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

The Boeing Company (NYSE:BA) shares were up 0.6% during trading 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. Approximately 2,084,499 shares were traded during trading, a decline of 71% from the average daily volume of 7,121,934 shares. The stock had previously closed at $171.87.

Several other research firms have also recently issued reports on BA. Morgan Stanley decreased their price target on Boeing from $195.00 to $170.00 and set an “equal weight” rating on the stock in a report on Thursday, October 24th. DZ Bank cut shares of Boeing from a “buy” rating to a “hold” rating and set a $152.00 price target for the company. in a research report on Tuesday, October 15th. UBS Group reduced their price objective on shares of Boeing from $215.00 to $195.00 and set a “buy” rating on the stock in a research note on Thursday, October 24th. TD Cowen cut their target price on Boeing from $200.00 to $190.00 and set a “buy” rating on the stock in a research note on Monday, October 14th. Finally, Wells Fargo & Company reduced their target price on Boeing from $86.00 to $85.00 and set an “underweight” rating on the stock in a report on Monday, November 4th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $191.16.

Institutional Investors Weigh In On Boeing

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. RPg Family Wealth Advisory LLC acquired a new position in Boeing during the third quarter worth $28,000. Kiely Wealth Advisory Group Inc. bought a new stake in shares of Boeing in the 2nd quarter valued at about $33,000. Cedar Wealth Management LLC acquired a new stake in Boeing in the 3rd quarter valued at about $30,000. Meeder Asset Management Inc. grew its holdings in Boeing by 325.4% during the second 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 period. Finally, Fairscale Capital LLC acquired a new position in Boeing during the second quarter worth approximately $59,000. 64.82% of the stock is owned by institutional investors.

Boeing Price Performance

The company has a market capitalization of $105.03 billion, a price-to-earnings ratio of -13.17 and a beta of 1.56. The stock has a 50-day moving average price of $159.13 and a 200-day moving average price of $165.53.

Boeing (NYSE:BA) last released its quarterly earnings data 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 business had revenue of $17.84 billion for the quarter, compared to analysts’ expectations of $17.81 billion. Boeing’s revenue was down 1.5% on a year-over-year basis. During the same quarter in the prior year, the company posted ($3.26) EPS. Equities analysts forecast that The Boeing Company will post -16.18 earnings per share 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.