Boeing (NYSE:BA) Shares Up 0% – Should You Buy?

The Boeing Company (NYSE:BA) shares shot up 0% on Wednesday . The company traded as high as $169.99 and last traded at $167.09. 1,973,935 shares were traded during trading, a decline of 74% from the average session volume of 7,728,913 shares. The stock had previously closed at $167.02.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. 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. Morgan Stanley lowered their target price on Boeing from $195.00 to $170.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 24th. Sanford C. Bernstein lowered shares of Boeing from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $195.00 to $169.00 in a research report on Wednesday, October 30th. UBS Group lowered their target price on Boeing from $215.00 to $195.00 and set a “buy” rating on the stock in a research note on Thursday, October 24th. Finally, DZ Bank cut Boeing from a “buy” rating to a “hold” rating and set a $152.00 price objective on the stock. in a research note on Tuesday, October 15th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $192.21.

Boeing Stock Performance

The company has a market cap of $105.80 billion, a PE ratio of -13.27 and a beta of 1.52. The stock’s 50 day moving average price is $162.76 and its 200-day moving average price is $165.00.

Boeing (NYSE:BA) last announced its quarterly earnings data on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($10.34) by ($0.10). The firm had revenue of $17.84 billion during the quarter, compared to analysts’ expectations of $17.81 billion. During the same quarter in the prior year, the business earned ($3.26) earnings per share. The company’s revenue was down 1.5% on a year-over-year basis. On average, analysts anticipate that The Boeing Company will post -16.43 EPS for the current year.

Hedge Funds Weigh In On Boeing

A number of large investors have recently bought and sold shares of BA. AdvisorNet Financial Inc grew its holdings in shares of Boeing by 54.2% in the fourth quarter. AdvisorNet Financial Inc now owns 2,021 shares of the aircraft producer’s stock worth $358,000 after purchasing an additional 710 shares during the last quarter. Rockefeller Capital Management L.P. boosted its position in Boeing by 8.8% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 473,917 shares of the aircraft producer’s stock valued at $72,075,000 after buying an additional 38,300 shares during the period. Principal Financial Group Inc. grew its holdings in Boeing by 6.1% in the 3rd quarter. Principal Financial Group Inc. now owns 666,244 shares of the aircraft producer’s stock worth $101,296,000 after acquiring an additional 38,332 shares during the last quarter. Jennison Associates LLC increased its position in shares of Boeing by 9.9% in the third quarter. Jennison Associates LLC now owns 6,700,706 shares of the aircraft producer’s stock valued at $1,018,775,000 after acquiring an additional 602,143 shares during the period. Finally, World Investment Advisors LLC raised its stake in shares of Boeing by 243.4% during the third quarter. World Investment Advisors LLC now owns 5,381 shares of the aircraft producer’s stock valued at $818,000 after acquiring an additional 3,814 shares during the last quarter. 64.82% of the stock is 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.