Boeing (NYSE:BA) Shares Up 0.5% – Still a Buy?

Shares of The Boeing Company (NYSE:BA) shot up 0.5% during trading on Friday . The company traded as high as $157.48 and last traded at $155.94. 2,307,684 shares traded hands during trading, a decline of 72% from the average session volume of 8,099,113 shares. The stock had previously closed at $155.20.

Analyst Ratings Changes

BA has been the topic of a number of analyst reports. Robert W. Baird decreased their target price on shares of Boeing from $240.00 to $200.00 and set an “outperform” rating on the stock in a report on Thursday. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Boeing from $225.00 to $195.00 and set a “buy” rating on the stock in a report on Thursday, October 3rd. Jefferies Financial Group decreased their target price on shares of Boeing from $270.00 to $240.00 and set a “buy” rating on the stock in a report on Monday, September 23rd. Wells Fargo & Company decreased their target price on shares of Boeing from $109.00 to $86.00 and set an “underweight” rating on the stock in a report on Thursday. Finally, JPMorgan Chase & Co. decreased their target price on shares of Boeing from $235.00 to $195.00 and set an “overweight” rating on the stock in a report on Monday, October 14th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $191.79.

Boeing Stock Performance

The company’s fifty day moving average is $160.18 and its 200 day moving average is $171.89. The company has a market cap of $95.27 billion, a P/E ratio of -43.93 and a beta of 1.57.

Boeing (NYSE:BA) last released its earnings results on Wednesday, October 23rd. The aircraft producer reported ($10.44) 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. The business’s revenue was down 1.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($3.26) earnings per share. Analysts anticipate that The Boeing Company will post -5.35 EPS for the current year.

Institutional Investors Weigh In On Boeing

Several institutional investors have recently added to or reduced their stakes in the company. Diversify Advisory Services LLC boosted its position in Boeing by 1.7% during the 3rd quarter. Diversify Advisory Services LLC now owns 6,415 shares of the aircraft producer’s stock valued at $1,026,000 after buying an additional 110 shares during the period. MBA Advisors LLC boosted its position in Boeing by 8.1% during the 3rd quarter. MBA Advisors LLC now owns 1,330 shares of the aircraft producer’s stock valued at $202,000 after buying an additional 100 shares during the period. Fortitude Family Office LLC boosted its position in Boeing by 12.6% during the 3rd quarter. Fortitude Family Office LLC now owns 1,790 shares of the aircraft producer’s stock valued at $272,000 after buying an additional 200 shares during the period. Signature Wealth Management Partners LLC boosted its position in Boeing by 10.5% during the 3rd quarter. Signature Wealth Management Partners LLC now owns 2,831 shares of the aircraft producer’s stock valued at $430,000 after buying an additional 270 shares during the period. Finally, Strategic Wealth Investment Group LLC boosted its position in Boeing by 60.2% during the 3rd quarter. Strategic Wealth Investment Group LLC now owns 82,924 shares of the aircraft producer’s stock valued at $12,788,000 after buying an additional 31,150 shares during the period. 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.