Boeing (NYSE:BA) Shares Gap Up - Should You Buy?

Key Points

• Boeing shares experienced significant upward movement, opening at $223.36 after a previous close of $213.53, with a last traded price of $221.85 and a trading volume of over 8.5 million shares.
• Analysts have positively rated Boeing, with Bank of America raising its price target to $270 and three analysts giving it a "Strong Buy" rating, suggesting a strong market sentiment toward the company.
• Boeing reported a revenue increase of 34.9% year-over-year despite missing EPS estimates, signaling improvement in operational performance even while continuing to post losses.

Shares of The Boeing Company (NYSE:BA - Get Free Report) gapped up before the market opened on Friday . The stock had previously closed at $213.53, but opened at $223.36. Boeing shares last traded at $221.85, with a volume of 8,514,293 shares.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Bank of America raised their price objective on Boeing from $260.00 to $270.00 and gave the stock a "buy" rating in a report on Friday, August 1st. Sanford C. Bernstein restated an "outperform" rating on shares of Boeing in a report on Monday, July 14th. Citigroup restated a "buy" rating on shares of Boeing in a report on Monday, July 28th. The Goldman Sachs Group set a $212.00 target price on Boeing and gave the company a "buy" rating in a report on Thursday, June 12th. Finally, Jefferies Financial Group lifted their target price on Boeing from $230.00 to $250.00 and gave the company a "buy" rating in a report on Wednesday, June 4th. Three analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Boeing currently has an average rating of "Moderate Buy" and an average target price of $230.77.

Boeing Price Performance

The firm has a 50-day simple moving average of $226.69 and a 200 day simple moving average of $202.38. The company has a market capitalization of $167.52 billion, a PE ratio of -13.44 and a beta of 1.48.

Boeing (NYSE:BA - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The aircraft producer reported ($1.24) EPS for the quarter, missing the consensus estimate of ($0.92) by ($0.32). The business had revenue of $22.75 billion during the quarter, compared to the consensus estimate of $20.13 billion. During the same quarter in the previous year, the business earned ($2.90) earnings per share. Boeing's revenue for the quarter was up 34.9% compared to the same quarter last year. Equities research analysts expect that The Boeing Company will post -2.58 EPS for the current fiscal year.

Insider Activity

In other Boeing news, Director Mortimer J. Buckley purchased 2,200 shares of the business's stock in a transaction that occurred on Tuesday, August 19th. The shares were acquired at an average price of $226.10 per share, for a total transaction of $497,420.00. Following the completion of the purchase, the director owned 2,200 shares in the company, valued at $497,420. The trade was a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP David Christopher Raymond sold 3,771 shares of the business's stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $229.94, for a total value of $867,103.74. Following the completion of the transaction, the executive vice president owned 35,873 shares in the company, valued at approximately $8,248,637.62. This trade represents a 9.51% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.09% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Caldwell Trust Co acquired a new position in shares of Boeing in the second quarter worth about $216,000. Silicon Valley Capital Partners increased its holdings in Boeing by 40.9% in the second quarter. Silicon Valley Capital Partners now owns 1,378 shares of the aircraft producer's stock valued at $289,000 after buying an additional 400 shares during the last quarter. NWF Advisory Services Inc. increased its holdings in Boeing by 67.3% in the second quarter. NWF Advisory Services Inc. now owns 5,333 shares of the aircraft producer's stock valued at $1,117,000 after buying an additional 2,146 shares during the last quarter. PVG Asset Management Corp bought a new stake in Boeing in the second quarter valued at about $367,000. Finally, Evolution Wealth Management Inc. bought a new stake in Boeing in the second quarter valued at about $58,000. Institutional investors and hedge funds 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.

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