Boeing (NYSE:BA) Stock Price Up 0.9% - Time to Buy?

The Boeing Company (NYSE:BA - Get Free Report) shares traded up 0.9% on Wednesday . The company traded as high as $169.30 and last traded at $165.64. 4,915,007 shares changed hands during trading, a decline of 46% from the average session volume of 9,184,950 shares. The stock had previously closed at $164.10.

Wall Street Analyst Weigh In

BA has been the subject of several recent research reports. Jefferies Financial Group decreased their price target on Boeing from $270.00 to $240.00 and set a "buy" rating for the company in a research note on Monday, September 23rd. DZ Bank downgraded shares of Boeing from a "buy" rating to a "hold" rating and set a $152.00 price target on the stock. in a research report on Tuesday, October 15th. JPMorgan Chase & Co. decreased their price objective on shares of Boeing from $195.00 to $190.00 and set an "overweight" rating for the company in a research report on Monday, November 25th. The Goldman Sachs Group decreased their price target on Boeing from $232.00 to $202.00 and set a "buy" rating for the company in a report on Tuesday, September 24th. Finally, Sanford C. Bernstein cut Boeing from an "outperform" rating to a "market perform" rating and cut their price target for the stock from $195.00 to $169.00 in a report on Wednesday, October 30th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $190.11.

Boeing Stock Up 0.9 %

The stock has a 50-day moving average of $151.89 and a 200 day moving average of $166.15. The company has a market capitalization of $102.36 billion, a PE ratio of -12.84 and a beta of 1.56.

Boeing (NYSE:BA - Get Free Report) last posted its earnings results on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share for the quarter, missing the consensus estimate of ($10.34) by ($0.10). The firm had revenue of $17.84 billion for the quarter, compared to analysts' expectations of $17.81 billion. During the same period last year, the firm earned ($3.26) EPS. The firm's quarterly revenue was down 1.5% on a year-over-year basis. Equities analysts forecast that The Boeing Company will post -16.18 EPS for the current fiscal year.

Institutional Trading of Boeing

Hedge funds have recently added to or reduced their stakes in the business. Van ECK Associates Corp lifted its stake in Boeing by 122.0% in the third quarter. Van ECK Associates Corp now owns 2,277,548 shares of the aircraft producer's stock worth $357,712,000 after acquiring an additional 1,251,456 shares during the period. International Assets Investment Management LLC increased its stake in shares of Boeing by 289.8% during the third quarter. International Assets Investment Management LLC now owns 1,682,970 shares of the aircraft producer's stock valued at $2,558,790,000 after purchasing an additional 1,251,165 shares in the last quarter. Franklin Resources Inc. raised its stake in Boeing by 1,296.3% during the third quarter. Franklin Resources Inc. now owns 1,136,895 shares of the aircraft producer's stock valued at $169,386,000 after buying an additional 1,055,472 shares during the last quarter. Wulff Hansen & CO. raised its position in shares of Boeing by 15,039.0% in the 2nd quarter. Wulff Hansen & CO. now owns 967,383 shares of the aircraft producer's stock worth $176,073,000 after purchasing an additional 960,993 shares during the last quarter. Finally, State Street Corp raised its holdings in Boeing by 2.3% in the third quarter. State Street Corp now owns 27,778,195 shares of the aircraft producer's stock worth $4,223,397,000 after buying an additional 636,594 shares during the last quarter. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.