Boeing (NYSE:BA) Shares Up 1% - What's Next?

The Boeing Company (NYSE:BA) saw its shares rise by 1% in mid-day trading on Wednesday. The stock peaked at $155.60 before settling at $154.51. During this trading period, around 7.8 million shares were exchanged, reflecting an 8% decrease from the average daily volume of approximately 8.5 million shares. The previous closing price for the stock was $152.98.

Analyst Upgrades and Downgrades

Recent commentary from analysts suggests there may be opportunities with Boeing. The Goldman Sachs Group adjusted their target price on Boeing from $232.00 to $202.00 while maintaining a "buy" rating as of September 24th. Similarly, Deutsche Bank lowered its price target from $225.00 to $195.00, also issuing a "buy" rating on October 3rd. Jefferies Financial Group decreased their target from $270.00 to $240.00 with a "buy" rating as of September 23rd. JPMorgan Chase & Co. revised their price target from $235.00 to $195.00, issuing an "overweight" rating on October 14th. Additionally, Robert W. Baird lowered their target from $240.00 to $200.00 while maintaining an "outperform" rating on October 24th. Among analysts, three have given the stock a sell rating, nine have rated it as a hold, and thirteen analysts issued buy ratings, with one recommending a strong buy. MarketBeat reports an average rating of "Hold" with a consensus target price of $190.42.

Boeing Stock Performance

Currently, Boeing has a market capitalization of approximately $95.85 billion, a price-to-earnings (P/E) ratio of -43.70, and a beta of 1.57. The stock's 50-day moving average is $158.72, while the 200-day moving average stands at $171.36. Boeing recently reported its quarterly earnings on October 23rd, revealing earnings per share (EPS) of -$10.44, slightly missing analysts' expectations of -$10.34 by $0.10. The quarter's revenue was reported at $17.84 billion, which exceeded the estimated $17.81 billion. Comparatively, the same quarter last year showed an EPS of -$3.26. This year's revenue has seen a downturn of 1.5%. Analysts predict that Boeing will end the current fiscal year with an EPS of -$5.35.

Institutional Trading of Boeing

In terms of institutional trading, several investors made adjustments to their positions in Boeing. Sentry Investment Management LLC increased its stake by 15.3% during the third quarter, now owning 2,776 shares valued at $422,000. United Advisor Group LLC initiated a new position worth $369,000, while Catalyst Capital Advisors LLC invested $500,000 in a new stake. QRG Capital Management Inc. boosted its stake by 6.3% to own 53,190 shares valued at $8.1 million following the acquisition of an additional 3,132 shares. Asset Management One Co. Ltd. increased its holdings in Boeing by 5.2% during the third quarter, now owning 319,103 shares valued at approximately $48.5 million. Overall, institutional investors own 64.82% of Boeing’s stock.

About Boeing

Boeing, along with its subsidiaries, operates across various sectors including the design, development, manufacturing, and servicing of commercial jetliners and military aircraft. The company is also involved in satellite production, missile defense, human spaceflight, and launching systems.

Final Thoughts

As Boeing continues to navigate through these challenging times, investors are closely watching the company's performance and the analysts' perspectives. The reactions from influential investment firms signal a cautious yet optimistic outlook for Boeing.

Boeing, Shares, Stock