Boeing (NYSE:BA) Trading 1% Higher – Should You Buy?

The Boeing Company (NYSE:BA) traded up 1% during trading on Monday . The stock traded as high as $153.28 and last traded at $150.79. 3,399,351 shares were traded during mid-day trading, a decline of 63% from the average session volume of 9,171,703 shares. The stock had previously closed at $149.29.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Benchmark reaffirmed a “buy” rating and issued a $250.00 price objective on shares of Boeing in a report on Thursday, October 24th. Citigroup cut 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. TD Cowen lowered their target price on Boeing from $200.00 to $190.00 and set a “buy” rating on the stock in a research note on Monday, October 14th. Sanford C. Bernstein lowered Boeing from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from $195.00 to $169.00 in a report on Wednesday, October 30th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $200.00 target price on shares of Boeing in a research report on Wednesday, October 30th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $190.11.

Boeing Trading Up 2.5 %

The stock has a 50 day moving average price of $151.70 and a 200 day moving average price of $168.27. The company has a market cap of $94.63 billion, a PE ratio of -11.69 and a beta of 1.57.

Boeing (NYSE:BA) last issued its 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 company had revenue of $17.84 billion for the quarter, compared to the consensus estimate of $17.81 billion. During the same quarter in the prior year, the company earned ($3.26) EPS. The company’s revenue was down 1.5% compared to the same quarter last year. Equities analysts expect that The Boeing Company will post -16.2 EPS for the current fiscal year.

Hedge Funds Weigh In On Boeing

Several 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 $28,000. Cedar Wealth Management LLC purchased a new position in shares of Boeing during the 3rd quarter valued at about $30,000. Kiely Wealth Advisory Group Inc. acquired a new position in Boeing in the second quarter valued at approximately $33,000. Hobbs Group Advisors LLC acquired a new position in shares of Boeing in the 2nd quarter valued at $34,000. Finally, Harel Insurance Investments & Financial Services Ltd. lifted its position in shares of Boeing by 351.1% during the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 212 shares of the aircraft producer’s stock valued at $39,000 after buying an additional 165 shares in the last quarter. 64.82% of the stock is currently owned by institutional investors.

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.