Boeing (NYSE:BA) Trading Down 0.5% – Here’s Why

The Boeing Company (NYSE:BA) shares were down 0.5% during mid-day trading on Friday . The stock traded as low as $178.37 and last traded at $178.65. Approximately 1,529,496 shares were traded during mid-day trading, a decline of 82% from the average daily volume of 8,514,392 shares. The stock had previously closed at $179.53.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on BA shares. Morgan Stanley lowered their target price on Boeing from $195.00 to $170.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 24th. Northcoast Research upgraded Boeing from a “sell” rating to a “neutral” rating in a research note on Thursday, December 12th. Susquehanna boosted their target price on Boeing from $200.00 to $205.00 and gave the company a “positive” rating in a research note on Wednesday. Benchmark restated a “buy” rating and issued a $250.00 target price on shares of Boeing in a research note on Thursday, October 24th. Finally, Sanford C. Bernstein lowered Boeing from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $195.00 to $169.00 in a research note on Wednesday, October 30th. Two analysts have rated the stock with a sell rating, eight have given a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $195.00.

Boeing Trading Down 1.8 %

The stock has a market capitalization of $109.04 billion, a P/E ratio of -9.62 and a beta of 1.52. The stock’s fifty day moving average price is $168.96 and its two-hundred day moving average price is $164.37.

Boeing (NYSE:BA) last issued its earnings results on Tuesday, January 28th. The aircraft producer reported ($5.90) EPS for the quarter, missing the consensus estimate of ($1.60) by ($4.30). During the same period in the prior year, the firm earned ($0.47) EPS. As a group, analysts expect that The Boeing Company will post -1.61 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Chaney Capital Management Inc. raised its stake in shares of Boeing by 2.1% in the fourth quarter. Chaney Capital Management Inc. now owns 2,870 shares of the aircraft producer’s stock worth $508,000 after purchasing an additional 58 shares during the last quarter. Farmers & Merchants Investments Inc. grew its holdings in Boeing by 0.6% during the fourth quarter. Farmers & Merchants Investments Inc. now owns 10,608 shares of the aircraft producer’s stock worth $1,878,000 after acquiring an additional 59 shares during the period. Center for Financial Planning Inc. grew its holdings in Boeing by 12.0% during the fourth quarter. Center for Financial Planning Inc. now owns 562 shares of the aircraft producer’s stock worth $99,000 after acquiring an additional 60 shares during the period. Beacon Capital Management LLC grew its holdings in Boeing by 4.0% during the fourth quarter. Beacon Capital Management LLC now owns 1,709 shares of the aircraft producer’s stock worth $302,000 after acquiring an additional 65 shares during the period. Finally, Sterneck Capital Management LLC grew its holdings in Boeing by 2.3% during the fourth quarter. Sterneck Capital Management LLC now owns 2,992 shares of the aircraft producer’s stock worth $530,000 after acquiring an additional 66 shares during the period. 64.82% of the stock is owned by hedge funds and other institutional investors.

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.