Boeing (NYSE:BA) Stock Price Down 2.5% After Earnings Miss

The Boeing Company (NYSE:BA) fell 2.5% on Wednesday following a dissappointing earnings announcement. The stock traded as low as $172.86 and last traded at $173.37. 4,215,642 shares were traded during trading, a decline of 51% from the average session volume of 8,531,303 shares. The stock had previously closed at $177.78.

The aircraft producer reported ($5.90) EPS for the quarter, missing analysts’ consensus estimates of ($1.60) by ($4.30). During the same period in the prior year, the firm posted ($0.47) EPS.

Analyst Ratings Changes

Several analysts have recently commented on the company. TD Cowen reduced their price target on Boeing from $200.00 to $190.00 and set a “buy” rating for the company in a report on Monday, October 14th. UBS Group raised their target price on Boeing from $208.00 to $217.00 and gave the company a “buy” rating in a report on Wednesday. Wells Fargo & Company upped their price target on shares of Boeing from $85.00 to $103.00 and gave the stock an “underweight” rating in a research note on Wednesday. Morgan Stanley reduced their price objective on shares of Boeing from $195.00 to $170.00 and set an “equal weight” rating for the company in a research note on Thursday, October 24th. Finally, Benchmark restated a “buy” rating and set a $250.00 target price on shares of Boeing in a research report on Thursday, October 24th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Boeing presently has a consensus rating of “Moderate Buy” and a consensus target price of $194.47.

Institutional Investors Weigh In On Boeing

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Sugar Maple Asset Management LLC purchased a new position in Boeing during the fourth quarter worth approximately $27,000. RPg Family Wealth Advisory LLC purchased a new position in shares of Boeing in the 3rd quarter worth $28,000. Fiduciary Advisors Inc. purchased a new position in shares of Boeing in the 4th quarter worth $28,000. Cedar Wealth Management LLC purchased a new stake in Boeing during the third quarter valued at about $30,000. Finally, Heck Capital Advisors LLC acquired a new stake in Boeing during the fourth quarter worth about $33,000. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Boeing Stock Performance

The company has a market capitalization of $106.71 billion, a PE ratio of -13.44 and a beta of 1.52. The business has a fifty day moving average price of $167.68 and a 200 day moving average price of $164.19.

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.