Boeing (NYSE:BA) Stock Price Up 0.9% – Should You Buy?

The Boeing Company (NYSE:BA) shares shot up 0.9% during mid-day trading on Wednesday . The stock traded as high as $147.30 and last traded at $146.84. 2,263,878 shares traded hands during mid-day trading, a decline of 75% from the average session volume of 9,153,700 shares. The stock had previously closed at $145.60.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on BA shares. Sanford C. Bernstein lowered shares of Boeing from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $195.00 to $169.00 in a research note on Wednesday, October 30th. DZ Bank cut Boeing from a “buy” rating to a “hold” rating and set a $152.00 price target on the stock. in a research note on Tuesday, October 15th. Benchmark reaffirmed a “buy” rating and set a $250.00 price objective on shares of Boeing in a research report on Thursday, October 24th. UBS Group cut their target price on Boeing from $215.00 to $195.00 and set a “buy” rating on the stock in a research report on Thursday, October 24th. Finally, Susquehanna dropped their price target on shares of Boeing from $210.00 to $200.00 and set a “positive” rating on the stock in a research note on Thursday, October 24th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $190.37.

Boeing Trading Down 1.5 %

The firm has a 50 day simple moving average of $151.85 and a two-hundred day simple moving average of $168.62. The company has a market capitalization of $88.92 billion, a PE ratio of -11.15 and a beta of 1.57.

Boeing (NYSE:BA) last posted 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. During the same quarter in the previous year, the business posted ($3.26) EPS. Boeing’s quarterly revenue was down 1.5% on a year-over-year basis. Research analysts expect that The Boeing Company will post -16.2 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Jennison Associates LLC grew its holdings 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 worth $1,018,775,000 after acquiring an additional 602,143 shares during the period. ING Groep NV purchased a new stake in Boeing during the 3rd quarter worth about $11,679,000. Lazari Capital Management Inc. raised its stake in Boeing by 55.7% in the 2nd 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 during the last quarter. Atlanta Consulting Group Advisors LLC lifted its holdings 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 valued at $1,144,000 after purchasing an additional 6,344 shares in the last quarter. Finally, Patten & Patten Inc. TN grew its holdings in shares of Boeing by 19.8% during the third 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. 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.