Boeing (NYSE:BA) Trading Up 0.9% – What’s Next?

The Boeing Company (NYSE:BA) shares were up 0.9% during trading on Monday . The company traded as high as $173.94 and last traded at $171.36. Approximately 3,572,935 shares traded hands during trading, a decline of 59% from the average daily volume of 8,664,484 shares. The stock had previously closed at $169.90.

Wall Street Analyst Weigh In

A number of research analysts have commented on BA shares. TD Cowen reduced their price objective on Boeing from $200.00 to $190.00 and set a “buy” rating on the stock in a research note on Monday, October 14th. Northcoast Research upgraded Boeing from a “sell” rating to a “neutral” rating in a research note on Thursday, December 12th. Jefferies Financial Group cut their price target on Boeing from $270.00 to $240.00 and set a “buy” rating on the stock in a research note on Monday, September 23rd. Robert W. Baird cut their price target on Boeing from $240.00 to $200.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. Finally, JPMorgan Chase & Co. cut their price target on Boeing from $195.00 to $190.00 and set an “overweight” rating on the stock in a research note on Monday, November 25th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $192.21.

Boeing Price Performance

The company has a market capitalization of $105.68 billion, a P/E ratio of -13.25 and a beta of 1.52. The company has a fifty day moving average price of $159.43 and a 200 day moving average price of $165.34.

Boeing (NYSE:BA) last posted its earnings results on Wednesday, October 23rd. The aircraft producer reported ($10.44) EPS for the quarter, missing the consensus estimate of ($10.34) by ($0.10). The firm had revenue of $17.84 billion during the quarter, compared to the consensus estimate of $17.81 billion. The company’s revenue was down 1.5% on a year-over-year basis. During the same period in the previous year, the business earned ($3.26) earnings per share. On average, equities research analysts predict that The Boeing Company will post -16.18 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Boeing

Several institutional investors have recently made changes to their positions in the stock. Doliver Advisors LP grew its holdings in Boeing by 62.9% in the 4th quarter. Doliver Advisors LP now owns 5,397 shares of the aircraft producer’s stock worth $955,000 after buying an additional 2,083 shares in the last quarter. CWA Asset Management Group LLC grew its holdings in Boeing by 37.1% in the 4th quarter. CWA Asset Management Group LLC now owns 3,009 shares of the aircraft producer’s stock worth $533,000 after buying an additional 815 shares in the last quarter. GAMMA Investing LLC grew its holdings in Boeing by 26.2% in the 4th quarter. GAMMA Investing LLC now owns 5,135 shares of the aircraft producer’s stock worth $909,000 after buying an additional 1,066 shares in the last quarter. Versant Capital Management Inc grew its holdings in Boeing by 51.0% in the 4th quarter. Versant Capital Management Inc now owns 811 shares of the aircraft producer’s stock worth $143,000 after buying an additional 274 shares in the last quarter. Finally, Principal Financial Group Inc. grew its holdings in Boeing by 6.1% in the 3rd quarter. Principal Financial Group Inc. now owns 666,244 shares of the aircraft producer’s stock worth $101,296,000 after buying an additional 38,332 shares in the last quarter. 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.