NEW YORK (TheStreet) -- Shares of Boeing (BA) - Get Boeing Company Report are surging, up 4.43% to $145.83 in midday trading Thursday, after the aerospace giant reported fourth quarter profit and revenue above analysts' expectations yesterday. The stock hit an all-time high of $145.98 earlier today.
Boeing got a boost from an increase in commercial plane deliveries with a record 723 jets, surpassing a previous record of 648 due to strong demand from airlines.
The company noted that the lower fuel prices and positive traffic trends are beneficial to the industry as a whole.
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Yesterday, shares of Boeing traded on nearly three times its average trading volume.
Chicago, IL-based Boeing is an aerospace company that develops, produces and markets commercial jet aircraft, as well as engages in the research, development, production and modification of manned and unmanned military weapons.
Separately, TheStreet Ratings team rates BOEING CO as a Buy with a ratings score of A-. TheStreet Ratings Team has this to say about their recommendation:
"We rate BOEING CO (BA) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its revenue growth, impressive record of earnings per share growth, compelling growth in net income, largely solid financial position with reasonable debt levels by most measures and notable return on equity. We feel these strengths outweigh the fact that the company shows low profit margins."
- You can view the full analysis from the report here: BA Ratings Report