Boeing (NYSE:BA) Trading Down 0.6% – Here’s What Happened

The Boeing Company (NYSE:BA)’s share price fell 0.6% during trading on Tuesday . The stock traded as low as $154.51 and last traded at $154.98. 1,173,214 shares were traded during trading, a decline of 85% from the average session volume of 7,978,719 shares. The stock had previously closed at $155.91.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Wells Fargo & Company lowered their price objective on Boeing from $119.00 to $110.00 and set an “underweight” rating on the stock in a report on Tuesday, October 1st. Sanford C. Bernstein dropped their price objective on shares of Boeing from $222.00 to $207.00 and set an “outperform” rating on the stock in a report on Monday, August 5th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Boeing from $225.00 to $195.00 and set a “buy” rating for the company in a research note on Thursday, October 3rd. Stifel Nicolaus boosted their price objective on Boeing from $230.00 to $235.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Finally, Susquehanna reissued a “positive” rating and issued a $230.00 price target on shares of Boeing in a research report on Wednesday, August 14th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $206.00.

Boeing Trading Down 0.5 %

The stock’s 50 day moving average is $164.89 and its 200 day moving average is $174.83. The firm has a market cap of $95.22 billion, a price-to-earnings ratio of -43.66 and a beta of 1.57.

Boeing (NYSE:BA) last posted its quarterly earnings data on Wednesday, July 31st. The aircraft producer reported ($2.90) earnings per share for the quarter, missing the consensus estimate of ($1.00) by ($1.90). The business had revenue of $16.87 billion during the quarter, compared to analysts’ expectations of $17.35 billion. During the same quarter last year, the firm earned ($0.82) EPS. Boeing’s revenue for the quarter was down 14.6% on a year-over-year basis. On average, equities research analysts predict that The Boeing Company will post -4.27 EPS for the current year.

Hedge Funds Weigh In On Boeing

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Kiely Wealth Advisory Group Inc. bought a new stake in Boeing in the second quarter worth approximately $33,000. Vima LLC acquired a new position in shares of Boeing during the fourth quarter valued at about $34,000. Hobbs Group Advisors LLC bought a new stake in Boeing in the 2nd quarter valued at about $34,000. McClarren Financial Advisors Inc. increased its holdings in shares of Boeing by 451.4% during the first quarter. McClarren Financial Advisors Inc. now owns 193 shares of the aircraft producer’s stock valued at $37,000 after acquiring an additional 158 shares in the last quarter. Finally, Accent Capital Management LLC bought a new stake in Boeing during the 4th quarter valued at $39,000. 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.