Boeing (NYSE:BA) Trading Down 1.2% – Should You Sell?

The Boeing Company (NYSE:BA)’s share price was down 1.2% during mid-day trading on Monday . The company traded as low as $174.64 and last traded at $175.21. Approximately 2,706,179 shares changed hands during mid-day trading, a decline of 71% from the average daily volume of 9,340,104 shares. The stock had previously closed at $177.35.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on BA. JPMorgan Chase & Co. decreased their target price on shares of Boeing from $195.00 to $190.00 and set an “overweight” rating on the stock in a research report on Monday, November 25th. Benchmark reaffirmed a “buy” rating and set a $250.00 price objective on shares of Boeing in a research note on Thursday, October 24th. Sanford C. Bernstein lowered Boeing from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $195.00 to $169.00 in a research note on Wednesday, October 30th. The Goldman Sachs Group dropped their target price on Boeing from $232.00 to $202.00 and set a “buy” rating for the company in a report on Tuesday, September 24th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $200.00 price objective on shares of Boeing in a research report on Wednesday, October 30th. Two analysts have rated the stock with a sell rating, ten have given a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $190.11.

Boeing Stock Up 0.9 %

The company’s fifty day simple moving average is $156.21 and its 200 day simple moving average is $165.56. The firm has a market capitalization of $110.87 billion, a PE ratio of -13.90 and a beta of 1.56.

Boeing (NYSE:BA) last released its 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 firm posted ($3.26) EPS. The firm’s revenue for the quarter was down 1.5% compared to the same quarter last year. Equities research analysts forecast that The Boeing Company will post -16.18 EPS for the current year.

Hedge Funds Weigh In On Boeing

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. RPg Family Wealth Advisory LLC bought a new position in shares of Boeing in the 3rd quarter worth about $28,000. Kiely Wealth Advisory Group Inc. bought a new stake in Boeing during the second quarter worth about $33,000. Cedar Wealth Management LLC purchased a new stake in Boeing in the third quarter worth about $30,000. Mizuho Securities Co. Ltd. increased its stake in shares of Boeing by 40.0% during the second quarter. Mizuho Securities Co. Ltd. now owns 280 shares of the aircraft producer’s stock valued at $51,000 after purchasing an additional 80 shares in the last quarter. Finally, Meeder Asset Management Inc. lifted its holdings in shares of Boeing by 325.4% during the second quarter. Meeder Asset Management Inc. now owns 302 shares of the aircraft producer’s stock valued at $55,000 after purchasing an additional 231 shares during the last quarter. Hedge funds and other institutional investors own 64.82% of the company’s stock.

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.