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

The Boeing Company (NYSE:BA) rose 1% on Wednesday . The stock traded as high as $155.60 and last traded at $154.51. Approximately 7,814,065 shares were traded during mid-day trading, a decline of 8% from the average daily volume of 8,465,955 shares. The stock had previously closed at $152.98.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on BA shares. Benchmark reissued a “buy” rating and issued a $250.00 price target on shares of Boeing in a report on Thursday, October 24th. Citigroup dropped their price target on Boeing from $224.00 to $209.00 and set a “buy” rating on the stock in a research report on Tuesday, October 15th. Jefferies Financial Group dropped their price target on Boeing from $270.00 to $240.00 and set a “buy” rating on the stock in a research report on Monday, September 23rd. DZ Bank cut 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, Stifel Nicolaus raised their target price on Boeing from $230.00 to $235.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. 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 assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $190.42.

Boeing Trading Up 3.2 %

The stock has a market capitalization of $95.29 billion, a price-to-earnings ratio of -11.93 and a beta of 1.57. The stock’s 50 day moving average is $157.86 and its two-hundred day moving average is $171.09.

Boeing (NYSE:BA) last announced its quarterly earnings data 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 firm had revenue of $17.84 billion during the quarter, compared to the consensus estimate of $17.81 billion. During the same period last year, the firm earned ($3.26) EPS. Boeing’s quarterly revenue was down 1.5% compared to the same quarter last year. On average, research analysts anticipate that The Boeing Company will post -16.22 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of Boeing by 2.5% during the first quarter. Vanguard Group Inc. now owns 49,724,770 shares of the aircraft producer’s stock worth $9,596,383,000 after buying an additional 1,222,816 shares during the last quarter. Newport Trust Company LLC lifted its holdings in shares of Boeing by 1.2% during the second quarter. Newport Trust Company LLC now owns 31,640,184 shares of the aircraft producer’s stock worth $5,758,830,000 after purchasing an additional 388,633 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in shares of Boeing by 1.4% during the second quarter. Massachusetts Financial Services Co. MA now owns 7,619,126 shares of the aircraft producer’s stock worth $1,386,757,000 after purchasing an additional 106,513 shares during the period. Jennison Associates LLC lifted its holdings in shares of Boeing by 14.1% during the first quarter. Jennison Associates LLC now owns 4,203,435 shares of the aircraft producer’s stock worth $811,221,000 after purchasing an additional 518,952 shares during the period. Finally, Legal & General Group Plc lifted its holdings in shares of Boeing by 2.0% during the second quarter. Legal & General Group Plc now owns 3,432,485 shares of the aircraft producer’s stock worth $624,749,000 after purchasing an additional 67,474 shares during the period. 64.82% of the stock is owned by institutional investors.

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.