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

The Boeing Company (NYSE:BA) shares traded up 0% during mid-day trading on Friday . The company traded as high as $169.71 and last traded at $167.77. 2,688,560 shares were traded during trading, a decline of 71% from the average session volume of 9,199,844 shares. The stock had previously closed at $167.75.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Wells Fargo & Company reduced their price objective on Boeing from $86.00 to $85.00 and set an “underweight” rating for the company in a research report on Monday, November 4th. Royal Bank of Canada reissued an “outperform” rating and set a $200.00 price objective on shares of Boeing in a research report on Wednesday, October 30th. Citigroup reduced their price objective on Boeing from $224.00 to $209.00 and set a “buy” rating for the company in a research report on Tuesday, October 15th. Robert W. Baird reduced their price objective on Boeing from $240.00 to $200.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Finally, UBS Group reduced their price objective on Boeing from $215.00 to $195.00 and set a “buy” rating for the company in a research report on Thursday, October 24th. Two analysts have rated the stock with a sell rating, ten have given a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $190.11.

Boeing Price Performance

The business has a 50 day moving average price of $152.79 and a 200 day moving average price of $166.06. The firm has a market capitalization of $104.88 billion, a P/E ratio of -13.15 and a beta of 1.56.

Boeing (NYSE:BA) last posted its quarterly earnings data 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 firm had revenue of $17.84 billion during the quarter, compared to analyst estimates of $17.81 billion. During the same quarter in the previous year, the firm earned ($3.26) EPS. The business’s revenue for the quarter was down 1.5% compared to the same quarter last year. As a group, equities analysts expect that The Boeing Company will post -16.18 EPS for the current year.

Hedge Funds Weigh In On Boeing

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. RPg Family Wealth Advisory LLC bought a new position in Boeing during the third quarter valued at about $28,000. Cedar Wealth Management LLC bought a new position in Boeing during the third quarter valued at about $30,000. Kiely Wealth Advisory Group Inc. bought a new position in Boeing during the second quarter valued at about $33,000. Hobbs Group Advisors LLC bought a new position in Boeing during the second quarter valued at about $34,000. Finally, Harel Insurance Investments & Financial Services Ltd. increased its stake in 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 acquiring an additional 165 shares during the period. 64.82% of the stock is currently owned by institutional investors.

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.