Boeing (NYSE:BA) Stock Price Up 4.6% – Here’s Why

The Boeing Company (NYSE:BA) shares shot up 4.6% during mid-day trading on Tuesday . The stock traded as high as $188.48 and last traded at $183.24. 10,372,844 shares traded hands during trading, an increase of 30% from the average session volume of 7,979,722 shares. The stock had previously closed at $175.16.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on BA. Wells Fargo & Company raised their price target on shares of Boeing from $85.00 to $103.00 and gave the stock an “underweight” rating in a research note on Wednesday. DZ Bank lowered shares of Boeing from a “buy” rating to a “hold” rating and set a $152.00 target price on the stock. in a research note on Tuesday, October 15th. Susquehanna upped their price target on Boeing from $200.00 to $205.00 and gave the company a “positive” rating in a research report on Wednesday. Citigroup reduced their price objective on Boeing from $209.00 to $207.00 and set a “buy” rating on the stock in a research report on Friday, January 24th. Finally, UBS Group upped their target price on Boeing from $208.00 to $217.00 and gave the company a “buy” rating in a report on Wednesday. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $195.00.

Boeing Trading Up 3.3 %

The business’s fifty day moving average price is $168.24 and its 200 day moving average price is $164.26. The firm has a market capitalization of $110.95 billion, a price-to-earnings ratio of -13.91 and a beta of 1.52.

Boeing (NYSE:BA) last announced its earnings results on Tuesday, January 28th. The aircraft producer reported ($5.90) EPS for the quarter, missing analysts’ consensus estimates of ($1.60) by ($4.30). During the same quarter last year, the firm earned ($0.47) EPS. As a group, sell-side analysts forecast that The Boeing Company will post -16.39 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Valmark Advisers Inc. increased its position in Boeing by 9.2% during the 4th quarter. Valmark Advisers Inc. now owns 3,427 shares of the aircraft producer’s stock worth $607,000 after purchasing an additional 288 shares in the last quarter. MOKAN Wealth Management Inc. acquired a new position in Boeing during the fourth quarter worth approximately $222,000. Blue Zone Wealth Advisors LLC boosted its holdings in shares of Boeing by 0.8% in the 4th quarter. Blue Zone Wealth Advisors LLC now owns 21,564 shares of the aircraft producer’s stock valued at $3,817,000 after purchasing an additional 169 shares during the last quarter. Lee Financial Co purchased a new stake in shares of Boeing during the 4th quarter valued at $222,000. Finally, Secured Retirement Advisors LLC acquired a new stake in shares of Boeing during the 4th quarter worth $696,000. 64.82% of the stock is owned by hedge funds and other institutional investors.

Boeing Company Profile

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.