Boeing (NYSE:BA) Stock Price Down 0.7% – Time to Sell?

The Boeing Company (NYSE:BA) was down 0.7% during trading on Thursday . The stock traded as low as $148.08 and last traded at $148.37. Approximately 2,407,647 shares changed hands during mid-day trading, a decline of 70% from the average daily volume of 7,994,543 shares. The stock had previously closed at $149.37.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. The Goldman Sachs Group cut their price target on shares of Boeing from $232.00 to $202.00 and set a “buy” rating on the stock in a report on Tuesday, September 24th. Stifel Nicolaus boosted their target price on Boeing from $230.00 to $235.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Susquehanna reiterated a “positive” rating and issued a $230.00 price target on shares of Boeing in a report on Wednesday, August 14th. TD Cowen decreased their price objective on shares of Boeing from $230.00 to $200.00 and set a “buy” rating for the company in a report on Tuesday, October 1st. Finally, Jefferies Financial Group cut their target price on shares of Boeing from $270.00 to $240.00 and set a “buy” rating on the stock in a research note on Monday, September 23rd. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $206.00.

Boeing Trading Up 3.0 %

The firm has a market capitalization of $93.07 billion, a P/E ratio of -26.83 and a beta of 1.57. The business’s 50 day simple moving average is $162.41 and its two-hundred day simple moving average is $173.94.

Boeing (NYSE:BA) last announced its quarterly 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 company had revenue of $16.87 billion for the quarter, compared to the consensus estimate of $17.35 billion. During the same period in the prior year, the business earned ($0.82) earnings per share. The firm’s quarterly revenue was down 14.6% compared to the same quarter last year. Analysts predict that The Boeing Company will post -5.35 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BA. Wellington Management Group LLP raised its stake in Boeing by 563.9% during the 4th quarter. Wellington Management Group LLP now owns 3,439,093 shares of the aircraft producer’s stock valued at $896,434,000 after buying an additional 2,921,043 shares during the last quarter. Global Assets Advisory LLC bought a new position in Boeing in the first quarter valued at about $272,312,000. Vanguard Group Inc. boosted its position in Boeing by 2.5% in the first quarter. Vanguard Group Inc. now owns 49,724,770 shares of the aircraft producer’s stock worth $9,596,383,000 after purchasing an additional 1,222,816 shares during the last quarter. Van ECK Associates Corp grew its stake in shares of Boeing by 9,626.0% during the 2nd quarter. Van ECK Associates Corp now owns 1,026,092 shares of the aircraft producer’s stock valued at $186,759,000 after purchasing an additional 1,015,542 shares during the period. Finally, Wulff Hansen & CO. increased its position in shares of Boeing by 15,039.0% during the 2nd quarter. Wulff Hansen & CO. now owns 967,383 shares of the aircraft producer’s stock valued at $176,073,000 after purchasing an additional 960,993 shares during the last quarter. Institutional investors own 64.82% of the company’s stock.

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.