Boeing (NYSE:BA) Stock Price Up 0.5% – What’s Next?

The Boeing Company (NYSE:BA)’s stock price shot up 0.5% during mid-day trading on Monday . The company traded as high as $155.70 and last traded at $155.44. 2,980,218 shares changed hands during trading, a decline of 66% from the average session volume of 8,788,910 shares. The stock had previously closed at $154.59.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Stifel Nicolaus upped their price target on Boeing from $230.00 to $235.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Royal Bank of Canada reaffirmed an “outperform” rating and set a $200.00 price target on shares of Boeing in a report on Wednesday, October 30th. TD Cowen reduced their target price on Boeing from $200.00 to $190.00 and set a “buy” rating on the stock in a report on Monday, October 14th. Sanford C. Bernstein lowered Boeing from an “outperform” rating to a “market perform” rating and cut their price target for the company from $195.00 to $169.00 in a report on Wednesday, October 30th. Finally, Jefferies Financial Group lowered 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. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Boeing currently has an average rating of “Hold” and a consensus target price of $190.37.

Boeing Price Performance

The company has a market capitalization of $96.28 billion, a price-to-earnings ratio of -12.05 and a beta of 1.57. The business has a fifty day moving average price of $157.46 and a 200 day moving average price of $171.01.

Boeing (NYSE:BA) last posted its quarterly earnings data on Wednesday, October 23rd. The aircraft producer reported ($10.44) 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. The business’s quarterly revenue was down 1.5% on a year-over-year basis. During the same quarter in the prior year, the company posted ($3.26) earnings per share. As a group, sell-side analysts predict that The Boeing Company will post -16.15 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Boeing

Hedge funds have recently added to or reduced their stakes in the stock. Kiely Wealth Advisory Group Inc. bought a new position in Boeing in the second quarter valued at approximately $33,000. Hobbs Group Advisors LLC acquired a new position in Boeing during the 2nd quarter worth about $34,000. McClarren Financial Advisors Inc. lifted its holdings in Boeing by 451.4% during the 1st quarter. McClarren Financial Advisors Inc. now owns 193 shares of the aircraft producer’s stock worth $37,000 after buying an additional 158 shares during the period. Harel Insurance Investments & Financial Services Ltd. lifted its stake in shares of Boeing by 351.1% in the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 212 shares of the aircraft producer’s stock valued at $39,000 after purchasing an additional 165 shares during the period. Finally, 1620 Investment Advisors Inc. bought a new stake in Boeing during the 2nd quarter worth approximately $39,000. Institutional investors and hedge funds own 64.82% of the company’s stock.

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.