Boeing (NYSE:BA) Shares Up 0.6% After Analyst Upgrade

The Boeing Company (NYSE:BA) shares rose 0.6% on Friday after Deutsche Bank Aktiengesellschaft raised their price target on the stock from $184.00 to $215.00. Deutsche Bank Aktiengesellschaft currently has a buy rating on the stock. Boeing traded as high as $173.98 and last traded at $172.90. Approximately 2,084,499 shares were traded during trading, a decline of 71% from the average daily volume of 7,121,934 shares. The stock had previously closed at $171.87.

Other research analysts have also recently issued research reports about the company. TD Cowen decreased their price target on Boeing from $200.00 to $190.00 and set a “buy” rating for the company in a research note on Monday, October 14th. UBS Group lowered their target price on shares of Boeing from $215.00 to $195.00 and set a “buy” rating on the stock in a research note on Thursday, October 24th. Robert W. Baird reduced their price target on shares of Boeing from $240.00 to $200.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Morgan Stanley lowered their price objective on shares of Boeing from $195.00 to $170.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 24th. Finally, Jefferies Financial Group cut their target price on shares of Boeing from $270.00 to $240.00 and set a “buy” rating for the company in a research report on Monday, September 23rd. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $191.16.

Hedge Funds Weigh In On Boeing

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. RPg Family Wealth Advisory LLC bought a new position in shares of Boeing during the 3rd quarter valued at approximately $28,000. Cedar Wealth Management LLC bought a new position in Boeing during the third quarter valued at $30,000. Kiely Wealth Advisory Group Inc. purchased a new position in shares of Boeing in the 2nd quarter worth $33,000. Strategic Financial Concepts LLC bought a new stake in shares of Boeing in the 2nd quarter worth about $41,000. Finally, Planning Capital Management Corp raised its position in shares of Boeing by 741.0% during the 3rd quarter. Planning Capital Management Corp now owns 328 shares of the aircraft producer’s stock valued at $50,000 after buying an additional 289 shares in the last quarter. 64.82% of the stock is owned by institutional investors.

Boeing Price Performance

The company has a 50-day moving average of $158.80 and a 200 day moving average of $165.49. The company has a market cap of $106.89 billion, a PE ratio of -13.40 and a beta of 1.56.

Boeing (NYSE:BA) last posted its quarterly earnings data 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 company had revenue of $17.84 billion during the quarter, compared to the consensus estimate of $17.81 billion. During the same period in the prior year, the firm posted ($3.26) EPS. The firm’s revenue for the quarter was down 1.5% compared to the same quarter last year. Equities research analysts expect that The Boeing Company will post -16.18 EPS for the current year.

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.