Boeing (NYSE:BA) Trading Up 0.9% – Should You Buy?

The Boeing Company (NYSE:BA) shares rose 0.9% during trading on Monday . The company traded as high as $173.94 and last traded at $171.36. Approximately 3,572,935 shares were traded during trading, a decline of 59% from the average daily volume of 8,664,484 shares. The stock had previously closed at $169.90.

Analysts Set New Price Targets

Several brokerages have recently issued reports on BA. Morgan Stanley reduced their price objective on Boeing from $195.00 to $170.00 and set an “equal weight” rating for the company in a research note on Thursday, October 24th. Sanford C. Bernstein cut shares of Boeing from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $195.00 to $169.00 in a research note on Wednesday, October 30th. Barclays raised shares of Boeing from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $190.00 to $210.00 in a report on Monday. TD Cowen decreased their target price 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. Finally, Deutsche Bank Aktiengesellschaft increased their price target on Boeing from $184.00 to $215.00 and gave the stock a “buy” rating in a research report on Thursday, January 2nd. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Boeing has a consensus rating of “Moderate Buy” and a consensus price target of $192.21.

Boeing Trading Down 0.3 %

The company has a fifty day simple moving average of $160.22 and a 200-day simple moving average of $165.27. The company has a market capitalization of $106.36 billion, a PE ratio of -13.34 and a beta of 1.52.

Boeing (NYSE:BA) last released its quarterly earnings data on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share (EPS) for the quarter, missing the consensus estimate 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 revenue was down 1.5% compared to the same quarter last year. During the same period in the prior year, the firm posted ($3.26) EPS. On average, equities analysts predict that The Boeing Company will post -16.18 EPS for the current fiscal year.

Institutional Trading of Boeing

Hedge funds and other institutional investors have recently modified their holdings of the business. IMS Capital Management raised its holdings in Boeing by 0.4% in the 2nd quarter. IMS Capital Management now owns 16,032 shares of the aircraft producer’s stock valued at $2,759,000 after acquiring an additional 62 shares during the period. Sterneck Capital Management LLC lifted its holdings in Boeing by 2.3% during the 4th quarter. Sterneck Capital Management LLC now owns 2,992 shares of the aircraft producer’s stock worth $530,000 after purchasing an additional 66 shares during the last quarter. Peoples Financial Services CORP. boosted its stake in Boeing by 0.8% in the 3rd quarter. Peoples Financial Services CORP. now owns 8,893 shares of the aircraft producer’s stock valued at $1,352,000 after purchasing an additional 67 shares during the period. Altus Wealth Group LLC increased its position in Boeing by 5.7% during the 3rd quarter. Altus Wealth Group LLC now owns 1,325 shares of the aircraft producer’s stock worth $201,000 after buying an additional 71 shares during the period. Finally, Hancock Whitney Corp boosted its position in shares of Boeing by 1.0% in the second quarter. Hancock Whitney Corp now owns 7,582 shares of the aircraft producer’s stock valued at $1,380,000 after acquiring an additional 72 shares during the period. 64.82% of the stock is owned by institutional investors and hedge funds.

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.