Boeing (NYSE:BA) Trading 2.1% Higher – Still a Buy?

The Boeing Company (NYSE:BA)’s stock price traded up 2.1% during mid-day trading on Thursday . The company traded as high as $170.63 and last traded at $169.75. 2,023,006 shares changed hands during mid-day trading, a decline of 73% from the average session volume of 7,608,851 shares. The stock had previously closed at $166.20.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Robert W. Baird lowered their target price on shares of Boeing from $240.00 to $200.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. UBS Group decreased their price target on shares of Boeing from $215.00 to $195.00 and set a “buy” rating on the stock in a research report on Thursday, October 24th. The Goldman Sachs Group decreased their price target on shares of Boeing from $232.00 to $202.00 and set a “buy” rating on the stock in a research report on Tuesday, September 24th. JPMorgan Chase & Co. decreased their price target on shares of Boeing from $195.00 to $190.00 and set an “overweight” rating on the stock in a research report on Monday, November 25th. Finally, Morgan Stanley decreased their price target on shares of Boeing from $195.00 to $170.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 24th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Boeing presently has a consensus rating of “Moderate Buy” and a consensus price target of $192.21.

Boeing Trading Up 1.3 %

The stock has a market capitalization of $105.80 billion, a P/E ratio of -13.27 and a beta of 1.52. The firm’s fifty day moving average is $162.76 and its 200-day moving average is $165.00.

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 the consensus estimate of ($10.34) by ($0.10). The company had revenue of $17.84 billion for the quarter, compared to analysts’ expectations of $17.81 billion. During the same period in the prior year, the company earned ($3.26) earnings per share. The firm’s revenue was down 1.5% compared to the same quarter last year. Equities research analysts expect that The Boeing Company will post -16.43 EPS for the current year.

Hedge Funds Weigh In On Boeing

A number of institutional investors have recently modified their holdings of BA. American Century Companies Inc. raised its stake in shares of Boeing by 20.8% in the second quarter. American Century Companies Inc. now owns 44,992 shares of the aircraft producer’s stock worth $8,189,000 after acquiring an additional 7,739 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. raised its stake in shares of Boeing by 8.8% in the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 10,449 shares of the aircraft producer’s stock worth $1,902,000 after acquiring an additional 841 shares during the last quarter. Waterloo Capital L.P. raised its stake in shares of Boeing by 56.2% in the second quarter. Waterloo Capital L.P. now owns 1,610 shares of the aircraft producer’s stock worth $293,000 after acquiring an additional 579 shares during the last quarter. Brighton Jones LLC grew its position in shares of Boeing by 8.0% during the 2nd quarter. Brighton Jones LLC now owns 22,102 shares of the aircraft producer’s stock worth $4,023,000 after buying an additional 1,631 shares during the period. Finally, Ieq Capital LLC grew its position in shares of Boeing by 11.3% during the 2nd quarter. Ieq Capital LLC now owns 29,154 shares of the aircraft producer’s stock worth $5,306,000 after buying an additional 2,956 shares during the period. 64.82% of the stock is 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.