Boeing (NYSE:BA) Stock Price Down 1.6% – What’s Next?

The Boeing Company (NYSE:BA)’s stock price was down 1.6% during trading on Friday . The company traded as low as $168.55 and last traded at $168.94. Approximately 1,953,247 shares traded hands during mid-day trading, a decline of 76% from the average daily volume of 7,984,116 shares. The stock had previously closed at $171.76.

Analyst Ratings Changes

Several analysts have issued reports on the company. Citigroup dropped their target price on Boeing from $224.00 to $209.00 and set a “buy” rating on the stock in a research report on Tuesday, October 15th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $200.00 price target on shares of Boeing in a research report on Wednesday, October 30th. TD Cowen cut their price objective on shares of Boeing from $200.00 to $190.00 and set a “buy” rating on the stock in a research note on Monday, October 14th. Barclays raised shares of Boeing from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $190.00 to $210.00 in a research note on Monday. Finally, The Goldman Sachs Group lowered their price target on shares of Boeing from $232.00 to $202.00 and set a “buy” rating on the stock in a research report on Tuesday, September 24th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $192.21.

Boeing Stock Up 0.9 %

The firm has a market cap of $107.18 billion, a price-to-earnings ratio of -13.44 and a beta of 1.52. The stock has a fifty day moving average price of $161.04 and a 200-day moving average price of $165.37.

Boeing (NYSE:BA) last announced its earnings results on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share for the quarter, missing the consensus estimate of ($10.34) by ($0.10). The company had revenue of $17.84 billion for the quarter, compared to analysts’ expectations of $17.81 billion. During the same period last year, the firm earned ($3.26) earnings per share. The company’s revenue was down 1.5% compared to the same quarter last year. As a group, research analysts expect that The Boeing Company will post -16.18 earnings per share for the current year.

Institutional Trading of Boeing

Hedge funds have recently made changes to their positions in the company. RPg Family Wealth Advisory LLC purchased a new stake in Boeing during the 3rd quarter worth approximately $28,000. Cedar Wealth Management LLC acquired a new stake in shares of Boeing during the third quarter worth approximately $30,000. Kiely Wealth Advisory Group Inc. bought a new stake in shares of Boeing in the second quarter worth $33,000. Strategic Financial Concepts LLC acquired a new stake in Boeing in the second quarter valued at $41,000. Finally, Planning Capital Management Corp boosted its stake in 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 acquiring an additional 289 shares during the last quarter. Hedge funds and other 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.