Boeing (NYSE:BA) Trading 1.2% Higher – Time to Buy?

The Boeing Company (NYSE:BA) rose 1.2% during trading on Tuesday . The company traded as high as $175.02 and last traded at $172.90. Approximately 2,337,119 shares were traded during trading, a decline of 74% from the average daily volume of 9,006,966 shares. The stock had previously closed at $170.78.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. The Goldman Sachs Group decreased their target price on shares of Boeing from $232.00 to $202.00 and set a “buy” rating for the company in a research note on Tuesday, September 24th. Morgan Stanley lowered their target price on shares of Boeing from $195.00 to $170.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 24th. Susquehanna dropped their price target on shares of Boeing from $210.00 to $200.00 and set a “positive” rating on the stock in a research note on Thursday, October 24th. Robert W. Baird reduced their price objective on shares of Boeing from $240.00 to $200.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Finally, Barclays upgraded shares of Boeing from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $190.00 to $210.00 in a research report on Monday. Two analysts have rated the stock with a sell rating, eight have given a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Boeing currently has an average rating of “Moderate Buy” and an average target price of $192.21.

Boeing Stock Performance

The stock has a market cap of $106.36 billion, a price-to-earnings ratio of -13.34 and a beta of 1.52. The firm’s 50-day moving average price is $160.58 and its two-hundred day moving average price is $165.32.

Boeing (NYSE:BA) last released 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 company had revenue of $17.84 billion during the quarter, compared to analysts’ expectations of $17.81 billion. The business’s revenue was down 1.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($3.26) EPS. As a group, sell-side analysts expect 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 and hedge funds have recently made changes to their positions in the stock. RPg Family Wealth Advisory LLC purchased a new position in shares of Boeing in the third quarter valued at approximately $28,000. Cedar Wealth Management LLC acquired a new position in shares of Boeing in the third quarter worth $30,000. Kiely Wealth Advisory Group Inc. purchased a new stake in shares of Boeing during the second quarter worth $33,000. Strategic Financial Concepts LLC purchased a new position in Boeing in the second quarter valued at $41,000. Finally, Planning Capital Management Corp grew its stake in Boeing by 741.0% during the 3rd quarter. Planning Capital Management Corp now owns 328 shares of the aircraft producer’s stock worth $50,000 after purchasing an additional 289 shares in the last quarter. 64.82% of the stock is owned by hedge funds and other institutional investors.

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.