Boeing (NYSE:BA) Shares Up 1.8% – Still a Buy?

Shares of The Boeing Company (NYSE:BA) rose 1.8% on Wednesday . The company traded as high as $176.72 and last traded at $176.16. Approximately 3,229,333 shares changed hands during mid-day trading, a decline of 65% from the average daily volume of 9,238,809 shares. The stock had previously closed at $173.03.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Morgan Stanley reduced their price target on Boeing from $195.00 to $170.00 and set an “equal weight” rating on the stock in a report on Thursday, October 24th. UBS Group dropped their price target on shares of Boeing from $215.00 to $195.00 and set a “buy” rating on the stock in a research report on Thursday, October 24th. JPMorgan Chase & Co. decreased their price objective on shares of Boeing from $195.00 to $190.00 and set an “overweight” rating for the company in a research report on Monday, November 25th. Robert W. Baird dropped their target price on shares of Boeing from $240.00 to $200.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. Finally, Citigroup decreased their price target on Boeing from $224.00 to $209.00 and set a “buy” rating for the company in a report on Tuesday, October 15th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $190.11.

Boeing Price Performance

The stock’s 50-day moving average price is $153.51 and its 200 day moving average price is $165.99. The firm has a market capitalization of $107.50 billion, a PE ratio of -13.48 and a beta of 1.56.

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

Institutional Investors Weigh In On Boeing

A number of institutional investors have recently modified their holdings of the company. RPg Family Wealth Advisory LLC purchased a new position in Boeing in the third quarter valued at about $28,000. Cedar Wealth Management LLC acquired a new position in shares of Boeing in the third quarter worth about $30,000. Kiely Wealth Advisory Group Inc. bought a new position in Boeing during the 2nd quarter worth approximately $33,000. 1620 Investment Advisors Inc. acquired a new position in Boeing in the second quarter valued at approximately $39,000. Finally, Strategic Financial Concepts LLC acquired a new position in Boeing during the 2nd quarter valued at about $41,000. 64.82% of the stock is owned by institutional investors and hedge funds.

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.