Boeing (NYSE:BA) Stock Price Up 0.5% – Should You Buy?

The Boeing Company (NYSE:BA)’s stock price traded up 0.5% during mid-day trading on Monday . The stock traded as high as $170.93 and last traded at $170.52. 3,334,117 shares changed hands during trading, a decline of 64% from the average session volume of 9,204,080 shares. The stock had previously closed at $169.65.

Analyst Upgrades and Downgrades

BA has been the topic of a number of research analyst reports. The Goldman Sachs Group decreased their target price on Boeing from $232.00 to $202.00 and set a “buy” rating on the stock in a research report on Tuesday, September 24th. Morgan Stanley dropped their target price on Boeing from $195.00 to $170.00 and set an “equal weight” rating for the company in a report on Thursday, October 24th. TD Cowen dropped their price objective on Boeing from $200.00 to $190.00 and set a “buy” rating for the company in a report on Monday, October 14th. Royal Bank of Canada reissued an “outperform” rating and set a $200.00 price objective on shares of Boeing in a report on Wednesday, October 30th. Finally, Sanford C. Bernstein downgraded shares of Boeing from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from $195.00 to $169.00 in a research report on Wednesday, October 30th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $190.11.

Boeing Stock Up 2.1 %

The company has a fifty day moving average price of $152.79 and a two-hundred day moving average price of $166.02. The firm has a market capitalization of $107.05 billion, a price-to-earnings ratio of -13.42 and a beta of 1.56.

Boeing (NYSE:BA) last announced 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 for the quarter, compared to analyst estimates of $17.81 billion. The business’s revenue for the quarter was down 1.5% on a year-over-year basis. During the same period last year, the business earned ($3.26) EPS. On average, equities analysts anticipate that The Boeing Company will post -16.18 earnings per share for the current fiscal year.

Institutional Trading of Boeing

Several hedge funds have recently made changes to their positions in BA. Van ECK Associates Corp grew its position in Boeing by 122.0% during the third quarter. Van ECK Associates Corp now owns 2,277,548 shares of the aircraft producer’s stock worth $357,712,000 after buying an additional 1,251,456 shares during the period. International Assets Investment Management LLC boosted its stake in shares of Boeing by 289.8% during the 3rd quarter. International Assets Investment Management LLC now owns 1,682,970 shares of the aircraft producer’s stock worth $2,558,790,000 after acquiring an additional 1,251,165 shares in the last quarter. Franklin Resources Inc. grew its holdings in shares of Boeing by 1,296.3% in the 3rd quarter. Franklin Resources Inc. now owns 1,136,895 shares of the aircraft producer’s stock worth $169,386,000 after acquiring an additional 1,055,472 shares during the period. Wulff Hansen & CO. raised its holdings in Boeing by 15,039.0% during the second quarter. Wulff Hansen & CO. now owns 967,383 shares of the aircraft producer’s stock worth $176,073,000 after purchasing an additional 960,993 shares during the last quarter. Finally, State Street Corp boosted its position in Boeing by 2.3% during the third quarter. State Street Corp now owns 27,778,195 shares of the aircraft producer’s stock worth $4,223,397,000 after purchasing an additional 636,594 shares in the last quarter. Institutional investors and hedge funds 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.