Boeing (NYSE:BA) Shares Down 1.6% – What’s Next?

The Boeing Company (NYSE:BA)’s stock price was down 1.6% on Friday . The stock traded as low as $168.55 and last traded at $168.94. 1,953,247 shares were traded during trading, a decline of 76% from the average daily volume of 7,984,116 shares. The stock had previously closed at $171.76.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on BA shares. Robert W. Baird decreased 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. TD Cowen lowered their price objective on shares of Boeing from $200.00 to $190.00 and set a “buy” rating on the stock in a research report on Monday, October 14th. The Goldman Sachs Group dropped their price objective on shares of Boeing from $232.00 to $202.00 and set a “buy” rating on the stock in a research note on Tuesday, September 24th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Boeing from $184.00 to $215.00 and gave the company a “buy” rating in a research note on Thursday, January 2nd. Finally, UBS Group dropped their price target on shares of Boeing from $215.00 to $195.00 and set a “buy” rating on the stock in a research note on Thursday, October 24th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $192.21.

Boeing Stock Performance

The stock’s 50-day simple moving average is $161.39 and its two-hundred day simple moving average is $165.25. The stock has a market cap of $106.38 billion, a price-to-earnings ratio of -13.34 and a beta of 1.52.

Boeing (NYSE:BA) last posted its quarterly earnings data on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share 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 analyst estimates of $17.81 billion. The business’s revenue was down 1.5% compared to the same quarter last year. During the same period in the previous year, the company earned ($3.26) earnings per share. As a group, research analysts predict that The Boeing Company will post -16.18 earnings per share for the current year.

Institutional Trading of Boeing

A number of hedge funds have recently bought and sold shares of the stock. RPg Family Wealth Advisory LLC bought a new stake in shares of Boeing during the third quarter valued at approximately $28,000. Cedar Wealth Management LLC acquired a new position in shares of Boeing in the 3rd quarter valued at $30,000. Kiely Wealth Advisory Group Inc. bought a new position in shares of Boeing during the 2nd quarter worth about $33,000. Planning Capital Management Corp lifted its holdings in shares of Boeing by 741.0% during the 3rd quarter. Planning Capital Management Corp now owns 328 shares of the aircraft producer’s stock worth $50,000 after acquiring an additional 289 shares during the period. Finally, Meeder Asset Management Inc. boosted its position in shares of Boeing by 325.4% during the 2nd quarter. Meeder Asset Management Inc. now owns 302 shares of the aircraft producer’s stock valued at $55,000 after acquiring an additional 231 shares in the last quarter. 64.82% of the stock is 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.