Boeing (NYSE:BA) Trading Up 1% – Should You Buy?

The Boeing Company (NYSE:BA)’s share price rose 1% during trading on Friday . The company traded as high as $179.33 and last traded at $178.80. Approximately 4,478,785 shares changed hands during mid-day trading, a decline of 52% from the average daily volume of 9,290,008 shares. The stock had previously closed at $177.04.

Analysts Set New Price Targets

A number of analysts have recently issued reports on BA shares. TD Cowen decreased their target price on Boeing from $200.00 to $190.00 and set a “buy” rating for the company in a report on Monday, October 14th. DZ Bank downgraded shares of Boeing from a “buy” rating to a “hold” rating and set a $152.00 target price for the company. in a research note on Tuesday, October 15th. Northcoast Research raised shares of Boeing from a “sell” rating to a “neutral” rating in a research report on Thursday, December 12th. Royal Bank of Canada restated an “outperform” rating and set a $200.00 price objective on shares of Boeing in a research note on Wednesday, October 30th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Boeing from $195.00 to $190.00 and set an “overweight” rating on the stock in a research note on Monday, November 25th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Boeing presently has an average rating of “Hold” and an average target price of $190.11.

Boeing Price Performance

The business has a fifty day moving average price of $154.58 and a two-hundred day moving average price of $166.11. The firm has a market cap of $111.20 billion, a PE ratio of -13.94 and a beta of 1.56.

Boeing (NYSE:BA) last posted its quarterly earnings results on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($10.34) by ($0.10). The firm had revenue of $17.84 billion for the quarter, compared to analyst estimates of $17.81 billion. Boeing’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same period last year, the business earned ($3.26) earnings per share. As a group, sell-side analysts forecast that The Boeing Company will post -16.18 EPS for the current fiscal year.

Institutional Investors Weigh In On Boeing

A number of large investors have recently bought and sold shares of BA. Wealth Alliance Advisory Group LLC increased its stake in shares of Boeing by 1.6% in the second quarter. Wealth Alliance Advisory Group LLC now owns 3,798 shares of the aircraft producer’s stock worth $691,000 after buying an additional 60 shares during the period. IMS Capital Management grew its holdings in Boeing by 0.4% in the 2nd quarter. IMS Capital Management now owns 16,032 shares of the aircraft producer’s stock worth $2,759,000 after acquiring an additional 62 shares during the last quarter. Peoples Financial Services CORP. increased its position in shares of Boeing by 0.8% in the third quarter. Peoples Financial Services CORP. now owns 8,893 shares of the aircraft producer’s stock valued at $1,352,000 after acquiring an additional 67 shares during the period. POM Investment Strategies LLC raised its stake in shares of Boeing by 7.0% during the second quarter. POM Investment Strategies LLC now owns 1,070 shares of the aircraft producer’s stock valued at $195,000 after acquiring an additional 70 shares during the last quarter. Finally, Banque Cantonale Vaudoise boosted its holdings in shares of Boeing by 0.9% during the second quarter. Banque Cantonale Vaudoise now owns 7,678 shares of the aircraft producer’s stock worth $1,398,000 after purchasing an additional 70 shares during the period. 64.82% of the stock is currently owned by institutional investors.

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.