Boeing (NYSE:BA) Stock Price Down 1.5% – Time to Sell?

The Boeing Company (NYSE:BA)’s share price dropped 1.5% during mid-day trading on Wednesday . The stock traded as low as $141.75 and last traded at $142.96. Approximately 5,019,965 shares changed hands during trading, a decline of 45% from the average daily volume of 9,058,251 shares. The stock had previously closed at $145.17.

Analyst Ratings Changes

Several research firms have recently commented on BA. JPMorgan Chase & Co. reduced their price target on shares of Boeing from $235.00 to $195.00 and set an “overweight” rating for the company in a report on Monday, October 14th. DZ Bank lowered Boeing from a “buy” rating to a “hold” rating and set a $152.00 target price for the company. in a report on Tuesday, October 15th. UBS Group dropped their target price on Boeing from $215.00 to $195.00 and set a “buy” rating on the stock in a research report on Thursday, October 24th. Benchmark reissued a “buy” rating and issued a $250.00 price target on shares of Boeing in a research report on Thursday, October 24th. Finally, Stifel Nicolaus raised their price objective on Boeing from $230.00 to $235.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $190.37.

Boeing Trading Down 1.3 %

The firm has a market cap of $85.39 billion, a price-to-earnings ratio of -10.71 and a beta of 1.57. The company has a fifty day moving average price of $154.03 and a 200-day moving average price of $169.89.

Boeing (NYSE:BA) last announced its quarterly earnings results on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($10.34) by ($0.10). The business 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% compared to the same quarter last year. During the same period in the previous year, the firm earned ($3.26) earnings per share. As a group, research analysts forecast that The Boeing Company will post -16.09 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Boeing

A number of large investors have recently bought and sold shares of BA. Madison Park Capital Advisors LLC grew its position in Boeing by 4.9% in the 2nd quarter. Madison Park Capital Advisors LLC now owns 1,204 shares of the aircraft producer’s stock valued at $219,000 after buying an additional 56 shares during the last quarter. Wealth Alliance Advisory Group LLC increased its stake in shares of Boeing by 1.6% during the second quarter. Wealth Alliance Advisory Group LLC now owns 3,798 shares of the aircraft producer’s stock worth $691,000 after acquiring an additional 60 shares during the period. IMS Capital Management raised its holdings in Boeing by 0.4% during the second quarter. IMS Capital Management now owns 16,032 shares of the aircraft producer’s stock worth $2,759,000 after purchasing an additional 62 shares in the last quarter. ADE LLC lifted its position in Boeing by 4.4% in the second quarter. ADE LLC now owns 1,539 shares of the aircraft producer’s stock valued at $280,000 after purchasing an additional 65 shares during the period. Finally, Towercrest Capital Management boosted its holdings in Boeing by 5.2% in the 1st quarter. Towercrest Capital Management now owns 1,357 shares of the aircraft producer’s stock valued at $262,000 after purchasing an additional 67 shares in the last quarter. Institutional investors and hedge funds 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.