Boeing (NYSE:BA) Trading Up 1.8% – Time to Buy?

The Boeing Company (NYSE:BA)’s stock price was up 1.8% on Thursday . The stock traded as high as $177.35 and last traded at $175.72. Approximately 3,464,722 shares traded hands during trading, a decline of 63% from the average daily volume of 9,262,925 shares. The stock had previously closed at $172.62.

Wall Street Analysts Forecast Growth

BA has been the subject of a number of research reports. Morgan Stanley lowered their target price 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. UBS Group reduced their target price on shares of Boeing from $215.00 to $195.00 and set a “buy” rating for the company in a research note on Thursday, October 24th. Citigroup dropped their price target on Boeing from $224.00 to $209.00 and set a “buy” rating on the stock in a research note on Tuesday, October 15th. DZ Bank cut Boeing from a “buy” rating to a “hold” rating and set a $152.00 price objective for the company. in a research report on Tuesday, October 15th. Finally, Robert W. Baird dropped their target price on Boeing from $240.00 to $200.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $190.11.

Boeing Stock Up 3.1 %

The business’s 50 day simple moving average is $153.97 and its 200-day simple moving average is $166.04. The stock has a market capitalization of $109.98 billion, a price-to-earnings ratio of -13.79 and a beta of 1.56.

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 company had revenue of $17.84 billion for the quarter, compared to analyst estimates of $17.81 billion. During the same quarter last year, the business earned ($3.26) earnings per share. Boeing’s revenue was down 1.5% compared to the same quarter last year. On average, analysts expect that The Boeing Company will post -16.18 earnings per share for the current year.

Institutional Investors Weigh In On Boeing

Hedge funds have recently modified their holdings of the company. RPg Family Wealth Advisory LLC acquired a new stake in Boeing in the third quarter valued at approximately $28,000. Cedar Wealth Management LLC purchased a new position in Boeing during the third quarter worth about $30,000. Kiely Wealth Advisory Group Inc. purchased a new position in shares of Boeing in the 2nd quarter worth approximately $33,000. 1620 Investment Advisors Inc. bought a new stake in shares of Boeing in the second quarter valued at $39,000. Finally, Strategic Financial Concepts LLC purchased a new stake in Boeing during the 2nd quarter worth about $41,000. Institutional investors and hedge funds own 64.82% of the company’s stock.

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.