Boeing (NYSE:BA) Trading Up 2.5% – Here’s What Happened

The Boeing Company (NYSE:BA) shares rose 2.5% on Thursday . The company traded as high as $150.99 and last traded at $150.85. Approximately 4,506,396 shares changed hands during trading, a decline of 50% from the average daily volume of 8,958,565 shares. The stock had previously closed at $147.16.

Analysts Set New Price Targets

BA has been the topic of a number of recent research reports. Susquehanna reduced their price objective on shares of Boeing from $210.00 to $200.00 and set a “positive” rating on the stock in a research note on Thursday, October 24th. DZ Bank downgraded Boeing from a “buy” rating to a “hold” rating and set a $152.00 price objective for the company. in a report on Tuesday, October 15th. Sanford C. Bernstein lowered Boeing from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $195.00 to $169.00 in a research report on Wednesday, October 30th. TD Cowen cut their target price on shares of Boeing from $200.00 to $190.00 and set a “buy” rating on the stock in a report on Monday, October 14th. Finally, Stifel Nicolaus raised their price objective on shares of Boeing from $230.00 to $235.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $190.37.

Boeing Trading Up 3.1 %

The firm has a 50-day simple moving average of $156.17 and a two-hundred day simple moving average of $170.60. The stock has a market cap of $93.80 billion, a P/E ratio of -11.69 and a beta of 1.57.

Boeing (NYSE:BA) last released its earnings results on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share 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 analysts’ expectations of $17.81 billion. During the same period last year, the firm posted ($3.26) EPS. The business’s revenue for the quarter was down 1.5% on a year-over-year basis. Sell-side analysts predict that The Boeing Company will post -16.13 earnings per share for the current year.

Institutional Trading of Boeing

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Hobbs Group Advisors LLC bought a new position in shares of Boeing during the second quarter valued at $34,000. Kiely Wealth Advisory Group Inc. bought a new position in Boeing during the 2nd quarter worth $33,000. Harel Insurance Investments & Financial Services Ltd. lifted its holdings in Boeing by 351.1% during the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 212 shares of the aircraft producer’s stock worth $39,000 after buying an additional 165 shares during the period. 1620 Investment Advisors Inc. bought a new stake in shares of Boeing in the 2nd quarter valued at about $39,000. Finally, Pathway Financial Advisers LLC acquired a new stake in shares of Boeing in the first quarter valued at about $53,000. Institutional investors 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.