Boeing (NYSE:BA) Stock Price Up 0.3% – Should You Buy?

The Boeing Company (NYSE:BA)’s share price shot up 0.3% during trading on Wednesday . The company traded as high as $179.35 and last traded at $177.00. 9,739,162 shares were traded during trading, an increase of 4% from the average session volume of 9,357,763 shares. The stock had previously closed at $176.55.

Analysts Set New Price Targets

Several research analysts recently weighed in on BA shares. JPMorgan Chase & Co. cut their target price on shares of Boeing from $195.00 to $190.00 and set an “overweight” rating for the company in a research note on Monday, November 25th. Jefferies Financial Group reduced their price objective on shares of Boeing from $270.00 to $240.00 and set a “buy” rating on the stock in a research note on Monday, September 23rd. Sanford C. Bernstein cut shares of Boeing from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $195.00 to $169.00 in a research note on Wednesday, October 30th. DZ Bank lowered 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. Finally, Morgan Stanley decreased their price objective on Boeing from $195.00 to $170.00 and set an “equal weight” rating on the stock in a report on Thursday, October 24th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $191.16.

Boeing Stock Performance

The firm has a fifty day moving average of $158.80 and a 200-day moving average of $165.49. The stock has a market capitalization of $106.25 billion, a price-to-earnings ratio of -13.32 and a beta of 1.56.

Boeing (NYSE:BA) last issued its quarterly earnings data 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 business had revenue of $17.84 billion for the quarter, compared to the consensus estimate of $17.81 billion. The firm’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same period last year, the business earned ($3.26) earnings per share. On average, analysts predict that The Boeing Company will post -16.18 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Principal Financial Group Inc. grew its position in shares of Boeing by 6.1% during the third quarter. Principal Financial Group Inc. now owns 666,244 shares of the aircraft producer’s stock worth $101,296,000 after buying an additional 38,332 shares in the last quarter. Syntax Research Inc. boosted its stake in Boeing by 18.4% during the 3rd quarter. Syntax Research Inc. now owns 4,708 shares of the aircraft producer’s stock valued at $716,000 after acquiring an additional 730 shares during the last quarter. Denver PWM LLC grew its holdings in Boeing by 728.9% during the 3rd quarter. Denver PWM LLC now owns 5,487 shares of the aircraft producer’s stock worth $834,000 after acquiring an additional 4,825 shares in the last quarter. Inspire Trust Co. N.A. increased its position in shares of Boeing by 81.0% in the 3rd quarter. Inspire Trust Co. N.A. now owns 10,500 shares of the aircraft producer’s stock worth $1,596,000 after purchasing an additional 4,700 shares during the last quarter. Finally, Franklin Resources Inc. raised its stake in shares of Boeing by 1,296.3% in the 3rd quarter. Franklin Resources Inc. now owns 1,136,895 shares of the aircraft producer’s stock valued at $169,386,000 after purchasing an additional 1,055,472 shares in the last quarter. 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.