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

by · The Cerbat Gem

The Boeing Company (NYSE:BA – Get Free Report)’s stock price traded up 1.3% during mid-day trading on Tuesday . The stock traded as high as $151.75 and last traded at $150.97. 4,003,039 shares traded hands during trading, a decline of 50% from the average session volume of 8,036,872 shares. The stock had previously closed at $148.99.

Wall Street Analysts Forecast Growth

BA has been the subject of a number of recent research reports. Susquehanna cut their price objective on Boeing from $230.00 to $210.00 and set a “positive” rating for the company in a research note on Thursday. TD Cowen reduced their price objective on shares of Boeing from $200.00 to $190.00 and set a “buy” rating for the company in a research note on Monday. JPMorgan Chase & Co. lowered their target price on shares of Boeing from $235.00 to $195.00 and set an “overweight” rating on the stock in a research note on Monday. The Goldman Sachs Group decreased their price target on Boeing from $232.00 to $202.00 and set a “buy” rating on the stock in a report on Tuesday, September 24th. Finally, Stifel Nicolaus upped their price objective on Boeing from $230.00 to $235.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $199.32.

Read Our Latest Research Report on Boeing

Boeing Stock Performance

The company has a market cap of $95.34 billion, a PE ratio of -43.75 and a beta of 1.57. The company has a fifty day moving average of $161.63 and a two-hundred day moving average of $173.00.

Boeing (NYSE:BA – Get Free Report) last released its earnings results on Wednesday, July 31st. The aircraft producer reported ($2.90) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.00) by ($1.90). The firm had revenue of $16.87 billion for the quarter, compared to analysts’ expectations of $17.35 billion. The company’s revenue was down 14.6% on a year-over-year basis. During the same period in the previous year, the business earned ($0.82) EPS. On average, equities analysts forecast that The Boeing Company will post -5.35 EPS for the current year.

Hedge Funds Weigh In On Boeing

Several hedge funds have recently bought and sold shares of the business. Madison Park Capital Advisors LLC grew its holdings in shares of Boeing by 4.9% in the second quarter. Madison Park Capital Advisors LLC now owns 1,204 shares of the aircraft producer’s stock worth $219,000 after purchasing an additional 56 shares during the last quarter. Bridge Creek Capital Management LLC increased its position in shares of Boeing by 3.1% during the first quarter. Bridge Creek Capital Management LLC now owns 1,983 shares of the aircraft producer’s stock worth $383,000 after acquiring an additional 60 shares during the period. Wealth Alliance Advisory Group LLC raised its stake in shares of Boeing by 1.6% during the second quarter. Wealth Alliance Advisory Group LLC now owns 3,798 shares of the aircraft producer’s stock valued at $691,000 after acquiring an additional 60 shares in the last quarter. Angeles Wealth Management LLC boosted its holdings in shares of Boeing by 4.2% in the first quarter. Angeles Wealth Management LLC now owns 1,524 shares of the aircraft producer’s stock valued at $294,000 after purchasing an additional 61 shares during the period. Finally, IMS Capital Management grew its stake in Boeing by 0.4% in the second quarter. IMS Capital Management now owns 16,032 shares of the aircraft producer’s stock worth $2,759,000 after purchasing an additional 62 shares in the last quarter. Institutional investors own 64.82% of the company’s stock.

Boeing Company Profile

(Get Free Report)

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.

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