Boeing (NYSE:BA) Trading 1.5% Higher – Time to Buy?

The Boeing Company (NYSE:BA)’s share price rose 1.5% during mid-day trading on Tuesday . The company traded as high as $180.43 and last traded at $180.41. Approximately 1,729,188 shares were traded during mid-day trading, a decline of 81% from the average daily volume of 9,333,236 shares. The stock had previously closed at $177.69.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Susquehanna cut their price objective on shares of Boeing from $210.00 to $200.00 and set a “positive” rating for the company in a research report on Thursday, October 24th. DZ Bank lowered shares of Boeing from a “buy” rating to a “hold” rating and set a $152.00 price target for the company. in a research report on Tuesday, October 15th. Robert W. Baird decreased their price target on shares of Boeing from $240.00 to $200.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. Jefferies Financial Group dropped their price objective on Boeing from $270.00 to $240.00 and set a “buy” rating for the company in a research note on Monday, September 23rd. Finally, Citigroup decreased their target price on Boeing from $224.00 to $209.00 and set a “buy” rating on the stock in a research note on Tuesday, October 15th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $190.11.

Boeing Trading Up 0.9 %

The firm has a 50 day moving average of $155.68 and a two-hundred day moving average of $165.64. The company has a market cap of $110.87 billion, a PE ratio of -13.90 and a beta of 1.56.

Boeing (NYSE:BA) last issued 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 firm had revenue of $17.84 billion during the quarter, compared to analysts’ expectations of $17.81 billion. Boeing’s quarterly revenue was down 1.5% on a year-over-year basis. During the same period in the previous year, the firm earned ($3.26) EPS. On average, research analysts forecast that The Boeing Company will post -16.18 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in BA. Principal Financial Group Inc. raised its holdings in Boeing by 6.1% in the 3rd quarter. Principal Financial Group Inc. now owns 666,244 shares of the aircraft producer’s stock worth $101,296,000 after acquiring an additional 38,332 shares during the last quarter. Syntax Research Inc. increased its holdings in shares of Boeing by 18.4% in the 3rd quarter. Syntax Research Inc. now owns 4,708 shares of the aircraft producer’s stock worth $716,000 after purchasing an additional 730 shares in the last quarter. Denver PWM LLC raised its stake in shares of Boeing by 728.9% in the third quarter. Denver PWM LLC now owns 5,487 shares of the aircraft producer’s stock worth $834,000 after purchasing an additional 4,825 shares during the last quarter. Inspire Trust Co. N.A. lifted its holdings in shares of Boeing by 81.0% during the third quarter. Inspire Trust Co. N.A. now owns 10,500 shares of the aircraft producer’s stock valued at $1,596,000 after purchasing an additional 4,700 shares in the last quarter. Finally, Franklin Resources Inc. boosted its position in shares of Boeing by 1,296.3% during the third quarter. Franklin Resources Inc. now owns 1,136,895 shares of the aircraft producer’s stock valued at $169,386,000 after buying an additional 1,055,472 shares during the last quarter. 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.