Boeing (NYSE:BA) Stock Price Down 0.4% – Should You Sell?

The Boeing Company (NYSE:BA)’s stock price fell 0.4% on Wednesday . The stock traded as low as $169.61 and last traded at $171.80. 1,569,275 shares changed hands during trading, a decline of 82% from the average session volume of 8,506,894 shares. The stock had previously closed at $172.51.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Deutsche Bank Aktiengesellschaft upped their target price on Boeing from $184.00 to $215.00 and gave the company a “buy” rating in a research note on Thursday, January 2nd. DZ Bank cut shares of Boeing from a “buy” rating to a “hold” rating and set a $152.00 price objective for the company. in a research note on Tuesday, October 15th. 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 research report on Thursday, October 24th. Citigroup dropped their price target on shares of Boeing from $224.00 to $209.00 and set a “buy” rating for the company in a research report on Tuesday, October 15th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $200.00 price target on shares of Boeing in a research note on Wednesday, October 30th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Boeing currently has a consensus rating of “Moderate Buy” and a consensus price target of $192.21.

Boeing Trading Up 0.1 %

The company has a market cap of $106.76 billion, a P/E ratio of -13.39 and a beta of 1.52. The firm’s 50 day moving average price is $160.22 and its 200-day moving average price is $165.27.

Boeing (NYSE:BA) last posted 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 firm had revenue of $17.84 billion during the quarter, compared to the consensus estimate of $17.81 billion. The company’s revenue for the quarter was down 1.5% on a year-over-year basis. During the same period in the prior year, the firm earned ($3.26) EPS. Analysts predict that The Boeing Company will post -16.18 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Lantz Financial LLC raised its holdings in Boeing by 109.7% during the 2nd quarter. Lantz Financial LLC now owns 2,695 shares of the aircraft producer’s stock worth $491,000 after buying an additional 1,410 shares during the period. Strategic Financial Concepts LLC bought a new stake in Boeing in the 2nd quarter valued at $41,000. Caprock Group LLC boosted its stake in Boeing by 40.0% in the 2nd quarter. Caprock Group LLC now owns 9,982 shares of the aircraft producer’s stock worth $1,817,000 after purchasing an additional 2,854 shares during the period. Ballentine Partners LLC increased its holdings in Boeing by 4.2% during the 2nd quarter. Ballentine Partners LLC now owns 5,584 shares of the aircraft producer’s stock worth $1,016,000 after purchasing an additional 223 shares in the last quarter. Finally, First Foundation Advisors raised its stake in shares of Boeing by 8.4% in the 2nd quarter. First Foundation Advisors now owns 5,791 shares of the aircraft producer’s stock valued at $1,054,000 after purchasing an additional 451 shares during the period. 64.82% of the stock is currently owned by 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.