Boeing (NYSE:BA) Shares Down 0.4% – Time to Sell?

by · The Markets Daily

Shares of The Boeing Company (NYSE:BA – Get Free Report) fell 0.4% during mid-day trading on Tuesday . The company traded as low as $158.37 and last traded at $159.20. 1,710,793 shares traded hands during mid-day trading, a decline of 79% from the average session volume of 8,054,549 shares. The stock had previously closed at $159.82.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Morgan Stanley decreased their target price on shares of Boeing from $195.00 to $170.00 and set an “equal weight” rating for the company in a research note on Friday. Jefferies Financial Group decreased their price objective on shares of Boeing from $270.00 to $240.00 and set a “buy” rating for the company in a report on Monday, September 23rd. Sanford C. Bernstein cut their target price on shares of Boeing from $207.00 to $195.00 and set an “outperform” rating on the stock in a research note on Thursday, October 17th. Stifel Nicolaus upped their price objective on Boeing from $230.00 to $235.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Finally, TD Cowen lowered their target price on shares of Boeing from $200.00 to $190.00 and set a “buy” rating for the company in a research note on Monday, October 14th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $198.79.

Get Our Latest Stock Analysis on BA

Boeing Stock Down 0.3 %

The firm has a market cap of $97.84 billion, a price-to-earnings ratio of -44.85 and a beta of 1.57. The stock’s 50 day moving average is $161.01 and its 200 day moving average is $172.28.

Boeing (NYSE:BA – Get Free Report) last issued its quarterly earnings results on Wednesday, July 31st. The aircraft producer reported ($2.90) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.00) by ($1.90). The firm had revenue of $16.87 billion during the quarter, compared to the consensus estimate of $17.35 billion. During the same quarter in the previous year, the business posted ($0.82) EPS. The business’s revenue for the quarter was down 14.6% compared to the same quarter last year. Analysts anticipate that The Boeing Company will post -5.35 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Boeing

Institutional investors and hedge funds have recently bought and sold shares of the business. Kiely Wealth Advisory Group Inc. bought a new position in shares of Boeing in the second quarter valued at $33,000. Hobbs Group Advisors LLC purchased a new stake in shares of Boeing during the second quarter valued at $34,000. McClarren Financial Advisors Inc. boosted its position in shares of Boeing by 451.4% in the 1st quarter. McClarren Financial Advisors Inc. now owns 193 shares of the aircraft producer’s stock valued at $37,000 after purchasing an additional 158 shares during the period. Harel Insurance Investments & Financial Services Ltd. lifted its stake in Boeing by 351.1% during the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 212 shares of the aircraft producer’s stock valued at $39,000 after buying an additional 165 shares in the last quarter. Finally, 1620 Investment Advisors Inc. acquired a new stake in shares of Boeing during the second quarter valued at approximately $39,000. 64.82% of the stock is owned by institutional investors and hedge funds.

About Boeing

(Get Free Report)

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.

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