Boeing (NYSE:BA) Trading Up 2.8% – Here’s What Happened

Shares of The Boeing Company (NYSE:BA) were up 2.8% during trading on Friday . The stock traded as high as $211.62 and last traded at $210.5660. 4,123,438 shares changed 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.

Boeing News Roundup

Here are the key news stories impacting Boeing this week:

• Positive Sentiment: Boeing and Anduril advanced to Phase 2 of the U.S. Army’s Indirect Fires Protection Capability (IFPC) program. Progress in the competition supports Boeing’s defense growth prospects and signals continued engagement on a potentially meaningful military program. Boeing advances to Phase 2 of the U.S. Army’s IFPC program
• Positive Sentiment: The Department of War awarded Boeing a $131.23 billion indefinite-delivery/indefinite-quantity ceiling contract for the F-15 Eagle Crest program. The award could provide substantial long-term visibility for Boeing’s defense business, although it does not obligate the government to purchase the full amount. Boeing F-15 ceiling contract details
• Neutral Sentiment: Coverage noted that Boeing outperformed the broader market in the latest session. The move reflects favorable market momentum, but the report provided no new company-specific financial results or guidance to establish a lasting change in valuation. Boeing outperforms the broader market
• Neutral Sentiment: The U.S. Navy is expected to decide between Boeing and Northrop Grumman for a sixth-generation fighter program. Winning could create a significant future opportunity, but the outcome remains uncertain until the announcement. Navy fighter competition between Boeing and Northrop Grumman
• Negative Sentiment: Boeing made another executive-roster change as it pursues a broader industrial blueprint. Leadership restructuring can create near-term uncertainty about execution and strategy, contributing to some investor caution. Boeing executive lineup change

Analysts Set New Price Targets

BA has been the subject of a number of research analyst reports. JPMorgan Chase & Co. lifted their target price on shares of Boeing from $270.00 to $290.00 and gave the company an “overweight” rating in a report on Wednesday, July 29th. The Goldman Sachs Group cut Boeing from a “buy” rating to a “hold” rating in a research note on Tuesday, August 11th. Argus upgraded Boeing from a “hold” rating to a “buy” rating and set a $265.00 price target for the company in a research report on Tuesday, August 11th. Barclays cut Boeing from an “equal weight” rating to an “underweight” rating in a research note on Tuesday, August 11th. Finally, BNP Paribas Exane upgraded Boeing from an “underperform” rating to an “outperform” rating and boosted their price objective for the company from $230.00 to $300.00 in a report on Monday, August 3rd. One investment 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 given a Sell rating to the company’s stock. Based on data from MarketBeat, Boeing currently has a consensus rating of “Moderate Buy” and a consensus price target of $272.58.

Boeing Stock Performance

The firm’s 50 day moving average is $218.50 and its two-hundred day moving average is $219.21. The stock has a market capitalization of $166.43 billion, a PE ratio of 91.15 and a beta of 1.21. The company has a debt-to-equity ratio of 6.77, a quick ratio of 0.33 and a current ratio of 1.14.

Boeing (NYSE:BA) last released its earnings results on Tuesday, July 28th. The aircraft producer reported ($0.76) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.42). The business had revenue of $24.56 billion for the quarter, compared to analyst estimates of $24.26 billion. Boeing had a negative return on equity of 346.82% and a net margin of 2.41%.Boeing’s quarterly revenue was up 8.0% compared to the same quarter last year. During the same quarter last year, the company earned ($1.24) earnings per share. As a group, research analysts predict that The Boeing Company will post -0.91 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Measured Wealth Private Client Group LLC acquired a new stake in Boeing in the 3rd quarter valued at about $25,000. Strive Financial Group LLC acquired a new position in shares of Boeing during the fourth quarter worth about $25,000. CrossGen Wealth LLC acquired a new position in shares of Boeing during the fourth quarter worth about $26,000. Highland Investment Advisors LLC purchased a new stake in shares of Boeing during the second quarter worth approximately $26,000. Finally, 1 North Wealth Services LLC purchased a new stake in shares of Boeing during the fourth quarter worth approximately $27,000. 64.82% of the stock is currently owned by hedge funds and other institutional investors.

About Boeing

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.