Boeing (NYSE:BA) Shares Gap Down – What’s Next?

The Boeing Company (NYSE:BA)’s stock price gapped down before the market opened on Monday . The stock had previously closed at $180.72, but opened at $173.72. Boeing shares last traded at $172.80, with a volume of 6,847,416 shares changing hands.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. UBS Group cut their target price on Boeing from $215.00 to $195.00 and set a “buy” rating for the company in a research report on Thursday, October 24th. Citigroup reduced their price objective on shares of Boeing from $224.00 to $209.00 and set a “buy” rating on the stock in a research report on Tuesday, October 15th. Wells Fargo & Company dropped their target price on shares of Boeing from $86.00 to $85.00 and set an “underweight” rating for the company in a research report on Monday, November 4th. Sanford C. Bernstein downgraded shares of Boeing from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $195.00 to $169.00 in a report on Wednesday, October 30th. Finally, Morgan Stanley dropped their price objective on shares of Boeing from $195.00 to $170.00 and set an “equal weight” rating for the company in a report on Thursday, October 24th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $190.11.

Boeing Trading Down 1.7 %

The company has a market capitalization of $109.82 billion, a price-to-earnings ratio of -13.77 and a beta of 1.56. The company has a fifty day moving average of $157.72 and a 200-day moving average of $165.44.

Boeing (NYSE:BA) last announced its earnings results 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 for 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 business posted ($3.26) earnings per share. As a group, equities research analysts expect that The Boeing Company will post -16.18 EPS for the current year.

Institutional Investors Weigh In On Boeing

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Lantz Financial LLC boosted its holdings in Boeing by 109.7% in the second quarter. Lantz Financial LLC now owns 2,695 shares of the aircraft producer’s stock valued at $491,000 after purchasing an additional 1,410 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of Boeing by 2.7% during the second quarter. Allspring Global Investments Holdings LLC now owns 37,395 shares of the aircraft producer’s stock worth $6,806,000 after acquiring an additional 981 shares during the last quarter. Hantz Financial Services Inc. purchased a new stake in Boeing in the 2nd quarter valued at $166,000. IFG Advisory LLC acquired a new position in Boeing in the second quarter valued at $543,000. Finally, Banque Cantonale Vaudoise boosted its stake in shares of Boeing by 0.9% during the second quarter. Banque Cantonale Vaudoise now owns 7,678 shares of the aircraft producer’s stock worth $1,398,000 after buying an additional 70 shares during the period. Institutional investors and hedge funds own 64.82% of the company’s stock.

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.