Boeing (NYSE:BA) Trading 1.2% Higher – Time to Buy?

The Boeing Company (NYSE:BA)’s share price was up 1.2% during mid-day trading on Tuesday . The company traded as high as $175.02 and last traded at $172.90. Approximately 2,337,119 shares were traded during mid-day trading, a decline of 74% from the average daily volume of 9,006,966 shares. The stock had previously closed at $170.78.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on BA shares. Wells Fargo & Company reduced 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. UBS Group decreased their target price on Boeing from $215.00 to $195.00 and set a “buy” rating for the company in a research note on Thursday, October 24th. Benchmark reiterated a “buy” rating and set a $250.00 price target on shares of Boeing in a research note on Thursday, October 24th. JPMorgan Chase & Co. cut their target price on Boeing from $195.00 to $190.00 and set an “overweight” rating on the stock in a research report on Monday, November 25th. Finally, Sanford C. Bernstein downgraded Boeing from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $195.00 to $169.00 in a research note on Wednesday, October 30th. 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 given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $192.21.

Boeing Stock Performance

The firm has a fifty day moving average price of $160.58 and a 200 day moving average price of $165.32. The firm has a market capitalization of $106.36 billion, a price-to-earnings ratio of -13.34 and a beta of 1.52.

Boeing (NYSE:BA) last posted its quarterly earnings results on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share for the quarter, missing analysts’ consensus estimates 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. During the same quarter in the previous year, the business posted ($3.26) earnings per share. The firm’s revenue for the quarter was down 1.5% on a year-over-year basis. Research analysts predict that The Boeing Company will post -16.18 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Boeing

Institutional investors and hedge funds have recently modified their holdings of the company. RPg Family Wealth Advisory LLC purchased a new position in shares of Boeing in the third quarter valued at $28,000. Cedar Wealth Management LLC purchased a new stake in shares of Boeing in the 3rd quarter worth about $30,000. Kiely Wealth Advisory Group Inc. acquired a new stake in Boeing in the 2nd quarter valued at about $33,000. Strategic Financial Concepts LLC purchased a new position in Boeing during the 2nd quarter valued at about $41,000. Finally, Planning Capital Management Corp raised its position in Boeing by 741.0% during the third quarter. Planning Capital Management Corp now owns 328 shares of the aircraft producer’s stock worth $50,000 after acquiring an additional 289 shares during 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.