Boeing (NYSE:BA) Trading Up 1.3% – Should You Buy?

The Boeing Company (NYSE:BA)’s share price rose 1.3% during trading on Monday . The company traded as high as $171.77 and last traded at $171.14. Approximately 9,537,359 shares changed hands during mid-day trading, an increase of 1% from the average daily volume of 9,471,018 shares. The stock had previously closed at $168.93.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on BA. Wells Fargo & Company lowered their target price on Boeing from $86.00 to $85.00 and set an “underweight” rating for the company in a research note on Monday, November 4th. Susquehanna lowered their price target on shares of Boeing from $210.00 to $200.00 and set a “positive” rating for the company in a report on Thursday, October 24th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $200.00 price objective on shares of Boeing in a report on Wednesday, October 30th. UBS Group cut their price target on Boeing from $215.00 to $195.00 and set a “buy” rating on the stock in a research note on Thursday, October 24th. Finally, DZ Bank lowered Boeing from a “buy” rating to a “hold” rating and set a $152.00 price objective for the company. in a research report on Tuesday, October 15th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Boeing presently has an average rating of “Moderate Buy” and an average target price of $192.21.

Boeing Stock Up 2.7 %

The firm has a market cap of $108.58 billion, a price-to-earnings ratio of -13.61 and a beta of 1.52. The company’s fifty day moving average is $163.59 and its 200 day moving average is $164.52.

Boeing (NYSE:BA) last posted its quarterly earnings data on Wednesday, October 23rd. The aircraft producer reported ($10.44) 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 the consensus estimate of $17.81 billion. Boeing’s revenue was down 1.5% on a year-over-year basis. During the same period last year, the company posted ($3.26) EPS. On average, equities research analysts forecast that The Boeing Company will post -16.43 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of BA. IMS Capital Management grew its holdings in shares of Boeing by 0.4% in the second quarter. IMS Capital Management now owns 16,032 shares of the aircraft producer’s stock worth $2,759,000 after purchasing an additional 62 shares during the last quarter. Sterneck Capital Management LLC grew its holdings in Boeing by 2.3% in the 4th quarter. Sterneck Capital Management LLC now owns 2,992 shares of the aircraft producer’s stock worth $530,000 after acquiring an additional 66 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. GSG Advisors LLC raised its stake in shares of Boeing by 4.7% during the fourth quarter. GSG Advisors LLC now owns 1,490 shares of the aircraft producer’s stock valued at $264,000 after acquiring an additional 67 shares during the last quarter. Finally, Altus Wealth Group LLC boosted its holdings in shares of Boeing by 5.7% during the third quarter. Altus Wealth Group LLC now owns 1,325 shares of the aircraft producer’s stock worth $201,000 after purchasing an additional 71 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.