Boeing (NYSE:BA) Trading 2.7% Higher – Should You Buy?

The Boeing Company (NYSE:BA)’s stock price was up 2.7% during mid-day trading on Tuesday . The company traded as high as $175.68 and last traded at $175.79. Approximately 2,551,030 shares changed hands during trading, a decline of 67% from the average daily volume of 7,637,667 shares. The stock had previously closed at $171.09.

Analysts Set New Price Targets

Several equities research analysts have weighed in on BA shares. Benchmark reiterated a “buy” rating and issued a $250.00 price objective on shares of Boeing in a report on Thursday, October 24th. Citigroup dropped their price target on Boeing from $224.00 to $209.00 and set a “buy” rating for the company in a research note on Tuesday, October 15th. Royal Bank of Canada reiterated an “outperform” rating and issued a $200.00 price target on shares of Boeing in a report on Wednesday, October 30th. Barclays upgraded shares of Boeing from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $190.00 to $210.00 in a report on Monday, January 6th. Finally, The Goldman Sachs Group cut their target price on shares of Boeing from $232.00 to $202.00 and set a “buy” rating on the stock in a research note on Tuesday, September 24th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $192.21.

Boeing Trading Up 2.6 %

The business’s 50 day simple moving average is $163.59 and its 200 day simple moving average is $164.52. The firm has a market capitalization of $108.54 billion, a PE ratio of -13.61 and a beta of 1.52.

Boeing (NYSE:BA) last posted 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 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 period last year, the firm earned ($3.26) earnings per share. Analysts forecast that The Boeing Company will post -16.43 earnings per share for the current year.

Institutional Investors Weigh In On Boeing

Several hedge funds and other institutional investors have recently modified their holdings of the business. Van ECK Associates Corp grew its stake in Boeing by 122.0% in the 3rd quarter. Van ECK Associates Corp now owns 2,277,548 shares of the aircraft producer’s stock worth $357,712,000 after acquiring an additional 1,251,456 shares in the last quarter. International Assets Investment Management LLC boosted its holdings in shares of Boeing by 289.8% in the third quarter. International Assets Investment Management LLC now owns 1,682,970 shares of the aircraft producer’s stock valued at $2,558,790,000 after purchasing an additional 1,251,165 shares during the period. Franklin Resources Inc. grew its stake in Boeing by 1,296.3% in the third quarter. Franklin Resources Inc. now owns 1,136,895 shares of the aircraft producer’s stock worth $169,386,000 after purchasing an additional 1,055,472 shares in the last quarter. State Street Corp increased its holdings in Boeing by 2.3% during the 3rd 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 during the period. Finally, Jennison Associates LLC raised its position in Boeing by 9.9% during the 3rd quarter. Jennison Associates LLC now owns 6,700,706 shares of the aircraft producer’s stock valued at $1,018,775,000 after purchasing an additional 602,143 shares in the last quarter. 64.82% of the stock is currently owned by hedge funds and other institutional investors.

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.