Boeing (NYSE:BA) Shares Up 1.8% – Should You Buy?

The Boeing Company (NYSE:BA) shot up 1.8% during trading on Wednesday . The company traded as high as $176.72 and last traded at $176.16. 3,229,333 shares were traded during mid-day trading, a decline of 65% from the average session volume of 9,238,809 shares. The stock had previously closed at $173.03.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. TD Cowen cut their price objective on shares of Boeing from $200.00 to $190.00 and set a “buy” rating on the stock in a research report on Monday, October 14th. UBS Group cut their target price on Boeing from $215.00 to $195.00 and set a “buy” rating on the stock in a report on Thursday, October 24th. Northcoast Research upgraded Boeing from a “sell” rating to a “neutral” rating in a research note on Thursday, December 12th. Jefferies Financial Group cut their price objective on Boeing from $270.00 to $240.00 and set a “buy” rating on the stock in a research note on Monday, September 23rd. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $200.00 target price on shares of Boeing in a research report on Wednesday, October 30th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Boeing currently has a consensus rating of “Hold” and an average target price of $190.11.

Boeing Trading Up 0.1 %

The stock has a market capitalization of $109.59 billion, a P/E ratio of -13.74 and a beta of 1.56. The firm’s fifty day moving average is $154.58 and its 200-day moving average is $166.11.

Boeing (NYSE:BA) last announced its earnings results on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share 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 the consensus estimate of $17.81 billion. During the same period in the previous year, the business posted ($3.26) EPS. The business’s quarterly revenue was down 1.5% compared to the same quarter last year. Equities research analysts expect that The Boeing Company will post -16.18 EPS for the current year.

Institutional Trading of Boeing

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. RPg Family Wealth Advisory LLC bought a new stake in Boeing in the third quarter valued at about $28,000. Cedar Wealth Management LLC bought a new stake in shares of Boeing in the 3rd quarter valued at about $30,000. Kiely Wealth Advisory Group Inc. acquired a new stake in shares of Boeing in the 2nd quarter valued at approximately $33,000. 1620 Investment Advisors Inc. bought a new position in Boeing during the 2nd quarter worth approximately $39,000. Finally, Strategic Financial Concepts LLC acquired a new position in Boeing during the second quarter valued at approximately $41,000. 64.82% of the stock is owned by 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.