Boeing (NYSE:BA) Shares Up 1% – Here’s Why

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

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Sanford C. Bernstein downgraded shares of Boeing from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $195.00 to $169.00 in a research note on Wednesday, October 30th. Robert W. Baird decreased their price objective on shares of Boeing from $240.00 to $200.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. Wells Fargo & Company cut their target price on Boeing from $86.00 to $85.00 and set an “underweight” rating for the company in a research note on Monday, November 4th. Benchmark reiterated a “buy” rating and issued a $250.00 price target on shares of Boeing in a research note on Thursday, October 24th. Finally, Citigroup lowered their price target on Boeing from $224.00 to $209.00 and set a “buy” rating for the company in a report on Tuesday, October 15th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $190.11.

Boeing Trading Up 1.1 %

The stock has a market cap of $94.23 billion, a P/E ratio of -11.82 and a beta of 1.57. The business has a 50-day simple moving average of $151.48 and a 200 day simple moving average of $167.77.

Boeing (NYSE:BA) last announced its earnings results on Wednesday, October 23rd. The aircraft producer reported ($10.44) EPS for the quarter, missing the consensus estimate of ($10.34) by ($0.10). The company had revenue of $17.84 billion during the quarter, compared to analyst estimates of $17.81 billion. During the same quarter in the previous year, the firm earned ($3.26) EPS. Boeing’s revenue was down 1.5% compared to the same quarter last year. As a group, equities analysts expect that The Boeing Company will post -16.2 earnings per share for the current year.

Institutional Trading of Boeing

A number of large investors have recently bought and sold shares of BA. RPg Family Wealth Advisory LLC acquired a new stake in Boeing during the third quarter worth approximately $28,000. Cedar Wealth Management LLC acquired a new stake in shares of Boeing during the 3rd quarter worth approximately $30,000. Kiely Wealth Advisory Group Inc. bought a new stake in shares of Boeing in the 2nd quarter valued at $33,000. Hobbs Group Advisors LLC acquired a new position in shares of Boeing during the 2nd quarter valued at $34,000. Finally, Harel Insurance Investments & Financial Services Ltd. boosted its stake 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 worth $39,000 after acquiring an additional 165 shares in the last quarter. 64.82% of the stock is currently owned by institutional investors and hedge funds.

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.