Boeing (NYSE:BA) Shares Gap Up – Still a Buy?

The Boeing Company (NYSE:BA)’s stock price gapped up prior to trading on Monday . The stock had previously closed at $155.00, but opened at $160.25. Boeing shares last traded at $162.02, with a volume of 3,378,964 shares changing hands.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on BA shares. Sanford C. Bernstein reduced their price objective on shares of Boeing from $207.00 to $195.00 and set an “outperform” rating on the stock in a report on Thursday. The Goldman Sachs Group lowered their price objective on Boeing from $232.00 to $202.00 and set a “buy” rating for the company in a research report on Tuesday, September 24th. Deutsche Bank Aktiengesellschaft cut their target price on Boeing from $225.00 to $195.00 and set a “buy” rating on the stock in a research report on Thursday, October 3rd. Susquehanna lowered their price target on Boeing from $230.00 to $210.00 and set a “positive” rating for the company in a report on Thursday. Finally, Wells Fargo & Company cut their price objective on shares of Boeing from $110.00 to $109.00 and set an “underweight” rating on the stock in a report on Monday, October 14th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $198.79.

Boeing Stock Up 3.0 %

The stock has a market cap of $98.05 billion, a PE ratio of -45.58 and a beta of 1.57. The stock has a fifty day moving average of $161.10 and a 200-day moving average of $172.44.

Boeing (NYSE:BA) last announced its earnings results on Wednesday, July 31st. The aircraft producer reported ($2.90) earnings per share for the quarter, missing the consensus estimate of ($1.00) by ($1.90). The business had revenue of $16.87 billion during the quarter, compared to the consensus estimate of $17.35 billion. During the same quarter in the prior year, the business earned ($0.82) EPS. The company’s revenue was down 14.6% on a year-over-year basis. Equities research analysts forecast that The Boeing Company will post -5.35 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Boeing

Several institutional investors have recently bought and sold shares of the company. Kiely Wealth Advisory Group Inc. acquired a new position in shares of Boeing during the second quarter worth about $33,000. Hobbs Group Advisors LLC purchased a new position in shares of Boeing during the 2nd quarter worth approximately $34,000. McClarren Financial Advisors Inc. boosted its stake in shares of Boeing by 451.4% in the first quarter. McClarren Financial Advisors Inc. now owns 193 shares of the aircraft producer’s stock valued at $37,000 after buying an additional 158 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. grew its holdings in Boeing by 351.1% during the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 212 shares of the aircraft producer’s stock worth $39,000 after acquiring an additional 165 shares during the period. Finally, 1620 Investment Advisors Inc. purchased a new position in Boeing in the second quarter worth $39,000. 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.