Boeing (NYSE:BA) Trading 0.9% Higher - Here's Why

The Boeing Company (NYSE:BA - Get Free Report) was up 0.9% during trading on Wednesday . The stock traded as high as $147.30 and last traded at $146.84. Approximately 2,263,878 shares traded hands during trading, a decline of 75% from the average daily volume of 9,153,700 shares. The stock had previously closed at $145.60.

Analyst Upgrades and Downgrades

BA has been the topic of a number of research analyst reports. Wells Fargo & Company reduced their price target on shares of Boeing from $86.00 to $85.00 and set an "underweight" rating on the stock in a research note on Monday, November 4th. Robert W. Baird reduced their price objective on shares of Boeing from $240.00 to $200.00 and set an "outperform" rating on the stock in a research note on Thursday, October 24th. Citigroup cut their target price on Boeing from $224.00 to $209.00 and set a "buy" rating on the stock in a report on Tuesday, October 15th. Susquehanna cut their price objective on Boeing from $210.00 to $200.00 and set a "positive" rating on the stock in a research note on Thursday, October 24th. Finally, Jefferies Financial Group decreased their target price on shares of Boeing from $270.00 to $240.00 and set a "buy" rating for the company in a research report on Monday, September 23rd. Three analysts have rated the stock with a sell rating, nine have given a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Boeing currently has an average rating of "Hold" and an average target price of $190.37.

Boeing Stock Up 0.5 %

The firm's 50-day moving average price is $152.53 and its 200 day moving average price is $168.95. The company has a market capitalization of $90.48 billion, a P/E ratio of -11.38 and a beta of 1.57.

Boeing (NYSE:BA - Get Free Report) last issued its quarterly earnings data on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share for the quarter, missing the consensus estimate of ($10.34) by ($0.10). The business had revenue of $17.84 billion during the quarter, compared to analyst estimates of $17.81 billion. The company's quarterly revenue was down 1.5% on a year-over-year basis. During the same quarter in the previous year, the business posted ($3.26) EPS. As a group, equities research analysts expect that The Boeing Company will post -16.2 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. RPg Family Wealth Advisory LLC purchased a new position in Boeing in the third quarter valued at approximately $28,000. Cedar Wealth Management LLC purchased a new stake in shares of Boeing during the 3rd quarter valued at approximately $30,000. Kiely Wealth Advisory Group Inc. bought a new position in shares of Boeing in the second quarter worth $33,000. Hobbs Group Advisors LLC purchased a new position in shares of Boeing in the second quarter valued at $34,000. Finally, Harel Insurance Investments & Financial Services Ltd. raised its stake in shares of Boeing by 351.1% during 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. Hedge funds and other 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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