Boeing (NYSE:BA) Shares Up 2.8% – Here’s Why

The Boeing Company (NYSE:BA)’s share price traded up 2.8% on Friday . The stock traded as high as $211.62 and last traded at $210.5660. 4,123,438 shares traded hands during mid-day trading, a decline of 37% from the average daily volume of 6,582,826 shares. The stock had previously closed at $204.80.

Analysts Set New Price Targets

BA has been the topic of a number of recent analyst reports. Btg Pactual set a $260.00 price target on Boeing in a report on Tuesday, July 14th. William Blair reaffirmed an “outperform” rating on shares of Boeing in a research note on Tuesday, July 28th. Citigroup cut Boeing from a “buy” rating to a “sell” rating in a research report on Tuesday, August 11th. Cantor Fitzgerald downgraded Boeing to a “neutral” rating in a research note on Tuesday, August 11th. Finally, JPMorgan Chase & Co. boosted their price target on Boeing from $270.00 to $290.00 and gave the stock an “overweight” rating in a report on Wednesday, July 29th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, six have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $272.58.

Boeing Stock Up 2.8%

The company has a quick ratio of 0.33, a current ratio of 1.14 and a debt-to-equity ratio of 6.77. The company has a market capitalization of $166.43 billion, a PE ratio of 91.15 and a beta of 1.21. The company’s 50 day moving average is $218.81 and its two-hundred day moving average is $219.27.

Boeing (NYSE:BA) last announced its quarterly earnings results on Tuesday, July 28th. The aircraft producer reported ($0.76) EPS for the quarter, missing the consensus estimate of ($0.34) by ($0.42). Boeing had a negative return on equity of 346.82% and a net margin of 2.41%.The company had revenue of $24.56 billion during the quarter, compared to analysts’ expectations of $24.26 billion. During the same quarter in the previous year, the firm earned ($1.24) EPS. The firm’s revenue for the quarter was up 8.0% compared to the same quarter last year. On average, analysts anticipate that The Boeing Company will post -0.9 earnings per share for the current year.

Institutional Investors Weigh In On Boeing

A number of hedge funds have recently made changes to their positions in BA. Measured Wealth Private Client Group LLC bought a new position in Boeing during the third quarter valued at approximately $25,000. Strive Financial Group LLC bought a new stake in Boeing in the 4th quarter worth approximately $25,000. CrossGen Wealth LLC purchased a new stake in shares of Boeing during the 4th quarter worth approximately $26,000. Highland Investment Advisors LLC bought a new position in shares of Boeing during the 2nd quarter valued at approximately $26,000. Finally, 1 North Wealth Services LLC purchased a new position in shares of Boeing in the fourth quarter valued at $27,000. 64.82% of the stock is currently owned by hedge funds and other institutional investors.

Boeing Company Profile

The Boeing Company is a global aerospace company that designs, manufactures and services commercial airplanes, military aircraft, satellites, space systems and other aerospace products. Its principal business areas include commercial airplanes, defense and security, and aftermarket services that support aircraft operations throughout their life cycles.

Boeing’s commercial portfolio includes the 737, 767, 777 and 787 families of jetliners, while its defense and space operations provide products and services for the U.S.