Boeing (NYSE:BA) Stock Price Up 2.1% - Here's Why

The Boeing Company (NYSE:BA - Get Free Report) shares rose 2.1% on Thursday . The stock traded as high as $170.63 and last traded at $169.75. Approximately 2,023,006 shares changed hands during trading, a decline of 73% from the average daily volume of 7,608,851 shares. The stock had previously closed at $166.20.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on BA. UBS Group reduced their price objective on shares of Boeing from $215.00 to $195.00 and set a "buy" rating for the company in a report on Thursday, October 24th. The Goldman Sachs Group decreased their price objective on Boeing from $232.00 to $202.00 and set a "buy" rating for the company in a report on Tuesday, September 24th. DZ Bank cut Boeing from a "buy" rating to a "hold" rating and set a $152.00 target price on the stock. in a research report on Tuesday, October 15th. Northcoast Research raised Boeing from a "sell" rating to a "neutral" rating in a research report on Thursday, December 12th. Finally, Benchmark reaffirmed a "buy" rating and set a $250.00 price objective on shares of Boeing in a report on Thursday, October 24th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $192.21.

Boeing Trading Up 1.9 %

The company has a market capitalization of $104.70 billion, a PE ratio of -13.11 and a beta of 1.52. The stock has a fifty day moving average of $162.02 and a two-hundred day moving average of $164.97.

Boeing (NYSE:BA - Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $17.84 billion for the quarter, compared to the consensus estimate of $17.81 billion. The business's quarterly revenue was down 1.5% compared to the same quarter last year. During the same period last year, the business earned ($3.26) earnings per share. Equities analysts forecast that The Boeing Company will post -16.43 EPS for the current year.

Institutional Investors Weigh In On Boeing

A number of hedge funds and other institutional investors have recently modified their holdings of BA. RPg Family Wealth Advisory LLC bought a new stake in shares of Boeing in the third quarter worth about $28,000. Cedar Wealth Management LLC purchased a new position in shares of Boeing during the third quarter valued at approximately $30,000. Kiely Wealth Advisory Group Inc. bought a new position in shares of Boeing during the second quarter valued at approximately $33,000. Planning Capital Management Corp lifted its stake in Boeing by 741.0% in the third quarter. Planning Capital Management Corp now owns 328 shares of the aircraft producer's stock worth $50,000 after acquiring an additional 289 shares during the period. Finally, Truvestments Capital LLC purchased a new position in Boeing during the 3rd quarter valued at $58,000. Institutional investors own 64.82% of the company's stock.

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.

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