Boeing (NYSE:BA) Stock Jumps 2.2% - Here's Why

Key Points

• Boeing shares rose 2.2% to about $175.34 in midday trading, with volume roughly 29% above the average session.
• Analyst sentiment remains positive but mixed: Boeing has a consensus “Moderate Buy” rating and an average price target of $246.92, despite several recent downgrades and target cuts.
• Boeing’s latest quarterly results showed revenue of $24.19 billion, above estimates, but adjusted EPS of negative $0.34 missed expectations; analysts forecast a full-year loss of $1.72 per share.

The Boeing Company (NYSE:BA - Get Free Report) shares were up 2.2% during mid-day trading on Monday. The stock traded as high as $177.37 and last traded at $175.3350. Approximately 9,248,291 shares were traded during trading, an increase of 29% from the average session volume of 7,144,196 shares. The stock had previously closed at $171.55.

Analysts Set New Price Targets

A number of equities analysts have issued reports on BA shares. Deutsche Bank Aktiengesellschaft increased their price objective on Boeing from $244.00 to $248.00 and gave the stock a "hold" rating in a report on Wednesday, July 29th. Cantor Fitzgerald cut shares of Boeing to a "neutral" rating in a report on Tuesday, August 11th. JPMorgan Chase & Co. cut their price target on Boeing from $290.00 to $240.00 and set an "overweight" rating for the company in a research note on Wednesday, October 28th. Roth Capital cut Boeing to a "neutral" rating in a research report on Wednesday, October 28th. Finally, Jefferies Financial Group lowered Boeing from a "buy" rating to a "hold" rating in a research note on Wednesday, October 28th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, eight have assigned a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat, Boeing currently has an average rating of "Moderate Buy" and a consensus target price of $246.92.

Boeing Price Performance

The firm has a fifty day moving average of $196.12 and a two-hundred day moving average of $217.21. The stock has a market capitalization of $138.94 billion, a P/E ratio of 19.08 and a beta of 1.26. The company has a debt-to-equity ratio of 6.31, a current ratio of 1.13 and a quick ratio of 0.34.

Boeing (NYSE:BA - Get Free Report) last released its quarterly earnings data on Tuesday, October 27th. The aircraft producer reported ($0.34) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.25) by ($0.09). The business had revenue of $24.19 billion for the quarter, compared to the consensus estimate of $23.95 billion. Boeing had a net margin of 7.98% and a negative return on equity of 42.40%. Boeing's revenue for the quarter was up 3.9% on a year-over-year basis. During the same quarter in the prior year, the business posted ($7.47) earnings per share. On average, analysts predict that The Boeing Company will post -1.72 EPS for the current year.

Institutional Trading of Boeing

Several large investors have recently added to or reduced their stakes in BA. Highland Investment Advisors LLC acquired a new position in Boeing during the second quarter valued at $26,000. Strategic Wealth Advisors LLC purchased a new position in shares of Boeing during the 2nd quarter valued at about $27,000. Retirement Wealth Solutions LLC raised its stake in shares of Boeing by 3,575.0% during the 3rd quarter. Retirement Wealth Solutions LLC now owns 147 shares of the aircraft producer's stock valued at $27,000 after buying an additional 143 shares during the last quarter. Bell Investment Advisors Inc acquired a new position in shares of Boeing in the 2nd quarter valued at about $29,000. Finally, Security National Bank of SO Dak acquired a new position in shares of Boeing in the 2nd quarter valued at about $30,000. Hedge funds and other institutional investors own 64.82% of the company's stock.

About Boeing

The Boeing Company NYSE: BA is a global aerospace company that designs, manufactures and supports commercial airplanes, military aircraft, satellites, space systems and related products and services. Its offerings serve airlines, government agencies, defense organizations and other customers worldwide.

Boeing operates through three principal business areas: Commercial Airplanes, which develops and produces passenger and cargo aircraft; Defense, Space & Security, which provides military aircraft, weapons systems, satellites and space-related platforms; and Global Services, which offers parts, maintenance, training, engineering and other lifecycle support.

Founded in 1916 by William Boeing, the company has grown into one of the world's major aerospace manufacturers.

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