Boeing (NYSE:BA) Trading 1.9% Higher After Analyst Upgrade

The Boeing Company (NYSE:BA) shares were up 1.9% during mid-day trading on Thursday after JPMorgan Chase & Co. raised their price target on the stock from $190.00 to $200.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Boeing traded as high as $177.76 and last traded at $177.01. Approximately 1,948,299 shares changed hands during mid-day trading, a decline of 77% from the average daily volume of 8,617,185 shares. The stock had previously closed at $173.66.

A number of other equities analysts have also recently commented on BA. Royal Bank of Canada reaffirmed an “outperform” rating and set a $200.00 price objective on shares of Boeing in a research report on Wednesday. TD Cowen decreased their target price on Boeing from $200.00 to $190.00 and set a “buy” rating for the company in a research report on Monday, October 14th. Morgan Stanley cut their price objective on Boeing from $195.00 to $170.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 24th. Susquehanna increased their price target on shares of Boeing from $200.00 to $205.00 and gave the stock a “positive” rating in a report on Wednesday. Finally, Citigroup decreased their price target on shares of Boeing from $209.00 to $207.00 and set a “buy” rating on the stock in a report on Friday, January 24th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $195.00.

Institutional Trading of Boeing

Several large investors have recently modified their holdings of the business. Quarry LP boosted its holdings in shares of Boeing by 68.3% in the second quarter. Quarry LP now owns 611 shares of the aircraft producer’s stock valued at $111,000 after acquiring an additional 248 shares in the last quarter. Regal Investment Advisors LLC grew its stake in shares of Boeing by 10.2% in the 2nd quarter. Regal Investment Advisors LLC now owns 3,440 shares of the aircraft producer’s stock valued at $626,000 after buying an additional 317 shares in the last quarter. Granite Bay Wealth Management LLC acquired a new stake in Boeing in the second quarter valued at approximately $561,000. Clearbridge Investments LLC raised its holdings in shares of Boeing by 6,763.5% during the 2nd quarter. Clearbridge Investments LLC now owns 287,237 shares of the aircraft producer’s stock valued at $52,280,000 after purchasing an additional 283,052 shares in the last quarter. Finally, Strategic Investment Solutions Inc. IL acquired a new stake in shares of Boeing in the 2nd quarter valued at $82,000. 64.82% of the stock is currently owned by institutional investors and hedge funds.

Boeing Price Performance

The stock’s fifty day moving average is $168.24 and its 200-day moving average is $164.26. The stock has a market capitalization of $109.58 billion, a P/E ratio of -13.74 and a beta of 1.52.

Boeing (NYSE:BA) last issued its earnings results on Tuesday, January 28th. The aircraft producer reported ($5.90) EPS for the quarter, missing the consensus estimate of ($1.60) by ($4.30). During the same period in the previous year, the company earned ($0.47) earnings per share. On average, research analysts expect that The Boeing Company will post -16.39 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.