Boeing (NYSE:BA) Stock Price Down 0.4% – Here’s What Happened

Shares of The Boeing Company (NYSE:BA) traded down 0.4% during mid-day trading on Thursday . The stock traded as low as $157.32 and last traded at $157.72. 1,446,797 shares changed hands during mid-day trading, a decline of 84% from the average session volume of 9,133,071 shares. The stock had previously closed at $158.28.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. DZ Bank lowered Boeing from a “buy” rating to a “hold” rating and set a $152.00 target price for the company. in a report on Tuesday, October 15th. TD Cowen reduced their target price on Boeing from $200.00 to $190.00 and set a “buy” rating for the company in a report on Monday, October 14th. Susquehanna reduced their target price on Boeing from $210.00 to $200.00 and set a “positive” rating for the company in a report on Thursday, October 24th. Sanford C. Bernstein lowered Boeing from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $195.00 to $169.00 in a report on Wednesday, October 30th. Finally, Benchmark reissued a “buy” rating and set a $250.00 price objective on shares of Boeing in a report on Thursday, October 24th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Boeing has an average rating of “Hold” and a consensus price target of $190.11.

Boeing Price Performance

The stock has a 50-day moving average of $151.63 and a 200-day moving average of $166.82.

Boeing (NYSE:BA) last released its quarterly earnings results on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share 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 analyst estimates of $17.81 billion. During the same quarter last year, the firm earned ($3.26) EPS. The firm’s quarterly revenue was down 1.5% on a year-over-year basis. As a group, analysts expect that The Boeing Company will post -16.18 EPS for the current fiscal year.

Institutional Trading of Boeing

Several large investors have recently bought and sold shares of BA. RPg Family Wealth Advisory LLC bought a new stake in Boeing during the 3rd quarter valued at approximately $28,000. Cedar Wealth Management LLC bought a new stake in Boeing during the 3rd quarter valued at approximately $30,000. Kiely Wealth Advisory Group Inc. bought a new stake in Boeing during the 2nd quarter valued at approximately $33,000. Hobbs Group Advisors LLC bought a new stake in Boeing during the 2nd quarter valued at approximately $34,000. Finally, Harel Insurance Investments & Financial Services Ltd. lifted its holdings in shares of Boeing by 351.1% during the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 212 shares of the aircraft producer’s stock valued at $39,000 after purchasing an additional 165 shares during 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.