Boeing (NYSE:BA) Stock Price Up 1.8% – Here’s What Happened

The Boeing Company (NYSE:BA) traded up 1.8% during trading on Wednesday . The company traded as high as $176.72 and last traded at $176.16. 3,229,333 shares changed hands during mid-day trading, a decline of 65% from the average session volume of 9,238,809 shares. The stock had previously closed at $173.03.

Analyst Ratings Changes

A number of brokerages recently commented on BA. The Goldman Sachs Group reduced their price objective on shares of Boeing from $232.00 to $202.00 and set a “buy” rating for the company in a research report on Tuesday, September 24th. Benchmark restated a “buy” rating and issued a $250.00 price target on shares of Boeing in a research note on Thursday, October 24th. Wells Fargo & Company reduced their target price on Boeing from $86.00 to $85.00 and set an “underweight” rating for the company in a report on Monday, November 4th. Morgan Stanley lowered 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. Finally, Northcoast Research raised shares of Boeing from a “sell” rating to a “neutral” rating in a report on Thursday, December 12th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $190.11.

Boeing Stock Up 0.5 %

The company has a market cap of $107.50 billion, a price-to-earnings ratio of -13.48 and a beta of 1.56. The stock has a 50 day simple moving average of $153.51 and a 200 day simple moving average of $165.99.

Boeing (NYSE:BA) last posted 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 business had revenue of $17.84 billion during the quarter, compared to the consensus estimate of $17.81 billion. The firm’s revenue was down 1.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($3.26) EPS. As a group, equities research analysts expect that The Boeing Company will post -16.18 EPS for the current fiscal year.

Institutional Investors Weigh In On Boeing

Hedge funds have recently added to or reduced their stakes in the stock. Wealth Alliance Advisory Group LLC increased its stake in shares of Boeing by 1.6% during the second quarter. Wealth Alliance Advisory Group LLC now owns 3,798 shares of the aircraft producer’s stock worth $691,000 after purchasing an additional 60 shares during the period. IMS Capital Management boosted 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 valued at $2,759,000 after acquiring an additional 62 shares during the period. Peoples Financial Services CORP. grew its stake 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 valued at $1,352,000 after acquiring an additional 67 shares in the last quarter. POM Investment Strategies LLC raised its position in shares of Boeing by 7.0% in the second quarter. POM Investment Strategies LLC now owns 1,070 shares of the aircraft producer’s stock valued at $195,000 after buying an additional 70 shares in the last quarter. Finally, Banque Cantonale Vaudoise grew its holdings in shares of Boeing by 0.9% during the 2nd quarter. Banque Cantonale Vaudoise now owns 7,678 shares of the aircraft producer’s stock worth $1,398,000 after purchasing an additional 70 shares in the last quarter. 64.82% of the stock is currently owned by institutional investors.

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.