Boeing (NYSE:BA) Stock Price Up 1.9% on Analyst Upgrade

The Boeing Company (NYSE:BA)’s share price shot up 1.9% during trading on Thursday after JPMorgan Chase & Co. raised their price target on the stock from $190.00 to $200.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Boeing traded as high as $177.76 and last traded at $177.01. 1,948,299 shares were traded during mid-day trading, a decline of 77% from the average session volume of 8,617,185 shares. The stock had previously closed at $173.66.

Other analysts also recently issued reports about the stock. Barclays raised shares of Boeing from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $190.00 to $210.00 in a research report on Monday, January 6th. Benchmark reiterated a “buy” rating and issued a $250.00 price target on shares of Boeing in a research report on Thursday, October 24th. TD Cowen decreased their target price on Boeing from $200.00 to $190.00 and set a “buy” rating on the stock in a research note on Monday, October 14th. Sanford C. Bernstein cut shares of Boeing from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $195.00 to $169.00 in a research note on Wednesday, October 30th. Finally, Citigroup lowered their target price on shares of Boeing from $209.00 to $207.00 and set a “buy” rating for the company in a research note on Friday, January 24th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $195.00.

Institutional Trading of Boeing

Several institutional investors have recently made changes to their positions in BA. Sugar Maple Asset Management LLC acquired a new position in Boeing during the 4th quarter worth $27,000. RPg Family Wealth Advisory LLC acquired a new stake in shares of Boeing during the third quarter worth $28,000. Fiduciary Advisors Inc. acquired a new stake in shares of Boeing in the fourth quarter valued at approximately $28,000. Cedar Wealth Management LLC acquired a new stake in Boeing in the 3rd quarter valued at $30,000. Finally, Heck Capital Advisors LLC bought a new position in shares of Boeing in the 4th quarter valued at about $33,000. 64.82% of the stock is currently owned by institutional investors and hedge funds.

Boeing Stock Up 2.1 %

The company has a market cap of $109.58 billion, a P/E ratio of -13.74 and a beta of 1.52. The stock has a 50 day moving average price of $168.24 and a two-hundred day moving average price of $164.26.

Boeing (NYSE:BA) last posted its quarterly earnings data on Tuesday, January 28th. The aircraft producer reported ($5.90) earnings per share for the quarter, missing the consensus estimate of ($1.60) by ($4.30). During the same period in the prior year, the business posted ($0.47) EPS. Equities analysts anticipate that The Boeing Company will post -16.39 EPS for the current year.

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.