Boeing (NYSE:BA) Trading Up 1% – Still a Buy?

Shares of The Boeing Company (NYSE:BA) traded up 1% on Friday . The company traded as high as $179.33 and last traded at $178.80. 4,478,785 shares changed hands during trading, a decline of 52% from the average session volume of 9,290,008 shares. The stock had previously closed at $177.04.

Wall Street Analysts Forecast Growth

Several brokerages have commented on BA. 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. Morgan Stanley dropped their price objective 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. TD Cowen dropped their price target on shares of Boeing from $200.00 to $190.00 and set a “buy” rating for the company in a research report on Monday, October 14th. Northcoast Research raised shares of Boeing from a “sell” rating to a “neutral” rating in a report on Thursday, December 12th. Finally, Jefferies Financial Group dropped their price target on Boeing from $270.00 to $240.00 and set a “buy” rating for the company in a research report on Monday, September 23rd. 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 stock. According to data from MarketBeat, Boeing presently has a consensus rating of “Hold” and an average target price of $190.11.

Boeing Stock Performance

The business has a 50 day simple moving average of $154.58 and a 200-day simple moving average of $166.11. The firm has a market capitalization of $111.20 billion, a price-to-earnings ratio of -13.94 and a beta of 1.56.

Boeing (NYSE:BA) last issued its earnings results 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 business had revenue of $17.84 billion for the quarter, compared to the consensus estimate of $17.81 billion. During the same quarter in the previous year, the business earned ($3.26) earnings per share. Boeing’s revenue for the quarter was down 1.5% compared to the same quarter last year. Equities analysts predict that The Boeing Company will post -16.18 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Boeing

Several hedge funds have recently added to or reduced their stakes in BA. Lantz Financial LLC increased its position in shares of Boeing by 109.7% during the second quarter. Lantz Financial LLC now owns 2,695 shares of the aircraft producer’s stock worth $491,000 after purchasing an additional 1,410 shares in the last quarter. Hennion & Walsh Asset Management Inc. boosted its holdings in shares of Boeing by 51.0% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 2,428 shares of the aircraft producer’s stock valued at $442,000 after acquiring an additional 820 shares during the period. 1620 Investment Advisors Inc. purchased a new position in shares of Boeing during the second quarter worth approximately $39,000. Catalina Capital Group LLC raised its position in Boeing by 6.6% in the 2nd quarter. Catalina Capital Group LLC now owns 1,235 shares of the aircraft producer’s stock valued at $225,000 after purchasing an additional 76 shares during the last quarter. Finally, Everhart Financial Group Inc. boosted its stake in Boeing by 11.4% during the 2nd quarter. Everhart Financial Group Inc. now owns 2,477 shares of the aircraft producer’s stock worth $451,000 after purchasing an additional 253 shares during the period. 64.82% of the stock is currently owned by hedge funds and other 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.