Boeing (NYSE:BA) Shares Up 1.6%

The Boeing Company (NYSE:BA)’s share price shot up 1.6% during mid-day trading on Wednesday . The company traded as high as $170.64 and last traded at $170.55. 7,986,725 shares were traded during mid-day trading, an increase of 10% from the average session volume of 7,265,883 shares. The stock had previously closed at $167.82.

Analyst Ratings Changes

A number of brokerages recently issued reports on BA. Susquehanna decreased their price target on shares of Boeing from $265.00 to $230.00 and set a “positive” rating for the company in a research note on Thursday, March 21st. Morgan Stanley reduced their price objective on shares of Boeing from $235.00 to $180.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 10th. Northcoast Research downgraded shares of Boeing from a “neutral” rating to a “sell” rating and set a $140.00 price objective for the company. in a research report on Wednesday. Royal Bank of Canada reduced their price objective on shares of Boeing from $225.00 to $215.00 and set an “outperform” rating for the company in a research report on Tuesday. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Boeing from $230.00 to $210.00 and set an “overweight” rating for the company in a research report on Friday, April 12th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, Boeing presently has an average rating of “Moderate Buy” and a consensus target price of $229.35.

Boeing Trading Down 0.0 %

The company has a fifty day moving average price of $191.08 and a 200-day moving average price of $207.28. The firm has a market capitalization of $103.85 billion, a price-to-earnings ratio of -46.26, a price-to-earnings-growth ratio of 116.16 and a beta of 1.52.

Boeing (NYSE:BA) last issued its quarterly earnings results on Wednesday, January 31st. The aircraft producer reported ($0.47) EPS for the quarter, topping the consensus estimate of ($0.72) by $0.25. The business had revenue of $22.02 billion during the quarter, compared to the consensus estimate of $21.14 billion. The business’s quarterly revenue was up 10.2% on a year-over-year basis. During the same period in the prior year, the firm earned ($1.75) earnings per share. As a group, sell-side analysts predict that The Boeing Company will post 0.37 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in BA. CNB Bank increased its position in shares of Boeing by 106.5% during the third quarter. CNB Bank now owns 128 shares of the aircraft producer’s stock valued at $25,000 after purchasing an additional 66 shares during the period. Vermillion & White Wealth Management Group LLC bought a new stake in shares of Boeing during the fourth quarter valued at approximately $26,000. Evolution Advisers Inc. bought a new stake in shares of Boeing during the fourth quarter valued at approximately $28,000. DiNuzzo Private Wealth Inc. bought a new stake in shares of Boeing during the fourth quarter valued at approximately $28,000. Finally, True Wealth Design LLC bought a new stake in shares of Boeing during the fourth quarter valued at approximately $33,000. 64.82% of the stock is owned by institutional investors.

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.