Boeing (NYSE:BA) Reaches New 12-Month Low – Time to Sell?

The Boeing Company (NYSE:BA)’s share price reached a new 52-week low on Wednesday . The company traded as low as $144.13 and last traded at $144.84, with a volume of 11974752 shares traded. The stock had previously closed at $151.00.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. JPMorgan Chase & Co. lowered their price objective on Boeing from $235.00 to $195.00 and set an “overweight” rating for the company in a research report on Monday, October 14th. Citigroup reduced their target price on Boeing from $224.00 to $209.00 and set a “buy” rating for the company in a research note on Tuesday, October 15th. Morgan Stanley reduced 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. Jefferies Financial Group reduced their target price on Boeing from $270.00 to $240.00 and set a “buy” rating for the company in a research note on Monday, September 23rd. Finally, Benchmark restated a “buy” rating and issued a $250.00 target price on shares of Boeing in a research note on Thursday, October 24th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $190.37.

Boeing Trading Down 2.5 %

The company has a market capitalization of $90.99 billion, a price-to-earnings ratio of -11.41 and a beta of 1.57. The company has a fifty day moving average of $156.17 and a 200-day moving average of $170.60.

Boeing (NYSE:BA) last issued its earnings results on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share for the quarter, missing the consensus estimate of ($10.34) by ($0.10). The firm had revenue of $17.84 billion during the quarter, compared to analyst estimates of $17.81 billion. Boeing’s revenue was down 1.5% on a year-over-year basis. During the same quarter in the prior year, the company posted ($3.26) EPS. As a group, equities research analysts expect that The Boeing Company will post -16.13 EPS for the current year.

Institutional Trading of Boeing

Several institutional investors have recently made changes to their positions in BA. Catalina Capital Group LLC purchased a new stake in shares of Boeing during the 1st quarter valued at approximately $224,000. Texas Permanent School Fund Corp raised its position in shares of Boeing by 1.2% during the 1st quarter. Texas Permanent School Fund Corp now owns 118,553 shares of the aircraft producer’s stock valued at $22,880,000 after buying an additional 1,399 shares during the period. Mittelman Wealth Management purchased a new stake in shares of Boeing during the 1st quarter valued at approximately $200,000. Ballast Inc. raised its position in Boeing by 7.9% in the first quarter. Ballast Inc. now owns 5,574 shares of the aircraft producer’s stock valued at $1,076,000 after purchasing an additional 408 shares during the period. Finally, Concord Investment Counsel Inc. purchased a new stake in Boeing in the first quarter valued at approximately $135,000. Hedge funds and other 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.