Boeing (NYSE:BA) Stock Price Up 3.2% – Here’s What Happened

The Boeing Company (NYSE:BA)’s share price was up 3.2% during trading on Friday . The company traded as high as $157.50 and last traded at $157.26. Approximately 3,328,371 shares traded hands during trading, a decline of 64% from the average daily volume of 9,157,506 shares. The stock had previously closed at $152.40.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on BA shares. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Boeing from $225.00 to $195.00 and set a “buy” rating for the company in a research report on Thursday, October 3rd. JPMorgan Chase & Co. cut their price objective on shares of Boeing from $195.00 to $190.00 and set an “overweight” rating for the company in a research report on Monday. Morgan Stanley cut their price objective on shares of Boeing from $195.00 to $170.00 and set an “equal weight” rating for the company in a research report on Thursday, October 24th. TD Cowen cut their price target on shares of Boeing from $200.00 to $190.00 and set a “buy” rating for the company in a report on Monday, October 14th. Finally, Robert W. Baird cut their price target on shares of Boeing from $240.00 to $200.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Boeing presently has an average rating of “Hold” and a consensus price target of $190.11.

Boeing Trading Up 2.3 %

The company has a market capitalization of $96.37 billion, a price-to-earnings ratio of -12.19 and a beta of 1.57. The company’s 50 day simple moving average is $151.44 and its 200-day simple moving average is $167.67.

Boeing (NYSE:BA) last released its quarterly 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 business had revenue of $17.84 billion for the quarter, compared to the consensus estimate of $17.81 billion. During the same quarter in the prior year, the company earned ($3.26) earnings per share. Boeing’s revenue was down 1.5% compared to the same quarter last year. Sell-side analysts anticipate that The Boeing Company will post -16.19 EPS for the current year.

Institutional Investors Weigh In On Boeing

Several hedge funds have recently modified their holdings of the stock. Madison Park Capital Advisors LLC boosted its position in shares of Boeing by 4.9% in the second quarter. Madison Park Capital Advisors LLC now owns 1,204 shares of the aircraft producer’s stock worth $219,000 after acquiring an additional 56 shares during the last quarter. Wealth Alliance Advisory Group LLC raised its holdings in Boeing by 1.6% in the second quarter. Wealth Alliance Advisory Group LLC now owns 3,798 shares of the aircraft producer’s stock valued at $691,000 after buying an additional 60 shares during the period. IMS Capital Management raised its holdings in Boeing by 0.4% in the second quarter. IMS Capital Management now owns 16,032 shares of the aircraft producer’s stock valued at $2,759,000 after buying an additional 62 shares during the period. ADE LLC raised its holdings in Boeing by 4.4% in the second quarter. ADE LLC now owns 1,539 shares of the aircraft producer’s stock valued at $280,000 after buying an additional 65 shares during the period. Finally, Peoples Financial Services CORP. raised its holdings in Boeing by 0.8% in the third quarter. Peoples Financial Services CORP. now owns 8,893 shares of the aircraft producer’s stock valued at $1,352,000 after buying an additional 67 shares during the period. 64.82% of the stock is owned by institutional investors and hedge funds.

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.