price-to-earnings ratio of -12.19 and a beta of 1.57. The firm’s fifty day simple moving average is $151.44 and its 200 day simple moving average is $167.67.

Boeing (NYSE:BA) last issued its earnings results 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 analyst estimates of $17.81 billion. During the same period last year, the firm posted ($3.26) EPS. The company’s quarterly revenue was down 1.5% on a year-over-year basis. As a group, sell-side analysts expect that The Boeing Company will post -16.19 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. RPg Family Wealth Advisory LLC purchased a new stake in Boeing in the 3rd quarter valued at $28,000. Cedar Wealth Management LLC purchased a new stake in Boeing in the 3rd quarter valued at $30,000. Kiely Wealth Advisory Group Inc. purchased a new stake in Boeing in the 2nd quarter valued at $33,000. Hobbs Group Advisors LLC purchased a new stake in Boeing in the 2nd quarter valued at $34,000. Finally, Harel Insurance Investments & Financial Services Ltd. raised its position 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 valued at $39,000 after purchasing an additional 165 shares during 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.