Boeing (NYSE:BA) Stock Price Up 0.6% – Should You Buy?

The Boeing Company (NYSE:BA) shares shot up 0.6% on Tuesday . The stock traded as high as $179.35 and last traded at $177.69. 2,709,406 shares were traded during mid-day trading, a decline of 71% from the average session volume of 9,328,779 shares. The stock had previously closed at $176.55.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on BA. Jefferies Financial Group cut their price objective on shares of Boeing from $270.00 to $240.00 and set a “buy” rating on the stock in a research report on Monday, September 23rd. Royal Bank of Canada reiterated an “outperform” rating and issued a $200.00 target price on shares of Boeing in a report on Wednesday, October 30th. DZ Bank cut shares of Boeing from a “buy” rating to a “hold” rating and set a $152.00 price target on the stock. in a report on Tuesday, October 15th. Benchmark restated a “buy” rating and issued a $250.00 target price on shares of Boeing in a research note on Thursday, October 24th. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on shares of Boeing from $225.00 to $195.00 and set a “buy” rating on the stock in a report on Thursday, October 3rd. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $190.11.

Boeing Trading Up 0.3 %

The stock’s fifty day moving average price is $158.80 and its 200 day moving average price is $165.49. The stock has a market cap of $109.42 billion, a P/E ratio of -13.72 and a beta of 1.56.

Boeing (NYSE:BA) last announced its quarterly earnings data 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 the consensus estimate of $17.81 billion. The company’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same quarter last year, the company posted ($3.26) earnings per share. On average, analysts anticipate that The Boeing Company will post -16.18 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Rockefeller Capital Management L.P. boosted its stake in shares of Boeing by 8.8% during the third quarter. Rockefeller Capital Management L.P. now owns 473,917 shares of the aircraft producer’s stock valued at $72,075,000 after purchasing an additional 38,300 shares during the period. Principal Financial Group Inc. grew 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. Jennison Associates LLC grew its holdings in Boeing by 9.9% in the 3rd quarter. Jennison Associates LLC now owns 6,700,706 shares of the aircraft producer’s stock worth $1,018,775,000 after acquiring an additional 602,143 shares during the last quarter. World Investment Advisors LLC raised its stake in shares of Boeing by 243.4% during the third quarter. World Investment Advisors LLC now owns 5,381 shares of the aircraft producer’s stock valued at $818,000 after acquiring an additional 3,814 shares during the last quarter. Finally, ING Groep NV purchased a new stake in shares of Boeing during the third quarter worth about $11,679,000. 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.