Boeing (NYSE:BA) Trading 0.9% Higher – What’s Next?

Shares of The Boeing Company (NYSE:BA) rose 0.9% on Thursday . The company traded as high as $176.54 and last traded at $176.39. Approximately 1,418,901 shares changed hands during trading, a decline of 81% from the average daily volume of 7,472,984 shares. The stock had previously closed at $174.80.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on BA shares. Barclays raised Boeing from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $190.00 to $210.00 in a report on Monday, January 6th. Wells Fargo & Company decreased their price objective on shares of Boeing from $86.00 to $85.00 and set an “underweight” rating on the stock in a report on Monday, November 4th. Susquehanna lowered their target price on shares of Boeing from $210.00 to $200.00 and set a “positive” rating on the stock in a research report on Thursday, October 24th. TD Cowen reduced their price target on shares of Boeing from $200.00 to $190.00 and set a “buy” rating for the company in a research report on Monday, October 14th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $200.00 price target on shares of Boeing in a report on Wednesday, October 30th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Boeing has a consensus rating of “Moderate Buy” and an average price target of $192.11.

Boeing Stock Down 1.4 %

The firm has a market cap of $108.77 billion, a PE ratio of -13.64 and a beta of 1.52. The firm’s 50 day moving average is $166.42 and its 200-day moving average is $164.56.

Boeing (NYSE:BA) last posted its quarterly earnings data on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share (EPS) for the quarter, missing the consensus estimate of ($10.34) by ($0.10). The firm had revenue of $17.84 billion during the quarter, compared to analyst estimates of $17.81 billion. The firm’s revenue was down 1.5% on a year-over-year basis. During the same quarter last year, the business earned ($3.26) EPS. On average, analysts forecast that The Boeing Company will post -16.39 earnings per share for the current year.

Institutional Trading of Boeing

A number of hedge funds have recently added to or reduced their stakes in the business. Sugar Maple Asset Management LLC purchased a new position in shares of Boeing in the 4th quarter worth $27,000. RPg Family Wealth Advisory LLC acquired a new stake in Boeing during the third quarter worth about $28,000. Fiduciary Advisors Inc. acquired a new position in shares of Boeing in the 4th quarter valued at about $28,000. Cedar Wealth Management LLC purchased a new stake in shares of Boeing during the 3rd quarter worth about $30,000. Finally, Heck Capital Advisors LLC acquired a new stake in Boeing during the 4th quarter worth approximately $33,000. 64.82% of the stock is owned by institutional investors and hedge funds.

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.