Boeing (NYSE:BA) Shares Up 2.5% – Here’s Why

The Boeing Company (NYSE:BA)’s share price traded up 2.5% during trading on Thursday . The stock traded as high as $150.99 and last traded at $150.85. 4,506,396 shares were traded during mid-day trading, a decline of 50% from the average session volume of 8,958,565 shares. The stock had previously closed at $147.16.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Robert W. Baird dropped their price target on shares of Boeing from $240.00 to $200.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. Wells Fargo & Company dropped their price target on shares of Boeing from $86.00 to $85.00 and set an “underweight” rating on the stock in a research report on Monday, November 4th. UBS Group dropped their price target on shares of Boeing from $215.00 to $195.00 and set a “buy” rating on the stock in a research report on Thursday, October 24th. DZ Bank cut shares of 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. Finally, JPMorgan Chase & Co. cut their price objective on Boeing from $235.00 to $195.00 and set an “overweight” rating on the stock in a report on Monday, October 14th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $190.37.

Boeing Stock Performance

The firm has a market cap of $93.82 billion, a P/E ratio of -11.77 and a beta of 1.57. The company has a 50 day moving average of $155.31 and a 200 day moving average of $170.34.

Boeing (NYSE:BA) last announced its quarterly earnings results on Wednesday, October 23rd. The aircraft producer reported ($10.44) EPS for the quarter, missing the consensus estimate of ($10.34) by ($0.10). The company had revenue of $17.84 billion during the quarter, compared to analyst estimates of $17.81 billion. The business’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same period last year, the firm posted ($3.26) earnings per share. As a group, analysts expect that The Boeing Company will post -16.09 EPS for the current fiscal year.

Institutional Investors Weigh In On Boeing

Large investors have recently added to or reduced their stakes in the stock. Lazari Capital Management Inc. boosted its position in Boeing by 55.7% during the second quarter. Lazari Capital Management Inc. now owns 23,216 shares of the aircraft producer’s stock worth $4,226,000 after purchasing an additional 8,309 shares during the period. Czech National Bank boosted its position in Boeing by 8.4% during the third quarter. Czech National Bank now owns 119,243 shares of the aircraft producer’s stock worth $18,130,000 after purchasing an additional 9,281 shares during the period. BSN CAPITAL PARTNERS Ltd bought a new stake in Boeing during the third quarter worth approximately $11,237,000. Sanctuary Advisors LLC bought a new stake in Boeing during the second quarter worth approximately $21,405,000. Finally, Canal Insurance CO bought a new stake in shares of Boeing in the third quarter valued at approximately $1,520,000. 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.