Boeing (NYSE:BA) Trading 0.9% Higher – Still a Buy?

The Boeing Company (NYSE:BA)’s share price shot up 0.9% on Wednesday . The stock traded as high as $169.30 and last traded at $165.64. 4,915,007 shares changed hands during trading, a decline of 46% from the average session volume of 9,184,950 shares. The stock had previously closed at $164.10.

Analysts Set New Price Targets

Several brokerages have weighed in on BA. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Boeing from $225.00 to $195.00 and set a “buy” rating on the stock in a report on Thursday, October 3rd. TD Cowen lowered their price target on shares of Boeing from $200.00 to $190.00 and set a “buy” rating for the company in a report on Monday, October 14th. The Goldman Sachs Group cut their price objective on shares of Boeing from $232.00 to $202.00 and set a “buy” rating on the stock in a report on Tuesday, September 24th. Wells Fargo & Company cut their price objective on shares of Boeing from $86.00 to $85.00 and set an “underweight” rating on the stock in a report on Monday, November 4th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $200.00 target price on shares of Boeing in a report on Wednesday, October 30th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Boeing has an average rating of “Hold” and a consensus price target of $190.11.

Boeing Price Performance

The business’s 50-day moving average price is $151.89 and its two-hundred day moving average price is $166.15. The firm has a market cap of $102.36 billion, a price-to-earnings ratio of -12.84 and a beta of 1.56.

Boeing (NYSE:BA) last released its quarterly earnings data 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 firm had revenue of $17.84 billion for the quarter, compared to the consensus estimate of $17.81 billion. During the same period in the prior year, the firm earned ($3.26) earnings per share. The firm’s quarterly revenue was down 1.5% on a year-over-year basis. As a group, sell-side analysts forecast that The Boeing Company will post -16.18 earnings per share for the current year.

Institutional Investors Weigh In On Boeing

Several institutional investors and hedge funds have recently bought and sold shares of BA. RPg Family Wealth Advisory LLC acquired a new stake in Boeing in the 3rd quarter valued at approximately $28,000. Cedar Wealth Management LLC acquired a new position in shares of Boeing during the third quarter valued at $30,000. Kiely Wealth Advisory Group Inc. bought a new stake in shares of Boeing during the second quarter valued at about $33,000. Hobbs Group Advisors LLC acquired a new stake in Boeing in the second quarter worth about $34,000. Finally, Harel Insurance Investments & Financial Services Ltd. grew its position in Boeing by 351.1% in the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 212 shares of the aircraft producer’s stock valued at $39,000 after buying an additional 165 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.