Boeing (NYSE:BA) Shares Up 3% – Time to Buy?

Shares of The Boeing Company (NYSE:BA) traded up 3% on Monday . The stock traded as high as $160.26 and last traded at $160.05. 3,126,381 shares changed hands during mid-day trading, a decline of 66% from the average session volume of 9,146,794 shares. The stock had previously closed at $155.44.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on BA shares. Royal Bank of Canada reiterated an “outperform” rating and set a $200.00 target price on shares of Boeing in a research report on Wednesday, October 30th. Morgan Stanley cut their target price on shares of Boeing from $195.00 to $170.00 and set an “equal weight” rating for the company in a research report on Thursday, October 24th. TD Cowen dropped their price target on Boeing from $200.00 to $190.00 and set a “buy” rating for the company in a research note on Monday, October 14th. Citigroup reduced their price objective on Boeing from $224.00 to $209.00 and set a “buy” rating on the stock in a research report on Tuesday, October 15th. Finally, Jefferies Financial Group decreased their price target on shares of Boeing from $270.00 to $240.00 and set a “buy” rating on the stock in a research note on Monday, September 23rd. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $190.11.

Boeing Stock Performance

The firm’s fifty day moving average is $151.48 and its two-hundred day moving average is $167.35. The company has a market cap of $97.43 billion, a P/E ratio of -12.41 and a beta of 1.57.

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 the consensus estimate of ($10.34) by ($0.10). The business had revenue of $17.84 billion during the quarter, compared to analyst estimates of $17.81 billion. Boeing’s revenue for the quarter was down 1.5% compared to the same quarter last year. During the same period last year, the firm earned ($3.26) EPS. On average, equities research analysts expect that The Boeing Company will post -16.19 EPS for the current year.

Institutional Trading of Boeing

Large investors have recently modified their holdings of the company. Madison Park Capital Advisors LLC lifted its position in shares of Boeing by 4.9% in the 2nd quarter. Madison Park Capital Advisors LLC now owns 1,204 shares of the aircraft producer’s stock worth $219,000 after purchasing an additional 56 shares during the period. Wealth Alliance Advisory Group LLC raised its holdings in Boeing by 1.6% in the second quarter. Wealth Alliance Advisory Group LLC now owns 3,798 shares of the aircraft producer’s stock worth $691,000 after purchasing an additional 60 shares in the last quarter. IMS Capital Management boosted its holdings in shares of Boeing by 0.4% in the 2nd quarter. IMS Capital Management now owns 16,032 shares of the aircraft producer’s stock valued at $2,759,000 after buying an additional 62 shares in the last quarter. ADE LLC raised its stake in shares of Boeing by 4.4% during the 2nd quarter. ADE LLC now owns 1,539 shares of the aircraft producer’s stock worth $280,000 after acquiring an additional 65 shares in the last quarter. Finally, Peoples Financial Services CORP. increased its position in shares of Boeing by 0.8% during the third quarter. Peoples Financial Services CORP. now owns 8,893 shares of the aircraft producer’s stock worth $1,352,000 after purchasing an additional 67 shares in the last quarter. Hedge funds and other institutional investors 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.