Boeing (NYSE:BA) Trading 0.9% Higher – What’s Next?

Shares of The Boeing Company (NYSE:BA) were up 0.9% on Wednesday . The company traded as high as $180.95 and last traded at $179.34. Approximately 4,316,969 shares changed hands during mid-day trading, a decline of 54% from the average daily volume of 9,345,203 shares. The stock had previously closed at $177.69.

Analyst Ratings Changes

Several research firms recently weighed in on BA. Citigroup reduced their target price on Boeing from $224.00 to $209.00 and set a “buy” rating for the company in a report on Tuesday, October 15th. Robert W. Baird decreased their price objective on shares of Boeing from $240.00 to $200.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Boeing from $225.00 to $195.00 and set a “buy” rating on the stock in a report on Thursday, October 3rd. DZ Bank cut shares of Boeing from a “buy” rating to a “hold” rating and set a $152.00 price target for the company. in a report on Tuesday, October 15th. Finally, TD Cowen dropped their price objective on Boeing from $200.00 to $190.00 and set a “buy” rating on the stock in a research note on Monday, October 14th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Boeing has an average rating of “Hold” and a consensus price target of $190.11.

Boeing Price Performance

The firm has a market cap of $111.51 billion, a P/E ratio of -13.98 and a beta of 1.56. The stock’s 50 day moving average is $157.21 and its two-hundred day moving average is $165.76.

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 analysts’ consensus estimates of ($10.34) by ($0.10). The firm had revenue of $17.84 billion during the quarter, compared to analyst estimates of $17.81 billion. The company’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same period in the previous year, the firm posted ($3.26) earnings per share. As a group, research analysts forecast that The Boeing Company will post -16.18 EPS for the current fiscal year.

Institutional Investors Weigh In On Boeing

A number of hedge funds have recently made changes to their positions in the company. RPg Family Wealth Advisory LLC bought a new stake in Boeing during the third quarter worth about $28,000. Cedar Wealth Management LLC bought a new stake in Boeing during the 3rd quarter worth approximately $30,000. Kiely Wealth Advisory Group Inc. acquired a new stake in Boeing during the 2nd quarter valued at $33,000. Strategic Financial Concepts LLC bought a new position in Boeing in the 2nd quarter valued at $41,000. Finally, Planning Capital Management Corp boosted its stake in Boeing by 741.0% in the third quarter. Planning Capital Management Corp now owns 328 shares of the aircraft producer’s stock worth $50,000 after purchasing an additional 289 shares in the last quarter. Institutional investors and hedge funds 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.