Boeing (NYSE:BA) Stock Price Down 0.5% – Time to Sell?

Shares of The Boeing Company (NYSE:BA) traded down 0.5% during trading on Tuesday . The stock traded as low as $171.86 and last traded at $172.26. 3,867,132 shares changed hands during trading, a decline of 58% from the average session volume of 9,223,098 shares. The stock had previously closed at $173.17.

Analysts Set New Price Targets

A number of research firms have issued reports on BA. Robert W. Baird cut their target price on shares of Boeing from $240.00 to $200.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Jefferies Financial Group lowered their target price on Boeing from $270.00 to $240.00 and set a “buy” rating on the stock in a research note on Monday, September 23rd. Citigroup cut their price target on Boeing from $224.00 to $209.00 and set a “buy” rating for the company in a research note on Tuesday, October 15th. Susquehanna dropped their price objective on Boeing from $210.00 to $200.00 and set a “positive” rating on the stock in a report on Thursday, October 24th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $200.00 target price on shares of Boeing in a research report on Wednesday, October 30th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $190.11.

Boeing Stock Down 0.2 %

The business has a 50-day moving average price of $153.14 and a 200-day moving average price of $166.02. The firm has a market capitalization of $106.87 billion, a P/E ratio of -13.35 and a beta of 1.56.

Boeing (NYSE:BA) last announced its quarterly earnings data on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($10.34) by ($0.10). The firm had revenue of $17.84 billion for the quarter, compared to the consensus estimate of $17.81 billion. During the same period last year, the company posted ($3.26) EPS. The business’s quarterly revenue was down 1.5% on a year-over-year basis. As a group, sell-side analysts forecast that The Boeing Company will post -16.18 EPS for the current year.

Institutional Trading of Boeing

A number of large investors have recently bought and sold shares of the stock. Hobbs Group Advisors LLC bought a new position in shares of Boeing in the 2nd quarter valued at about $34,000. RPg Family Wealth Advisory LLC bought a new stake in Boeing during the 3rd quarter worth about $28,000. Kiely Wealth Advisory Group Inc. acquired a new stake in Boeing in the second quarter valued at $33,000. Cedar Wealth Management LLC bought a new position in Boeing in the 3rd quarter valued at about $30,000. Finally, Harel Insurance Investments & Financial Services Ltd. raised its position in shares of Boeing by 351.1% in the 2nd 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. 64.82% of the stock is currently owned by institutional investors.

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.