Boeing (NYSE:BA) Stock Price Up 2.5% – What’s Next?

The Boeing Company (NYSE:BA)’s stock price shot up 2.5% during mid-day trading on Thursday . The company traded as high as $150.99 and last traded at $150.85. 4,506,396 shares changed hands during mid-day trading, a decline of 50% from the average session volume of 8,958,565 shares. The stock had previously closed at $147.16.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. JPMorgan Chase & Co. reduced their price objective on shares of Boeing from $235.00 to $195.00 and set an “overweight” rating on the stock in a research note on Monday, October 14th. Benchmark reissued a “buy” rating and issued a $250.00 price objective on shares of Boeing in a report on Thursday, October 24th. 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. Susquehanna lowered their price target on Boeing from $210.00 to $200.00 and set a “positive” rating for the company in a report on Thursday, October 24th. Finally, The Goldman Sachs Group reduced their price objective on Boeing from $232.00 to $202.00 and set a “buy” rating on the stock in a research note on Tuesday, September 24th. Three research 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. Based on data from MarketBeat, Boeing presently has an average rating of “Hold” and a consensus target price of $190.37.

Boeing Price Performance

The firm has a 50 day moving average of $156.17 and a 200-day moving average of $170.60. The stock has a market capitalization of $93.80 billion, a P/E ratio of -11.69 and a beta of 1.57.

Boeing (NYSE:BA) last issued its earnings results 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 firm had revenue of $17.84 billion for the quarter, compared to analyst estimates of $17.81 billion. The business’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($3.26) EPS. As a group, equities analysts expect that The Boeing Company will post -16.13 earnings per share for the current year.

Hedge Funds Weigh In On Boeing

Institutional investors have recently added to or reduced their stakes in the company. Van ECK Associates Corp raised its stake in shares of Boeing by 122.0% in the third quarter. Van ECK Associates Corp now owns 2,277,548 shares of the aircraft producer’s stock worth $357,712,000 after acquiring an additional 1,251,456 shares during the last quarter. International Assets Investment Management LLC lifted its holdings in Boeing by 289.8% during the 3rd quarter. International Assets Investment Management LLC now owns 1,682,970 shares of the aircraft producer’s stock worth $2,558,790,000 after buying an additional 1,251,165 shares in the last quarter. Vanguard Group Inc. boosted its position in Boeing by 2.5% in the 1st quarter. Vanguard Group Inc. now owns 49,724,770 shares of the aircraft producer’s stock valued at $9,596,383,000 after buying an additional 1,222,816 shares during the last quarter. Wulff Hansen & CO. increased its stake in shares of Boeing by 15,039.0% in the 2nd quarter. Wulff Hansen & CO. now owns 967,383 shares of the aircraft producer’s stock valued at $176,073,000 after buying an additional 960,993 shares during the period. Finally, Newport Trust Company LLC lifted its stake in shares of Boeing by 1.2% during the second quarter. Newport Trust Company LLC now owns 31,640,184 shares of the aircraft producer’s stock valued at $5,758,830,000 after acquiring an additional 388,633 shares during the period. 64.82% of the stock is owned by institutional investors.

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.