Boeing (NYSE:BA) Trading 1.8% Higher – Still a Buy?

The Boeing Company (NYSE:BA) shares were up 1.8% during mid-day trading on Thursday . The company traded as high as $177.35 and last traded at $175.72. Approximately 3,464,722 shares traded hands during trading, a decline of 63% from the average daily volume of 9,262,925 shares. The stock had previously closed at $172.62.

Analyst Upgrades and Downgrades

BA has been the topic of several recent research reports. TD Cowen dropped their price objective on shares of Boeing from $200.00 to $190.00 and set a “buy” rating on the stock in a report on Monday, October 14th. Morgan Stanley lowered their price target on shares of Boeing from $195.00 to $170.00 and set an “equal weight” rating on the stock in a report on Thursday, October 24th. The Goldman Sachs Group cut their price target on Boeing from $232.00 to $202.00 and set a “buy” rating on the stock in a research report on Tuesday, September 24th. Citigroup decreased their price objective on Boeing from $224.00 to $209.00 and set a “buy” rating for the company in a report on Tuesday, October 15th. Finally, Benchmark reaffirmed a “buy” rating and set a $250.00 target price on shares of Boeing in a report on Thursday, October 24th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Boeing has a consensus rating of “Hold” and an average target price of $190.11.

Boeing Price Performance

The business has a fifty day simple moving average of $155.10 and a 200 day simple moving average of $166.06. The firm has a market cap of $109.64 billion, a price-to-earnings ratio of -13.75 and a beta of 1.56.

Boeing (NYSE:BA) last announced 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 during the quarter, compared to the consensus estimate of $17.81 billion. During the same quarter in the prior year, the firm earned ($3.26) EPS. The business’s quarterly revenue was down 1.5% compared to the same quarter last year. On average, research analysts anticipate that The Boeing Company will post -16.18 earnings per share for the current fiscal year.

Institutional Trading of Boeing

A number of hedge funds have recently bought and sold shares of BA. RPg Family Wealth Advisory LLC acquired a new stake in shares of Boeing in the third quarter valued at approximately $28,000. Cedar Wealth Management LLC acquired a new stake in shares of Boeing in the 3rd quarter worth $30,000. Kiely Wealth Advisory Group Inc. purchased a new position in shares of Boeing during the 2nd quarter worth $33,000. Strategic Financial Concepts LLC acquired a new position in shares of Boeing during the 2nd quarter valued at about $41,000. Finally, Planning Capital Management Corp grew its holdings in shares of Boeing by 741.0% in the third quarter. Planning Capital Management Corp now owns 328 shares of the aircraft producer’s stock valued at $50,000 after purchasing an additional 289 shares during the period. Institutional investors and hedge funds own 64.82% of the company’s stock.

Boeing Company Profile

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.