Boeing (NYSE:BA) Stock Price Up 0% – Here’s Why

The Boeing Company (NYSE:BAGet Free Report)’s stock price rose 0% during trading on Wednesday . The company traded as high as $169.99 and last traded at $167.09. Approximately 1,973,935 shares traded hands during trading, a decline of 74% from the average daily volume of 7,728,913 shares. The stock had previously closed at $167.02.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on BA. Morgan Stanley decreased their price objective on Boeing from $195.00 to $170.00 and set an “equal weight” rating on the stock in a report on Thursday, October 24th. Deutsche Bank Aktiengesellschaft increased their target price on Boeing from $184.00 to $215.00 and gave the stock a “buy” rating in a research report on Thursday, January 2nd. Citigroup cut their target price on Boeing from $224.00 to $209.00 and set a “buy” rating on the stock in a research report on Tuesday, October 15th. JPMorgan Chase & Co. cut their target price on Boeing from $195.00 to $190.00 and set an “overweight” rating on the stock in a research report on Monday, November 25th. Finally, Sanford C. Bernstein lowered Boeing from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $195.00 to $169.00 in a research report on Wednesday, October 30th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $192.21.

Check Out Our Latest Stock Analysis on Boeing

Boeing Stock Up 0.2 %

The firm has a market capitalization of $103.49 billion, a price-to-earnings ratio of -12.98 and a beta of 1.52. The stock has a 50 day moving average of $162.02 and a 200 day moving average of $164.97.

Boeing (NYSE:BAGet Free Report) last issued its earnings results on Wednesday, October 23rd. The aircraft producer reported ($10.44) EPS for the quarter, missing analysts’ consensus estimates of ($10.34) by ($0.10). The business had revenue of $17.84 billion during the quarter, compared to the consensus estimate of $17.81 billion. During the same period in the prior year, the firm posted ($3.26) EPS. The firm’s revenue for the quarter was down 1.5% compared to the same quarter last year. Analysts predict that The Boeing Company will post -16.18 earnings per share for the current year.

Hedge Funds Weigh In On Boeing

A number of hedge funds and other institutional investors have recently bought and sold shares of BA. Van ECK Associates Corp raised its holdings in shares of Boeing by 122.0% during the third quarter. Van ECK Associates Corp now owns 2,277,548 shares of the aircraft producer’s stock valued at $357,712,000 after buying an additional 1,251,456 shares during the last quarter. International Assets Investment Management LLC raised its holdings in shares of Boeing by 289.8% during the third quarter. International Assets Investment Management LLC now owns 1,682,970 shares of the aircraft producer’s stock valued at $2,558,790,000 after buying an additional 1,251,165 shares during the last quarter. Franklin Resources Inc. raised its holdings in shares of Boeing by 1,296.3% during the third quarter. Franklin Resources Inc. now owns 1,136,895 shares of the aircraft producer’s stock valued at $169,386,000 after buying an additional 1,055,472 shares during the last quarter. Wulff Hansen & CO. raised its holdings in shares of Boeing by 15,039.0% during the second 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 last quarter. Finally, State Street Corp raised its holdings in shares of Boeing by 2.3% during the third quarter. State Street Corp now owns 27,778,195 shares of the aircraft producer’s stock valued at $4,223,397,000 after buying an additional 636,594 shares during the last quarter. 64.82% of the stock is currently owned by institutional investors and hedge funds.

About Boeing

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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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