Boeing (NYSE:BA) Trading 0.6% Higher After Analyst Upgrade

The Boeing Company (NYSE:BA) shot up 0.6% on Friday after Deutsche Bank Aktiengesellschaft raised their price target on the stock from $184.00 to $215.00. Deutsche Bank Aktiengesellschaft currently has a buy rating on the stock. Boeing traded as high as $173.98 and last traded at $172.90. 2,084,499 shares changed hands during trading, a decline of 71% from the average session volume of 7,121,934 shares. The stock had previously closed at $171.87.

BA has been the topic of a number of other reports. Sanford C. Bernstein downgraded Boeing from an “outperform” rating to a “market perform” rating and cut their price target for the company from $195.00 to $169.00 in a report on Wednesday, October 30th. Robert W. Baird reduced their target price on shares of Boeing from $240.00 to $200.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. JPMorgan Chase & Co. lowered their price target on shares of Boeing from $195.00 to $190.00 and set an “overweight” rating on the stock in a report on Monday, November 25th. The Goldman Sachs Group cut their target price on Boeing from $232.00 to $202.00 and set a “buy” rating on the stock in a research report on Tuesday, September 24th. Finally, DZ Bank downgraded Boeing from a “buy” rating to a “hold” rating and set a $152.00 price target on the stock. in a research note on Tuesday, October 15th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $191.16.

Institutional Trading of Boeing

Institutional investors have recently bought and sold shares of the business. RPg Family Wealth Advisory LLC purchased a new position in shares of Boeing during the 3rd quarter valued at approximately $28,000. Kiely Wealth Advisory Group Inc. acquired a new stake in shares of Boeing in the second quarter valued at about $33,000. Cedar Wealth Management LLC purchased a new stake in shares of Boeing during the third quarter worth about $30,000. Meeder Asset Management Inc. raised 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 worth $55,000 after purchasing an additional 231 shares during the last quarter. Finally, Fairscale Capital LLC purchased a new position in Boeing in the 2nd quarter valued at about $59,000. 64.82% of the stock is owned by institutional investors and hedge funds.

Boeing Stock Performance

The company has a 50 day simple moving average of $158.80 and a 200 day simple moving average of $165.49. The company has a market capitalization of $106.89 billion, a PE ratio of -13.40 and a beta of 1.56.

Boeing (NYSE:BA) last issued its quarterly earnings results on Wednesday, October 23rd. The aircraft producer reported ($10.44) EPS 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 analysts’ expectations of $17.81 billion. The business’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same period last year, the firm earned ($3.26) EPS. As a group, equities research analysts anticipate that The Boeing Company will post -16.18 EPS for the current year.

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.