Boeing (NYSE:BA) Reaches New 52-Week Low – Time to Sell?

Shares of The Boeing Company (NYSE:BA) hit a new 52-week low during trading on Wednesday . The stock traded as low as $141.77 and last traded at $142.68, with a volume of 4097379 shares traded. The stock had previously closed at $145.17.

Analyst Ratings Changes

A number of research firms recently commented on BA. Jefferies Financial Group lowered their price target on shares of Boeing from $270.00 to $240.00 and set a “buy” rating on the stock in a report on Monday, September 23rd. Stifel Nicolaus lifted their price objective on Boeing from $230.00 to $235.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Sanford C. Bernstein downgraded shares of Boeing from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $195.00 to $169.00 in a report on Wednesday, October 30th. TD Cowen reduced their target price on shares of Boeing from $200.00 to $190.00 and set a “buy” rating for the company in a research note on Monday, October 14th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $200.00 price target on shares of Boeing in a research note on Wednesday, October 30th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $190.37.

Boeing Trading Down 2.7 %

The business has a fifty day moving average price of $154.49 and a 200-day moving average price of $170.11.

Boeing (NYSE:BA) last posted 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 firm had revenue of $17.84 billion during the quarter, compared to analysts’ expectations of $17.81 billion. The firm’s revenue for the quarter was down 1.5% on a year-over-year basis. During the same quarter in the prior year, the business earned ($3.26) earnings per share. On average, analysts predict that The Boeing Company will post -16.09 EPS for the current year.

Institutional Investors Weigh In On Boeing

Several institutional investors have recently made changes to their positions in BA. Cedar Wealth Management LLC acquired a new stake in Boeing in the third quarter valued at approximately $30,000. Kiely Wealth Advisory Group Inc. acquired a new stake in shares of Boeing during the second quarter worth $33,000. Hobbs Group Advisors LLC acquired a new position in shares of Boeing in the 2nd quarter valued at $34,000. Harel Insurance Investments & Financial Services Ltd. raised its stake in shares of Boeing by 351.1% during the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 212 shares of the aircraft producer’s stock valued at $39,000 after buying an additional 165 shares during the last quarter. Finally, 1620 Investment Advisors Inc. purchased a new position in shares of Boeing during the 2nd quarter valued at about $39,000. Institutional investors own 64.82% of the company’s stock.

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.