Boeing (NYSE:BA) Stock Price Down 2.7% – Here’s Why

by · The Markets Daily

Shares of The Boeing Company (NYSE:BA – Get Free Report) fell 2.7% during trading on Wednesday . The company traded as low as $153.53 and last traded at $155.56. 6,174,160 shares traded hands during mid-day trading, a decline of 23% from the average session volume of 8,066,009 shares. The stock had previously closed at $159.88.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on BA shares. Morgan Stanley cut their price target on shares of Boeing from $195.00 to $170.00 and set an “equal weight” rating on the stock in a research note on Friday, October 18th. TD Cowen reduced their target price on Boeing from $200.00 to $190.00 and set a “buy” rating for the company in a research note on Monday, October 14th. Deutsche Bank Aktiengesellschaft dropped their price target on Boeing from $225.00 to $195.00 and set a “buy” rating on the stock in a research note on Thursday, October 3rd. Jefferies Financial Group reduced their price objective on Boeing from $270.00 to $240.00 and set a “buy” rating for the company in a research note on Monday, September 23rd. Finally, Stifel Nicolaus upped their target price on Boeing from $230.00 to $235.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $198.79.

Get Our Latest Analysis on BA

Boeing Stock Performance

The firm has a market capitalization of $97.10 billion, a price-to-earnings ratio of -43.82 and a beta of 1.57. The company has a 50 day moving average price of $160.84 and a two-hundred day moving average price of $172.11.

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

Institutional Investors Weigh In On Boeing

Large investors have recently modified their holdings of the business. Kiely Wealth Advisory Group Inc. acquired a new position in Boeing during the second quarter worth about $33,000. Hobbs Group Advisors LLC purchased a new stake in shares of Boeing in the 2nd quarter valued at approximately $34,000. McClarren Financial Advisors Inc. increased its holdings in shares of Boeing by 451.4% during the 1st quarter. McClarren Financial Advisors Inc. now owns 193 shares of the aircraft producer’s stock worth $37,000 after buying an additional 158 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. raised its position in shares of Boeing by 351.1% during the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 212 shares of the aircraft producer’s stock valued at $39,000 after buying an additional 165 shares during the period. Finally, 1620 Investment Advisors Inc. acquired a new position in Boeing in the second quarter valued at approximately $39,000. Hedge funds and other 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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