Boeing (NYSE:BA) Shares Up 5.6% – Should You Buy?

Shares of The Boeing Company (NYSE:BA) were up 5.6% on Wednesday . The company traded as high as $171.00 and last traded at $170.66. Approximately 2,587,980 shares changed hands during trading, a decline of 66% from the average daily volume of 7,635,709 shares. The stock had previously closed at $161.57.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on BA shares. JPMorgan Chase & Co. raised their target price on Boeing from $190.00 to $200.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. Susquehanna raised their price objective on shares of Boeing from $200.00 to $205.00 and gave the company a “positive” rating in a research note on Wednesday, January 29th. Wells Fargo & Company upped their target price on shares of Boeing from $103.00 to $113.00 and gave the stock an “underweight” rating in a research report on Monday. UBS Group lifted their price target on shares of Boeing from $208.00 to $217.00 and gave the company a “buy” rating in a research report on Wednesday, January 29th. Finally, Northcoast Research upgraded Boeing from a “sell” rating to a “neutral” rating in a report on Thursday, December 12th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $195.68.

Boeing Price Performance

The stock’s 50-day moving average is $172.86 and its 200-day moving average is $163.54. The stock has a market cap of $129.63 billion, a price-to-earnings ratio of -9.43 and a beta of 1.53.

Boeing (NYSE:BA) last posted its quarterly earnings data on Tuesday, January 28th. The aircraft producer reported ($5.90) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.60) by ($4.30). During the same period last year, the business posted ($0.47) earnings per share. Analysts predict that The Boeing Company will post -2.58 EPS for the current fiscal year.

Insider Activity

In related news, EVP Uma M. Amuluru sold 3,159 shares of Boeing stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $180.69, for a total value of $570,799.71. Following the transaction, the executive vice president now owns 19,213 shares in the company, valued at approximately $3,471,596.97. This trade represents a 14.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.16% of the company’s stock.

Hedge Funds Weigh In On Boeing

A number of large investors have recently modified their holdings of the company. Chancellor Financial Group WB LP acquired a new stake in Boeing during the 4th quarter worth approximately $313,000. Objective Capital Management LLC acquired a new stake in shares of Boeing in the fourth quarter worth $219,000. 111 Capital purchased a new position in shares of Boeing in the 4th quarter valued at $681,000. Thoma Capital Management LLC acquired a new position in shares of Boeing during the 4th quarter valued at $508,000. Finally, Members Wealth LLC acquired a new position in shares of Boeing during the 4th quarter valued at $212,000. 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.