Boeing (NYSE:BA) Trading 4.3% Higher – Should You Buy?

The Boeing Company (NYSE:BA) rose 4.3% during mid-day trading on Monday . The stock traded as high as $160.58 and last traded at $160.50. Approximately 3,849,560 shares were traded during trading, a decline of 58% from the average daily volume of 9,126,140 shares. The stock had previously closed at $153.93.

Analyst Ratings Changes

Several analysts have commented on the stock. Susquehanna lowered their price objective on shares of Boeing from $210.00 to $200.00 and set a “positive” rating for the company in a report on Thursday, October 24th. JPMorgan Chase & Co. dropped their price target on Boeing from $195.00 to $190.00 and set an “overweight” rating on the stock in a research report on Monday, November 25th. Morgan Stanley lowered their price objective on Boeing from $195.00 to $170.00 and set an “equal weight” rating for the company in a research report on Thursday, October 24th. Benchmark reaffirmed a “buy” rating and issued a $250.00 target price on shares of Boeing in a research report on Thursday, October 24th. Finally, Sanford C. Bernstein cut shares of Boeing from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $195.00 to $169.00 in a research report on Wednesday, October 30th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $190.11.

Boeing Trading Up 2.8 %

The firm has a market capitalization of $97.84 billion, a PE ratio of -12.44 and a beta of 1.56. The business’s 50 day simple moving average is $151.58 and its two-hundred day simple moving average is $166.32.

Boeing (NYSE:BA) last released its quarterly 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 business had revenue of $17.84 billion for the quarter, compared to analyst estimates of $17.81 billion. The company’s revenue for the quarter was down 1.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($3.26) EPS. As a group, equities research analysts anticipate that The Boeing Company will post -16.18 earnings per share for the current year.

Hedge Funds Weigh In On Boeing

Several large investors have recently added to or reduced their stakes in BA. Lantz Financial LLC raised its holdings in Boeing by 109.7% during the second quarter. Lantz Financial LLC now owns 2,695 shares of the aircraft producer’s stock valued at $491,000 after acquiring an additional 1,410 shares during the period. RFG Advisory LLC boosted its position in shares of Boeing by 10.6% during the second quarter. RFG Advisory LLC now owns 3,288 shares of the aircraft producer’s stock worth $598,000 after acquiring an additional 316 shares during the last quarter. Occidental Asset Management LLC purchased a new position in Boeing during the second quarter valued at $220,000. Alpha Cubed Investments LLC increased its holdings in Boeing by 28.1% in the 2nd quarter. Alpha Cubed Investments LLC now owns 4,613 shares of the aircraft producer’s stock valued at $840,000 after acquiring an additional 1,011 shares during the last quarter. Finally, Sequoia Financial Advisors LLC lifted its stake in Boeing by 0.9% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 21,038 shares of the aircraft producer’s stock worth $3,829,000 after purchasing an additional 180 shares in the last quarter. Hedge funds and other 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.