Boeing (NYSE:BA) Trading 1.1% Higher – Should You Buy?

The Boeing Company (NYSE:BA) shares rose 1.1% during mid-day trading on Thursday . The company traded as high as $152.91 and last traded at $152.40. Approximately 5,210,147 shares traded hands during mid-day trading, a decline of 43% from the average daily volume of 9,185,470 shares. The stock had previously closed at $150.76.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Robert W. Baird dropped their price target on Boeing from $240.00 to $200.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. Susquehanna dropped their target price on shares of Boeing from $210.00 to $200.00 and set a “positive” rating on the stock in a research report on Thursday, October 24th. UBS Group reduced their price target on shares of Boeing from $215.00 to $195.00 and set a “buy” rating for the company in a report on Thursday, October 24th. The Goldman Sachs Group dropped their price objective on shares of Boeing from $232.00 to $202.00 and set a “buy” rating on the stock in a report on Tuesday, September 24th. Finally, DZ Bank downgraded Boeing from a “buy” rating to a “hold” rating and set a $152.00 target price on the stock. in a research report on Tuesday, October 15th. Three equities 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 company. According to MarketBeat.com, Boeing presently has a consensus rating of “Hold” and an average price target of $190.11.

Boeing Price Performance

The company’s 50 day simple moving average is $151.48 and its two-hundred day simple moving average is $167.51. The stock has a market capitalization of $96.22 billion, a P/E ratio of -12.07 and a beta of 1.57.

Boeing (NYSE:BA) last released 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 company 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 last year, the company earned ($3.26) earnings per share. On average, research analysts anticipate that The Boeing Company will post -16.19 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Boeing

Hedge funds have recently added to or reduced their stakes in the stock. Jennison Associates LLC increased its stake in shares of Boeing by 9.9% in 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 buying an additional 602,143 shares during the period. ING Groep NV acquired a new stake in Boeing in the third quarter worth about $11,679,000. Lazari Capital Management Inc. raised its holdings in Boeing by 55.7% during the 2nd quarter. Lazari Capital Management Inc. now owns 23,216 shares of the aircraft producer’s stock worth $4,226,000 after purchasing an additional 8,309 shares during the last quarter. Atlanta Consulting Group Advisors LLC lifted its position in Boeing by 537.6% during the 3rd quarter. Atlanta Consulting Group Advisors LLC now owns 7,524 shares of the aircraft producer’s stock valued at $1,144,000 after purchasing an additional 6,344 shares during the period. Finally, Patten & Patten Inc. TN boosted its stake in shares of Boeing by 19.8% in the 3rd quarter. Patten & Patten Inc. TN now owns 24,603 shares of the aircraft producer’s stock valued at $3,741,000 after purchasing an additional 4,065 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.