Boeing (NYSE:BA) Stock Price Up 1.3% – What’s Next?

The Boeing Company (NYSE:BA)’s stock price rose 1.3% during mid-day trading on Monday . The company traded as high as $171.77 and last traded at $171.14. Approximately 9,537,359 shares were traded during trading, an increase of 1% from the average daily volume of 9,471,018 shares. The stock had previously closed at $168.93.

Analyst Upgrades and Downgrades

BA has been the subject of a number of analyst reports. Royal Bank of Canada reiterated an “outperform” rating and set a $200.00 target price on shares of Boeing in a report on Wednesday, October 30th. Morgan Stanley decreased their target price on Boeing from $195.00 to $170.00 and set an “equal weight” rating for the company in a report on Thursday, October 24th. JPMorgan Chase & Co. cut their price target on shares of Boeing from $195.00 to $190.00 and set an “overweight” rating on the stock in a report on Monday, November 25th. The Goldman Sachs Group reduced their price objective 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. Finally, Robert W. Baird dropped their target price on shares of Boeing from $240.00 to $200.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $192.21.

Boeing Trading Up 1.3 %

The firm has a market capitalization of $105.80 billion, a P/E ratio of -13.27 and a beta of 1.52. The company has a 50 day simple moving average of $163.15 and a two-hundred day simple moving average of $164.61.

Boeing (NYSE:BA) last issued 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 firm had revenue of $17.84 billion during the quarter, compared to analysts’ expectations of $17.81 billion. The company’s revenue was down 1.5% on a year-over-year basis. During the same quarter last year, the business earned ($3.26) earnings per share. On average, sell-side analysts expect that The Boeing Company will post -16.43 EPS for the current fiscal year.

Institutional Trading of Boeing

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Hedges Asset Management LLC grew its stake in shares of Boeing by 21.4% during the fourth quarter. Hedges Asset Management LLC now owns 31,420 shares of the aircraft producer’s stock valued at $5,561,000 after buying an additional 5,545 shares during the last quarter. IVC Wealth Advisors LLC purchased a new position in Boeing during the 4th quarter valued at $227,000. Madrona Financial Services LLC grew its position in Boeing by 4.7% in the 4th quarter. Madrona Financial Services LLC now owns 9,808 shares of the aircraft producer’s stock valued at $1,736,000 after acquiring an additional 437 shares during the last quarter. Whalen Wealth Management Inc. bought a new stake in shares of Boeing during the fourth quarter worth $815,000. Finally, Teamwork Financial Advisors LLC purchased a new stake in shares of Boeing during the fourth quarter valued at $1,541,000. 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.