Boeing (NYSE:BA) Trading Up 1% – What’s Next?

The Boeing Company (NYSE:BA)’s share price traded up 1% on Friday . The company traded as high as $179.33 and last traded at $178.80. 4,478,785 shares were traded during trading, a decline of 52% from the average session volume of 9,290,008 shares. The stock had previously closed at $177.04.

Analyst Ratings Changes

A number of research firms recently issued reports on BA. UBS Group decreased their target price on Boeing from $215.00 to $195.00 and set a “buy” rating for the company in a report on Thursday, October 24th. Royal Bank of Canada reissued an “outperform” rating and set a $200.00 price objective on shares of Boeing in a research report on Wednesday, October 30th. Morgan Stanley cut their price target on Boeing from $195.00 to $170.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 24th. JPMorgan Chase & Co. lowered their target price on shares of Boeing from $195.00 to $190.00 and set an “overweight” rating for the company in a report on Monday, November 25th. Finally, DZ Bank lowered Boeing from a “buy” rating to a “hold” rating and set a $152.00 price target on the stock. in a research report on Tuesday, October 15th. Two analysts have rated the stock with a sell rating, ten have given a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Boeing presently has an average rating of “Hold” and an average target price of $190.11.

Boeing Stock Performance

The company has a market cap of $109.64 billion, a PE ratio of -13.75 and a beta of 1.56. The firm has a fifty day simple moving average of $155.10 and a 200 day simple moving average of $165.90.

Boeing (NYSE:BA) last posted 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 analyst estimates of $17.81 billion. The company’s quarterly revenue was down 1.5% on a year-over-year basis. During the same quarter last year, the firm earned ($3.26) EPS. As a group, equities analysts predict that The Boeing Company will post -16.18 EPS for the current fiscal year.

Institutional Investors Weigh In On Boeing

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