Boeing (NYSE:BA) Stock Price Up 1% – Should You Buy?

The Boeing Company (NYSE:BA)’s stock price shot up 1% during trading on Wednesday . The company traded as high as $155.60 and last traded at $154.51. 7,814,065 shares were traded during trading, a decline of 8% from the average session volume of 8,465,955 shares. The stock had previously closed at $152.98.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. Morgan Stanley dropped their target price on shares of Boeing from $195.00 to $170.00 and set an “equal weight” rating on the stock in a report on Thursday, October 24th. Robert W. Baird dropped their target price on shares of Boeing from $240.00 to $200.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. Citigroup dropped their target price on shares of Boeing from $224.00 to $209.00 and set a “buy” rating on the stock in a report on Tuesday, October 15th. Stifel Nicolaus boosted their target price on shares of Boeing from $230.00 to $235.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Finally, Wells Fargo & Company dropped their target price on shares of Boeing from $109.00 to $86.00 and set an “underweight” rating on the stock in a report on Thursday, October 24th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $190.42.

Boeing Stock Performance

The firm has a market capitalization of $95.29 billion, a PE ratio of -11.93 and a beta of 1.57. The company’s 50 day simple moving average is $157.86 and its 200-day simple moving average is $171.09.

Boeing (NYSE:BA) last posted its earnings results on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share (EPS) for the quarter, missing the consensus estimate of ($10.34) by ($0.10). The business had revenue of $17.84 billion for the quarter, compared to analyst estimates of $17.81 billion. During the same quarter in the previous year, the company earned ($3.26) EPS. Boeing’s quarterly revenue was down 1.5% on a year-over-year basis. On average, equities research analysts forecast that The Boeing Company will post -16.22 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Boeing

A number of institutional investors have recently made changes to their positions in BA. Madison Park Capital Advisors LLC grew its holdings in shares of Boeing by 4.9% during the 2nd quarter. Madison Park Capital Advisors LLC now owns 1,204 shares of the aircraft producer’s stock valued at $219,000 after purchasing an additional 56 shares during the last quarter. Wealth Alliance Advisory Group LLC lifted its position in shares of Boeing by 1.6% in the 2nd quarter. Wealth Alliance Advisory Group LLC now owns 3,798 shares of the aircraft producer’s stock worth $691,000 after purchasing an additional 60 shares during the period. Angeles Wealth Management LLC lifted its position in shares of Boeing by 4.2% in the 1st quarter. Angeles Wealth Management LLC now owns 1,524 shares of the aircraft producer’s stock worth $294,000 after purchasing an additional 61 shares during the period. IMS Capital Management lifted its position in Boeing by 0.4% during the 2nd quarter. IMS Capital Management now owns 16,032 shares of the aircraft producer’s stock valued at $2,759,000 after acquiring an additional 62 shares during the period. Finally, Meeder Advisory Services Inc. lifted its position in Boeing by 0.9% during the 1st quarter. Meeder Advisory Services Inc. now owns 7,559 shares of the aircraft producer’s stock valued at $1,459,000 after acquiring an additional 65 shares during the period. Institutional investors 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.