Boeing (NYSE:BA) Stock Price Up 2.8% - Time to Buy?

Key Points

• Boeing shares rose 2.8% to about $210.57, though trading volume was 37% below the average daily level.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $272.58, despite recent downgrades from several firms.
• Boeing missed quarterly earnings expectations, reporting a loss of $0.76 per share versus the $0.34 expected, while its high debt-to-equity ratio of 6.77 highlights ongoing financial risk.

The Boeing Company (NYSE:BA - Get Free Report)'s share price shot up 2.8% during trading on Friday . The stock traded as high as $211.62 and last traded at $210.5660. 4,123,438 shares were traded during trading, a decline of 37% from the average daily volume of 6,582,826 shares. The stock had previously closed at $204.80.

Analysts Set New Price Targets

BA has been the topic of a number of research analyst reports. Cantor Fitzgerald downgraded shares of Boeing to a "neutral" rating in a research report on Tuesday, August 11th. Royal Bank Of Canada decreased their target price on shares of Boeing from $275.00 to $265.00 and set an "outperform" rating for the company in a research note on Wednesday, July 29th. Robert W. Baird set a $300.00 price target on Boeing in a report on Wednesday, July 29th. Barclays downgraded Boeing from an "equal weight" rating to an "underweight" rating in a research note on Tuesday, August 11th. Finally, Wolfe Research lowered Boeing from an "outperform" rating to a "hold" rating in a report on Tuesday, August 11th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, six have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $272.58.

Boeing Trading Up 2.8%

The company has a quick ratio of 0.33, a current ratio of 1.14 and a debt-to-equity ratio of 6.77. The firm has a market capitalization of $166.43 billion, a PE ratio of 91.15 and a beta of 1.21. The stock's fifty day simple moving average is $218.81 and its 200 day simple moving average is $219.27.

Boeing (NYSE:BA - Get Free Report) last issued its quarterly earnings results on Tuesday, July 28th. The aircraft producer reported ($0.76) earnings per share for the quarter, missing the consensus estimate of ($0.34) by ($0.42). The business had revenue of $24.56 billion for the quarter, compared to analysts' expectations of $24.26 billion. Boeing had a negative return on equity of 346.82% and a net margin of 2.41%.The company's revenue was up 8.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($1.24) EPS. On average, sell-side analysts predict that The Boeing Company will post -0.9 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in BA. Measured Wealth Private Client Group LLC bought a new stake in Boeing during the 3rd quarter worth approximately $25,000. Strive Financial Group LLC bought a new position in shares of Boeing in the fourth quarter worth approximately $25,000. Highland Investment Advisors LLC bought a new position in shares of Boeing in the second quarter worth approximately $26,000. CrossGen Wealth LLC purchased a new stake in shares of Boeing in the fourth quarter worth $26,000. Finally, 1 North Wealth Services LLC purchased a new stake in shares of Boeing in the fourth quarter worth $27,000. Institutional investors own 64.82% of the company's stock.

About Boeing

The Boeing Company is a global aerospace company that designs, manufactures and services commercial airplanes, military aircraft, satellites, space systems and other aerospace products. Its principal business areas include commercial airplanes, defense and security, and aftermarket services that support aircraft operations throughout their life cycles.

Boeing's commercial portfolio includes the 737, 767, 777 and 787 families of jetliners, while its defense and space operations provide products and services for the U.S.

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