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

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

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Susquehanna lowered their price objective on Boeing from $210.00 to $200.00 and set a “positive” rating for the company in a research report on Thursday, October 24th. TD Cowen reduced 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. Jefferies Financial Group lowered their target price on shares of Boeing from $270.00 to $240.00 and set a “buy” rating for the company in a research note on Monday, September 23rd. Wells Fargo & Company reduced their price target on shares of Boeing from $86.00 to $85.00 and set an “underweight” rating on the stock in a research note on Monday, November 4th. Finally, Citigroup lowered their price objective on shares of Boeing from $224.00 to $209.00 and set a “buy” rating for the company in a research report on Tuesday, October 15th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Boeing currently has an average rating of “Hold” and a consensus price target of $190.11.

Boeing Price Performance

The business’s 50 day moving average is $155.10 and its 200-day moving average is $166.06. The company has a market cap of $109.64 billion, a PE ratio of -13.75 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 company had revenue of $17.84 billion for the quarter, compared to analysts’ expectations of $17.81 billion. The company’s quarterly revenue was down 1.5% on a year-over-year basis. During the same period in the prior year, the firm posted ($3.26) EPS. As a group, sell-side analysts predict that The Boeing Company will post -16.18 EPS for the current fiscal year.

Hedge Funds Weigh In On Boeing

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BA. RPg Family Wealth Advisory LLC purchased a new stake in shares of Boeing during the 3rd quarter worth approximately $28,000. Cedar Wealth Management LLC purchased a new stake in Boeing in the third quarter valued at $30,000. Kiely Wealth Advisory Group Inc. acquired a new position in Boeing in the second quarter valued at $33,000. Strategic Financial Concepts LLC purchased a new position in shares of Boeing during the second quarter worth about $41,000. Finally, Planning Capital Management Corp lifted its holdings in shares of Boeing by 741.0% in the 3rd 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 last quarter. 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.