Boeing (NYSE:BA) Stock Price Down 1.5% – Here’s Why

The Boeing Company (NYSE:BA) shares fell 1.5% on Wednesday . The stock traded as low as $141.75 and last traded at $142.96. 5,019,965 shares traded hands during trading, a decline of 45% from the average session volume of 9,058,251 shares. The stock had previously closed at $145.17.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on BA. 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 report on Thursday, October 24th. Stifel Nicolaus increased their price objective on shares of Boeing from $230.00 to $235.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Citigroup reduced their price target on shares of Boeing from $224.00 to $209.00 and set a “buy” rating on the stock in a report on Tuesday, October 15th. UBS Group decreased their price objective on Boeing from $215.00 to $195.00 and set a “buy” rating on the stock in a research note on Thursday, October 24th. Finally, The Goldman Sachs Group lowered their target price on shares of Boeing from $232.00 to $202.00 and set a “buy” rating for the company in a research note on Tuesday, September 24th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Boeing currently has an average rating of “Hold” and a consensus price target of $190.37.

Boeing Stock Performance

The firm has a market capitalization of $85.39 billion, a price-to-earnings ratio of -10.71 and a beta of 1.57. The company’s fifty day moving average price is $154.03 and its 200 day moving average price is $169.89.

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

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Van ECK Associates Corp boosted its position in shares of Boeing by 122.0% in the 3rd quarter. Van ECK Associates Corp now owns 2,277,548 shares of the aircraft producer’s stock valued at $357,712,000 after purchasing an additional 1,251,456 shares during the period. International Assets Investment Management LLC lifted its stake in Boeing by 289.8% during the third quarter. International Assets Investment Management LLC now owns 1,682,970 shares of the aircraft producer’s stock valued at $2,558,790,000 after buying an additional 1,251,165 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Boeing by 2.5% in 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 period. Wulff Hansen & CO. boosted its holdings in shares of Boeing by 15,039.0% in the second quarter. Wulff Hansen & CO. now owns 967,383 shares of the aircraft producer’s stock worth $176,073,000 after buying an additional 960,993 shares during the period. Finally, Jennison Associates LLC increased its position in shares of Boeing by 9.9% in the third quarter. Jennison Associates LLC now owns 6,700,706 shares of the aircraft producer’s stock worth $1,018,775,000 after acquiring an additional 602,143 shares in the last quarter. 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.