Boeing (NYSE:BA) Stock Price Up 0% – Here’s Why

The Boeing Company (NYSE:BA) rose 0% on Wednesday . The company traded as high as $169.99 and last traded at $167.09. Approximately 1,973,935 shares traded hands during trading, a decline of 74% from the average daily volume of 7,728,913 shares. The stock had previously closed at $167.02.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on BA shares. The Goldman Sachs Group reduced their target price on Boeing from $232.00 to $202.00 and set a “buy” rating on the stock in a research report on Tuesday, September 24th. Citigroup reduced 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. Sanford C. Bernstein lowered Boeing from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $195.00 to $169.00 in a research report on Wednesday, October 30th. UBS Group reduced their target price on Boeing from $215.00 to $195.00 and set a “buy” rating on the stock in a research report on Thursday, October 24th. Finally, JPMorgan Chase & Co. reduced their target price on Boeing from $195.00 to $190.00 and set an “overweight” rating on the stock in a research report on Monday, November 25th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $192.21.

Boeing Stock Performance

The stock has a market capitalization of $103.49 billion, a price-to-earnings ratio of -12.98 and a beta of 1.52. The company has a 50 day moving average of $162.02 and a 200 day moving average of $164.97.

Boeing (NYSE:BA) last released its 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 analysts’ expectations of $17.81 billion. During the same period last year, the firm earned ($3.26) earnings per share. Boeing’s quarterly 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 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. RPg Family Wealth Advisory LLC purchased a new stake in Boeing during the 3rd quarter valued at approximately $28,000. Kiely Wealth Advisory Group Inc. acquired a new stake in Boeing during the 2nd quarter valued at $33,000. Cedar Wealth Management LLC acquired a new stake in Boeing during the 3rd quarter valued at $30,000. Fairscale Capital LLC acquired a new stake in Boeing during the 2nd quarter valued at $59,000. Finally, Planning Capital Management Corp grew its holdings 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 buying an additional 289 shares during the last quarter. 64.82% of the stock is owned by institutional investors and hedge funds.

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.