Boeing (NYSE:BA) Stock Price Down 1.9% – What’s Next?

The Boeing Company (NYSE:BA) shares were down 1.9% during mid-day trading on Thursday . The stock traded as low as $150.80 and last traded at $151.38. Approximately 4,599,621 shares changed hands during trading, a decline of 47% from the average daily volume of 8,651,064 shares. The stock had previously closed at $154.29.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on BA shares. Deutsche Bank Aktiengesellschaft cut 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. Benchmark reaffirmed a “buy” rating and set a $250.00 price target on shares of Boeing in a research note on Thursday, October 24th. Susquehanna cut their target price on Boeing from $210.00 to $200.00 and set a “positive” rating on the stock in a research note on Thursday, October 24th. JPMorgan Chase & Co. cut their target price on Boeing from $235.00 to $195.00 and set an “overweight” rating on the stock in a research note on Monday, October 14th. Finally, The Goldman Sachs Group cut their target price on Boeing from $232.00 to $202.00 and set a “buy” rating on the stock in a research note on Tuesday, September 24th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Boeing has a consensus rating of “Hold” and a consensus price target of $190.42.

Boeing Stock Up 3.5 %

The firm has a market capitalization of $95.57 billion, a P/E ratio of -11.98 and a beta of 1.57. The stock has a fifty day moving average of $157.46 and a 200-day moving average of $171.00.

Boeing (NYSE:BA) last posted its quarterly earnings data 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 company had revenue of $17.84 billion during the quarter, compared to analyst estimates of $17.81 billion. The business’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same period in the previous year, the firm posted ($3.26) EPS. Sell-side analysts predict that The Boeing Company will post -16.22 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Madison Park Capital Advisors LLC grew its holdings in shares of Boeing by 4.9% in the second quarter. Madison Park Capital Advisors LLC now owns 1,204 shares of the aircraft producer’s stock valued at $219,000 after acquiring an additional 56 shares in the last quarter. Wealth Alliance Advisory Group LLC grew its holdings in Boeing by 1.6% during the second quarter. Wealth Alliance Advisory Group LLC now owns 3,798 shares of the aircraft producer’s stock valued at $691,000 after purchasing an additional 60 shares during the period. Angeles Wealth Management LLC grew its holdings in Boeing by 4.2% during the first quarter. Angeles Wealth Management LLC now owns 1,524 shares of the aircraft producer’s stock valued at $294,000 after purchasing an additional 61 shares during the period. IMS Capital Management grew its holdings in Boeing by 0.4% during the second quarter. IMS Capital Management now owns 16,032 shares of the aircraft producer’s stock valued at $2,759,000 after purchasing an additional 62 shares during the period. Finally, Meeder Advisory Services Inc. grew its holdings in Boeing by 0.9% during the first quarter. Meeder Advisory Services Inc. now owns 7,559 shares of the aircraft producer’s stock valued at $1,459,000 after purchasing an additional 65 shares during the period. 64.82% of the stock is currently 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.