Boeing (NYSE:BA) Stock Price Up 1.9% – Still a Buy?

The Boeing Company (NYSE:BA) rose 1.9% during mid-day trading on Friday . The company traded as high as $187.58 and last traded at $186.43. Approximately 3,218,856 shares traded hands during mid-day trading, a decline of 63% from the average daily volume of 8,718,614 shares. The stock had previously closed at $182.89.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. TD Securities reissued a “buy” rating and issued a $180.00 price objective on shares of Boeing in a research report on Thursday, April 24th. StockNews.com raised Boeing to a “sell” rating in a research note on Thursday, April 24th. JPMorgan Chase & Co. raised their price objective on shares of Boeing from $190.00 to $200.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. Morgan Stanley boosted their target price on shares of Boeing from $175.00 to $185.00 and gave the company an “equal weight” rating in a research report on Thursday, April 24th. Finally, Wells Fargo & Company restated an “underweight” rating and issued a $140.00 price target (up from $111.00) on shares of Boeing in a report on Wednesday, April 23rd. Two analysts have rated the stock with a sell rating, four have issued a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $200.90.

Boeing Stock Performance

The company’s 50 day moving average price is $165.14 and its 200-day moving average price is $165.82. The stock has a market cap of $139.86 billion, a P/E ratio of -10.13 and a beta of 1.40.

Boeing (NYSE:BA) last posted its quarterly earnings data on Wednesday, April 23rd. The aircraft producer reported ($0.49) EPS for the quarter, beating the consensus estimate of ($1.39) by $0.90. The firm had revenue of $19.50 billion during the quarter, compared to analysts’ expectations of $19.57 billion. During the same quarter last year, the business posted ($1.13) EPS. The company’s quarterly revenue was up 17.7% on a year-over-year basis. On average, analysts forecast that The Boeing Company will post -2.58 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Boeing news, EVP Uma M. Amuluru sold 3,159 shares of the business’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $180.69, for a total value of $570,799.71. Following the transaction, the executive vice president now directly owns 19,213 shares in the company, valued at $3,471,596.97. The trade was a 14.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.09% of the company’s stock.

Institutional Investors Weigh In On Boeing

A number of hedge funds have recently modified their holdings of BA. World Investment Advisors LLC increased its position in shares of Boeing by 243.4% during the third quarter. World Investment Advisors LLC now owns 5,381 shares of the aircraft producer’s stock valued at $818,000 after buying an additional 3,814 shares during the period. Franklin Resources Inc. grew 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 acquiring an additional 1,055,472 shares in the last quarter. Principal Financial Group Inc. increased its holdings in Boeing by 6.1% during the 3rd quarter. Principal Financial Group Inc. now owns 666,244 shares of the aircraft producer’s stock worth $101,296,000 after acquiring an additional 38,332 shares during the period. Versant Capital Management Inc lifted its stake in Boeing by 51.0% in the 4th quarter. Versant Capital Management Inc now owns 811 shares of the aircraft producer’s stock worth $143,000 after purchasing an additional 274 shares in the last quarter. Finally, GAMMA Investing LLC boosted its holdings in Boeing by 26.2% in the 4th quarter. GAMMA Investing LLC now owns 5,135 shares of the aircraft producer’s stock valued at $909,000 after purchasing an additional 1,066 shares during the period. Institutional investors own 64.82% of the company’s stock.

Boeing Company Profile

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.