Boeing (NYSE:BA) Shares Up 3.1% – Should You Buy?

Shares of The Boeing Company (NYSE:BA) rose 3.1% on Friday . The stock traded as high as $153.98 and last traded at $153.90. Approximately 5,037,446 shares changed hands during mid-day trading, a decline of 42% from the average daily volume of 8,750,946 shares. The stock had previously closed at $149.31.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on BA. The Goldman Sachs Group cut their price objective on Boeing from $232.00 to $202.00 and set a “buy” rating for the company in a report on Tuesday, September 24th. Jefferies Financial Group lowered their price objective on Boeing from $270.00 to $240.00 and set a “buy” rating on the stock in a research report on Monday, September 23rd. Sanford C. Bernstein downgraded Boeing from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $195.00 to $169.00 in a research report on Wednesday. Benchmark restated a “buy” rating and set a $250.00 price objective on shares of Boeing in a research report on Thursday, October 24th. Finally, DZ Bank downgraded Boeing from a “buy” rating to a “hold” rating and set a $152.00 price objective on the stock. in a research report on Tuesday, October 15th. 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 given a strong buy rating to the stock. According to data from MarketBeat, Boeing currently has an average rating of “Hold” and an average target price of $190.42.

Boeing Stock Performance

The company has a 50 day moving average of $157.46 and a two-hundred day moving average of $171.00. The stock has a market cap of $95.57 billion, a PE ratio of -11.98 and a beta of 1.57.

Boeing (NYSE:BA) last announced 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 company had revenue of $17.84 billion during the quarter, compared to analysts’ expectations of $17.81 billion. During the same period in the previous year, the company posted ($3.26) EPS. The firm’s quarterly revenue was down 1.5% compared to the same quarter last year. As a group, equities research analysts anticipate that The Boeing Company will post -16.22 EPS for the current year.

Institutional Investors Weigh In On Boeing

Several large investors have recently bought and sold shares of BA. Kiely Wealth Advisory Group Inc. purchased a new stake in shares of Boeing in the second quarter valued at approximately $33,000. Hobbs Group Advisors LLC acquired a new position in Boeing during the second quarter worth $34,000. McClarren Financial Advisors Inc. lifted its stake in Boeing by 451.4% during the first quarter. McClarren Financial Advisors Inc. now owns 193 shares of the aircraft producer’s stock worth $37,000 after purchasing an additional 158 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. lifted its stake in Boeing by 351.1% during the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 212 shares of the aircraft producer’s stock worth $39,000 after purchasing an additional 165 shares in the last quarter. Finally, 1620 Investment Advisors Inc. purchased a new stake in shares of Boeing during the second quarter worth $39,000. 64.82% of the stock is currently owned by hedge funds and other institutional investors.

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.