Boeing (NYSE:BA) Stock Price Up 0.9% – Still a Buy?

The Boeing Company (NYSE:BA)’s share price was up 0.9% during mid-day trading on Monday . The stock traded as high as $173.94 and last traded at $171.36. Approximately 3,572,935 shares traded hands during mid-day trading, a decline of 59% from the average daily volume of 8,664,484 shares. The stock had previously closed at $169.90.

Wall Street Analyst Weigh In

BA has been the subject of a number of recent research reports. Sanford C. Bernstein cut Boeing from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $195.00 to $169.00 in a research note on Wednesday, October 30th. Susquehanna cut their price objective on shares of Boeing from $210.00 to $200.00 and set a “positive” rating on the stock in a research report on Thursday, October 24th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Boeing from $184.00 to $215.00 and gave the stock a “buy” rating in a report on Thursday, January 2nd. Morgan Stanley cut their price target on shares of Boeing from $195.00 to $170.00 and set an “equal weight” rating on the stock in a report on Thursday, October 24th. Finally, The Goldman Sachs Group decreased their price objective on shares of Boeing from $232.00 to $202.00 and set a “buy” rating for the company in a report on Tuesday, September 24th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $192.21.

Boeing Stock Down 0.3 %

The company has a fifty day moving average price of $160.22 and a 200-day moving average price of $165.27. The stock has a market capitalization of $106.36 billion, a P/E ratio of -13.34 and a beta of 1.52.

Boeing (NYSE:BA) last issued its quarterly earnings data on Wednesday, October 23rd. The aircraft producer reported ($10.44) EPS for the quarter, missing analysts’ consensus estimates of ($10.34) by ($0.10). The business had revenue of $17.84 billion for the quarter, compared to analyst estimates of $17.81 billion. During the same period in the prior year, the firm earned ($3.26) earnings per share. The firm’s quarterly revenue was down 1.5% on a year-over-year basis. As a group, research analysts expect that The Boeing Company will post -16.18 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. Legacy Private Trust Co. boosted its stake in shares of Boeing by 9.1% during the fourth quarter. Legacy Private Trust Co. now owns 15,383 shares of the aircraft producer’s stock valued at $2,723,000 after purchasing an additional 1,288 shares during the period. First Hawaiian Bank boosted its stake in shares of Boeing by 226.6% during the fourth quarter. First Hawaiian Bank now owns 9,337 shares of the aircraft producer’s stock valued at $1,653,000 after purchasing an additional 6,478 shares in the last quarter. Douglas Lane & Associates LLC raised its position in shares of Boeing by 6.4% in the 4th quarter. Douglas Lane & Associates LLC now owns 434,740 shares of the aircraft producer’s stock worth $76,949,000 after acquiring an additional 26,042 shares in the last quarter. Weaver Consulting Group boosted its holdings in shares of Boeing by 3.2% in the 4th quarter. Weaver Consulting Group now owns 11,874 shares of the aircraft producer’s stock valued at $2,102,000 after buying an additional 363 shares in the last quarter. Finally, Sterneck Capital Management LLC grew its holdings in Boeing by 2.3% in the fourth quarter. Sterneck Capital Management LLC now owns 2,992 shares of the aircraft producer’s stock worth $530,000 after purchasing an additional 66 shares during the last quarter. Hedge funds and other institutional investors 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.