Boeing (NYSE:BA) Trading 2.8% Higher – Still a Buy?

Shares of The Boeing Company (NYSE:BA) traded up 2.8% during mid-day trading on Friday . The company traded as high as $147.77 and last traded at $147.36. 2,824,480 shares traded hands during trading, a decline of 69% from the average session volume of 9,150,751 shares. The stock had previously closed at $143.41.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Benchmark restated a “buy” rating and set a $250.00 price objective on shares of Boeing in a research report on Thursday, October 24th. Citigroup decreased their price objective on Boeing from $224.00 to $209.00 and set a “buy” rating on the stock in a research report on Tuesday, October 15th. JPMorgan Chase & Co. decreased their price objective on Boeing from $235.00 to $195.00 and set an “overweight” rating on the stock in a research report on Monday, October 14th. Wells Fargo & Company decreased their price objective on Boeing from $86.00 to $85.00 and set an “underweight” rating on the stock in a research report on Monday, November 4th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $200.00 target price on shares of Boeing in a research note on Wednesday, October 30th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Boeing currently has a consensus rating of “Hold” and an average target price of $190.37.

Boeing Price Performance

The company has a market capitalization of $92.72 billion, a price-to-earnings ratio of -11.42 and a beta of 1.57. The firm has a fifty day simple moving average of $151.85 and a 200 day simple moving average of $168.62.

Boeing (NYSE:BA) last posted its quarterly earnings data on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share for the quarter, missing analysts’ consensus estimates of ($10.34) by ($0.10). The business had revenue of $17.84 billion for the quarter, compared to the consensus estimate of $17.81 billion. The business’s revenue for the quarter was down 1.5% compared to the same quarter last year. During the same period in the previous year, the company earned ($3.26) EPS. Research analysts predict that The Boeing Company will post -16.2 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Hobbs Group Advisors LLC purchased a new stake in Boeing in the 2nd quarter valued at $34,000. RPg Family Wealth Advisory LLC purchased a new stake in shares of Boeing in the third quarter valued at about $28,000. Kiely Wealth Advisory Group Inc. purchased a new position in Boeing during the second quarter worth about $33,000. Cedar Wealth Management LLC acquired a new position in Boeing in the 3rd quarter valued at about $30,000. Finally, Harel Insurance Investments & Financial Services Ltd. grew its stake in shares of Boeing by 351.1% in 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 period. 64.82% of the stock is owned by institutional investors and hedge funds.

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.