Boeing (NYSE:BA) Shares Down 1.5% – Here’s What Happened

by · The Markets Daily

The Boeing Company (NYSE:BA – Get Free Report)’s share price was down 1.5% during mid-day trading on Tuesday . The stock traded as low as $167.79 and last traded at $168.07. Approximately 1,654,736 shares traded hands during trading, a decline of 78% from the average daily volume of 7,644,253 shares. The stock had previously closed at $170.57.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on BA shares. TD Cowen reduced their target price on shares of Boeing from $200.00 to $190.00 and set a “buy” rating for the company in a report on Monday, October 14th. Barclays raised Boeing from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $190.00 to $210.00 in a research note on Monday, January 6th. Citigroup dropped their target price on Boeing from $224.00 to $209.00 and set a “buy” rating on the stock in a report on Tuesday, October 15th. UBS Group decreased their price target on Boeing from $215.00 to $195.00 and set a “buy” rating for the company in a report on Thursday, October 24th. Finally, DZ Bank cut shares of Boeing from a “buy” rating to a “hold” rating and set a $152.00 price objective on the stock. in a research note on Tuesday, October 15th. Two investment analysts have rated the stock with a sell rating, eight have issued 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 presently has a consensus rating of “Moderate Buy” and an average price target of $192.21.

Get Our Latest Stock Analysis on BA

Boeing Price Performance

The firm has a market cap of $103.09 billion, a PE ratio of -12.93 and a beta of 1.52. The business has a 50-day moving average price of $161.70 and a two-hundred day moving average price of $165.07.

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

Institutional Investors Weigh In On Boeing

Large investors have recently bought and sold shares of the stock. RPg Family Wealth Advisory LLC purchased a new stake in shares of Boeing in the third quarter valued at $28,000. Cedar Wealth Management LLC purchased a new position in Boeing in the 3rd quarter valued at about $30,000. Kiely Wealth Advisory Group Inc. acquired a new stake in shares of Boeing during the 2nd quarter worth about $33,000. Planning Capital Management Corp grew its holdings in shares of Boeing by 741.0% during the third quarter. Planning Capital Management Corp now owns 328 shares of the aircraft producer’s stock worth $50,000 after buying an additional 289 shares in the last quarter. Finally, Truvestments Capital LLC acquired a new position in shares of Boeing in the third quarter valued at approximately $58,000. Institutional investors and hedge funds own 64.82% of the company’s stock.

About Boeing

(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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