Boeing (NYSE:BA) Stock Price Up 0.5% – Should You Buy?

Shares of The Boeing Company (NYSE:BA) traded up 0.5% during trading on Friday . The stock traded as high as $157.48 and last traded at $155.94. 2,307,684 shares traded hands during trading, a decline of 72% from the average session volume of 8,099,113 shares. The stock had previously closed at $155.20.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. The Goldman Sachs Group decreased their target price on shares of Boeing from $232.00 to $202.00 and set a “buy” rating for the company in a report on Tuesday, September 24th. Wells Fargo & Company decreased their price objective on shares of Boeing from $109.00 to $86.00 and set an “underweight” rating for the company in a report on Thursday. Benchmark reaffirmed a “buy” rating and issued a $250.00 price objective on shares of Boeing in a research report on Thursday. TD Cowen reduced their target price on Boeing from $200.00 to $190.00 and set a “buy” rating for the company in a report on Monday, October 14th. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on Boeing from $225.00 to $195.00 and set a “buy” rating on the stock in a report on Thursday, October 3rd. Three analysts have rated the stock with a sell rating, eight have issued a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $191.79.

Boeing Trading Down 0.1 %

The firm has a market cap of $95.16 billion, a PE ratio of -43.66 and a beta of 1.57. The company’s 50 day moving average price is $159.68 and its two-hundred day moving average price is $171.66.

Boeing (NYSE:BA) last released its quarterly earnings results on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share (EPS) 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. During the same period in the previous year, the company earned ($3.26) earnings per share. The business’s revenue for the quarter was down 1.5% compared to the same quarter last year. Equities research analysts expect that The Boeing Company will post -5.35 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Boeing

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Hobbs Group Advisors LLC bought a new position in shares of Boeing in the second quarter worth approximately $34,000. McClarren Financial Advisors Inc. lifted its stake in shares of Boeing by 451.4% during the 1st quarter. McClarren Financial Advisors Inc. now owns 193 shares of the aircraft producer’s stock valued at $37,000 after buying an additional 158 shares in the last quarter. Kiely Wealth Advisory Group Inc. bought a new position in Boeing in the 2nd quarter worth $33,000. Harel Insurance Investments & Financial Services Ltd. boosted its holdings in Boeing by 351.1% in the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 212 shares of the aircraft producer’s stock worth $39,000 after buying an additional 165 shares during the period. Finally, 1620 Investment Advisors Inc. purchased a new stake in Boeing in the 2nd quarter worth $39,000. 64.82% of the stock is owned by hedge funds and other institutional investors.

About Boeing

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.