Boeing (NYSE:BA) Stock Price Up 1.3% – Here’s What Happened

Shares of The Boeing Company (NYSE:BA) were up 1.3% during mid-day trading on Tuesday . The company traded as high as $151.75 and last traded at $150.97. Approximately 4,003,039 shares changed hands during trading, a decline of 50% from the average daily volume of 8,036,872 shares. The stock had previously closed at $148.99.

Wall Street Analysts Forecast Growth

BA has been the topic of a number of research reports. Wells Fargo & Company lowered their price target on shares of Boeing from $110.00 to $109.00 and set an “underweight” rating for the company in a report on Monday. Jefferies Financial Group reduced their price objective on Boeing from $270.00 to $240.00 and set a “buy” rating on the stock in a research report on Monday, September 23rd. JPMorgan Chase & Co. dropped their target price on Boeing from $235.00 to $195.00 and set an “overweight” rating for the company in a research report on Monday. Stifel Nicolaus boosted their price target on Boeing from $230.00 to $235.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Finally, Susquehanna reiterated a “positive” rating and issued a $230.00 price objective on shares of Boeing in a report on Wednesday, August 14th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Boeing has an average rating of “Moderate Buy” and a consensus price target of $201.00.

Boeing Trading Up 2.0 %

The company has a market capitalization of $93.30 billion, a PE ratio of -42.85 and a beta of 1.57. The stock’s fifty day moving average is $162.05 and its two-hundred day moving average is $173.41.

Boeing (NYSE:BA) last released its earnings results on Wednesday, July 31st. The aircraft producer reported ($2.90) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.00) by ($1.90). The business had revenue of $16.87 billion for the quarter, compared to analysts’ expectations of $17.35 billion. During the same quarter last year, the firm posted ($0.82) EPS. The firm’s revenue was down 14.6% on a year-over-year basis. As a group, analysts anticipate that The Boeing Company will post -5.35 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in BA. Lazari Capital Management Inc. boosted its holdings in Boeing by 55.7% in the 2nd quarter. Lazari Capital Management Inc. now owns 23,216 shares of the aircraft producer’s stock worth $4,226,000 after buying an additional 8,309 shares during the period. Sanders Morris Harris LLC boosted its holdings in shares of Boeing by 869.1% in the first quarter. Sanders Morris Harris LLC now owns 22,775 shares of the aircraft producer’s stock worth $4,395,000 after acquiring an additional 20,425 shares during the period. Czech National Bank grew its position in shares of Boeing by 8.4% in the third quarter. Czech National Bank now owns 119,243 shares of the aircraft producer’s stock valued at $18,130,000 after purchasing an additional 9,281 shares in the last quarter. Park Avenue Securities LLC raised its stake in shares of Boeing by 20.7% during the 1st quarter. Park Avenue Securities LLC now owns 10,543 shares of the aircraft producer’s stock valued at $2,035,000 after purchasing an additional 1,805 shares during the period. Finally, BSN CAPITAL PARTNERS Ltd purchased a new stake in Boeing during the 3rd quarter worth about $11,237,000. Hedge funds and other institutional investors own 64.82% of the company’s stock.

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.