Boeing (NYSE:BA) Stock Price Up 0.8% – Still a Buy?

The Boeing Company (NYSE:BA)’s share price shot up 0.8% during trading on Tuesday . The stock traded as high as $145.99 and last traded at $145.04. 2,389,955 shares changed hands during mid-day trading, a decline of 74% from the average session volume of 9,158,310 shares. The stock had previously closed at $143.87.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on BA. Deutsche Bank Aktiengesellschaft reduced their price objective on Boeing from $225.00 to $195.00 and set a “buy” rating for the company in a research note on Thursday, October 3rd. Susquehanna lowered their price objective 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. DZ Bank downgraded shares of Boeing from a “buy” rating to a “hold” rating and set a $152.00 target price for the company. in a research report on Tuesday, October 15th. Citigroup lowered their price target on shares of Boeing from $224.00 to $209.00 and set a “buy” rating on the stock in a report on Tuesday, October 15th. Finally, Stifel Nicolaus increased their price objective on Boeing from $230.00 to $235.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $190.37.

Boeing Price Performance

The company has a market capitalization of $89.65 billion, a price-to-earnings ratio of -11.24 and a beta of 1.57. The business has a fifty day moving average price of $152.82 and a 200 day moving average price of $169.19.

Boeing (NYSE:BA) last issued its quarterly earnings results on Wednesday, October 23rd. The aircraft producer reported ($10.44) EPS for the quarter, missing analysts’ consensus estimates of ($10.34) by ($0.10). The firm had revenue of $17.84 billion during the quarter, compared to the consensus estimate of $17.81 billion. During the same period in the previous year, the business posted ($3.26) EPS. The firm’s revenue was down 1.5% on a year-over-year basis. As a group, sell-side analysts predict that The Boeing Company will post -16.2 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Boeing

Hedge funds and other institutional investors have recently made changes to their positions in the business. ING Groep NV bought a new stake in Boeing during the third quarter worth about $11,679,000. Lazari Capital Management Inc. increased its holdings in shares of Boeing by 55.7% in the second quarter. Lazari Capital Management Inc. now owns 23,216 shares of the aircraft producer’s stock valued at $4,226,000 after purchasing an additional 8,309 shares in the last quarter. Atlanta Consulting Group Advisors LLC raised its position in Boeing by 537.6% in the 3rd quarter. Atlanta Consulting Group Advisors LLC now owns 7,524 shares of the aircraft producer’s stock worth $1,144,000 after purchasing an additional 6,344 shares during the last quarter. Patten & Patten Inc. TN lifted its holdings in Boeing by 19.8% during the 3rd quarter. Patten & Patten Inc. TN now owns 24,603 shares of the aircraft producer’s stock worth $3,741,000 after buying an additional 4,065 shares in the last quarter. Finally, Czech National Bank boosted its position in Boeing by 8.4% in the 3rd quarter. Czech National Bank now owns 119,243 shares of the aircraft producer’s stock valued at $18,130,000 after buying an additional 9,281 shares during the last quarter. 64.82% of the stock is owned by 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.