Boeing (NYSE:BA) Trading 1.8% Higher – Still a Buy?

Shares of The Boeing Company (NYSE:BA) rose 1.8% during trading on Friday . The stock traded as high as $149.57 and last traded at $149.33. Approximately 2,503,178 shares were traded during trading, a decline of 69% from the average daily volume of 8,011,684 shares. The stock had previously closed at $146.62.

Analyst Ratings Changes

BA has been the topic of a number of analyst reports. Susquehanna reaffirmed a “positive” rating and issued a $230.00 price objective on shares of Boeing in a research report on Wednesday, August 14th. TD Cowen reduced their price target on Boeing from $230.00 to $200.00 and set a “buy” rating on the stock in a research report on Tuesday, October 1st. 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. Wells Fargo & Company decreased their price target on Boeing from $119.00 to $110.00 and set an “underweight” rating for the company in a research note on Tuesday, October 1st. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on Boeing from $225.00 to $195.00 and set a “buy” rating on the stock in a research note on Thursday, October 3rd. Three analysts have rated the stock with a sell rating, seven have given a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $206.00.

Boeing Price Performance

The firm has a fifty day moving average of $162.79 and a 200 day moving average of $174.22. The stock has a market capitalization of $92.35 billion, a price-to-earnings ratio of -26.52 and a beta of 1.57.

Boeing (NYSE:BA) last posted 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 firm had revenue of $16.87 billion for the quarter, compared to analysts’ expectations of $17.35 billion. Boeing’s quarterly revenue was down 14.6% on a year-over-year basis. During the same period last year, the business posted ($0.82) earnings per share. Research analysts predict that The Boeing Company will post -5.35 EPS for the current year.

Hedge Funds Weigh In On Boeing

A number of large investors have recently bought and sold shares of the business. Kiely Wealth Advisory Group Inc. acquired a new position in shares of Boeing during the 2nd quarter worth approximately $33,000. Vima LLC acquired a new position in Boeing during the fourth quarter worth $34,000. Hobbs Group Advisors LLC acquired a new position in Boeing during the second quarter worth $34,000. McClarren Financial Advisors Inc. lifted its holdings in Boeing by 451.4% during the first quarter. McClarren Financial Advisors Inc. now owns 193 shares of the aircraft producer’s stock valued at $37,000 after purchasing an additional 158 shares in the last quarter. Finally, Accent Capital Management LLC acquired a new stake in shares of Boeing in the fourth quarter valued at about $39,000. 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.