Boeing (NYSE:BA) Shares Down 0% – What’s Next?

The Boeing Company (NYSE:BA) shares traded down 0% during mid-day trading on Wednesday . The stock traded as low as $173.88 and last traded at $175.55. 1,726,580 shares changed hands during trading, a decline of 78% from the average session volume of 7,686,167 shares. The stock had previously closed at $175.56.

Analysts Set New Price Targets

BA has been the subject of several recent research reports. TD Cowen lowered their price objective on Boeing from $200.00 to $190.00 and set a “buy” rating for the company in a research report on Monday, October 14th. Citigroup lowered their price target on shares of Boeing from $209.00 to $207.00 and set a “buy” rating for the company in a report on Friday. UBS Group decreased their price objective on shares of Boeing from $215.00 to $195.00 and set a “buy” rating on the stock in a research report on Thursday, October 24th. Sanford C. Bernstein lowered shares of Boeing from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $195.00 to $169.00 in a report on Wednesday, October 30th. Finally, Benchmark restated a “buy” rating and set a $250.00 price target on shares of Boeing in a report on Thursday, October 24th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $192.11.

Boeing Stock Down 1.4 %

The company has a fifty day simple moving average of $165.70 and a 200-day simple moving average of $164.62. The firm has a market cap of $108.77 billion, a P/E ratio of -13.64 and a beta of 1.52.

Boeing (NYSE:BA) last posted its quarterly earnings results on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share 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 analyst estimates of $17.81 billion. Boeing’s revenue for the quarter was down 1.5% on a year-over-year basis. During the same period in the prior year, the firm posted ($3.26) EPS. As a group, research analysts forecast that The Boeing Company will post -16.39 EPS for the current year.

Institutional Trading of Boeing

Several institutional investors have recently made changes to their positions in BA. Thrivent Financial for Lutherans boosted its stake in Boeing by 28.2% during the second quarter. Thrivent Financial for Lutherans now owns 32,646 shares of the aircraft producer’s stock valued at $5,942,000 after buying an additional 7,182 shares during the last quarter. Public Sector Pension Investment Board boosted its position in shares of Boeing by 72.7% during the 2nd quarter. Public Sector Pension Investment Board now owns 21,790 shares of the aircraft producer’s stock valued at $3,966,000 after acquiring an additional 9,171 shares during the last quarter. Deerfield Management Company L.P. Series C grew its holdings in shares of Boeing by 45.9% in the second quarter. Deerfield Management Company L.P. Series C now owns 3,078 shares of the aircraft producer’s stock valued at $560,000 after purchasing an additional 969 shares in the last quarter. Dark Forest Capital Management LP bought a new stake in Boeing in the second quarter worth $309,000. Finally, MBB Public Markets I LLC raised its stake in Boeing by 1,878.3% during the second quarter. MBB Public Markets I LLC now owns 40,694 shares of the aircraft producer’s stock valued at $7,407,000 after purchasing an additional 38,637 shares in the last quarter. Hedge funds and other institutional investors own 64.82% of the company’s stock.

About Boeing

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.