Boeing (NYSE:BA) Shares Down 1.2% – Here’s Why

The Boeing Company (NYSE:BA) was down 1.2% during mid-day trading on Monday . The company traded as low as $174.64 and last traded at $175.21. Approximately 2,706,179 shares were traded during trading, a decline of 71% from the average daily volume of 9,340,104 shares. The stock had previously closed at $177.35.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Wells Fargo & Company lowered their price objective on shares of Boeing from $86.00 to $85.00 and set an “underweight” rating on the stock in a research report on Monday, November 4th. JPMorgan Chase & Co. lowered their price target on shares of Boeing from $195.00 to $190.00 and set an “overweight” rating on the stock in a report on Monday, November 25th. Morgan Stanley reduced their price objective on Boeing from $195.00 to $170.00 and set an “equal weight” 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 decreased their price objective for the stock from $195.00 to $169.00 in a report on Wednesday, October 30th. Finally, Susquehanna dropped their price objective on shares of Boeing from $210.00 to $200.00 and set a “positive” rating on the stock in a report on Thursday, October 24th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Boeing has an average rating of “Hold” and an average price target of $190.11.

Boeing Trading Up 0.9 %

The company’s fifty day simple moving average is $156.21 and its 200 day simple moving average is $165.56. The stock has a market capitalization of $110.87 billion, a P/E ratio of -13.90 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) earnings per share (EPS) for the quarter, missing the consensus estimate of ($10.34) by ($0.10). The company had revenue of $17.84 billion during the quarter, compared to the consensus estimate of $17.81 billion. During the same period last year, the company earned ($3.26) earnings per share. The business’s revenue for the quarter was down 1.5% compared to the same quarter last year. Equities research analysts predict that The Boeing Company will post -16.18 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. RPg Family Wealth Advisory LLC bought a new stake in Boeing during the third quarter valued at approximately $28,000. Cedar Wealth Management LLC purchased a new stake in shares of Boeing during the 3rd quarter valued at $30,000. Kiely Wealth Advisory Group Inc. bought a new stake in shares of Boeing during the 2nd quarter worth $33,000. Strategic Financial Concepts LLC purchased a new position in Boeing in the second quarter worth $41,000. Finally, Planning Capital Management Corp increased its stake in Boeing by 741.0% in the third quarter. Planning Capital Management Corp now owns 328 shares of the aircraft producer’s stock valued at $50,000 after acquiring an additional 289 shares during the last quarter. Hedge funds and other institutional investors own 64.82% of the company’s stock.

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.