Boeing (NYSE:BA) Stock Price Up 2.2% – Still a Buy?

The Boeing Company (NYSE:BA) shares traded up 2.2% during trading on Monday. The stock traded as high as $177.37 and last traded at $175.3350. Approximately 9,248,291 shares were traded during trading, an increase of 29% from the average daily volume of 7,144,196 shares. The stock had previously closed at $171.55.

Boeing News Summary

Here are the key news stories impacting Boeing this week:

• Positive Sentiment: Avolon finalized an order for 140 Boeing 737-10 jets, a record 737 MAX purchase by a lessor. The deal lifts Avolon’s 737 MAX backlog above 240 aircraft and underscores demand for Boeing’s single-aisle jets. Avolon Finalizes Order for 140 Boeing 737-10 Jets
• Positive Sentiment: Two Boeing directors bought about $1.51 million of shares after the recent earnings report: Mortimer Buckley purchased 5,820 shares and Steven Mollenkopf bought 2,950. The insider buying may signal confidence in the company’s recovery, although it does not guarantee improved results. Boeing Chairman and Former Vanguard CEO Buy $1.51 Million in Stock
• Neutral Sentiment: Coverage described a mixed day for Boeing, with fuel-tank inspection concerns counterbalanced by new orders. The available report details do not specify the scope or likely financial impact of the inspections. Fuel Tank Inspections, New Orders Send Boeing Stock Rising
• Negative Sentiment: Boeing’s recovery still faces execution risks: its 737 MAX production ramp has been pushed back, while Emirates has voiced concern about the delayed 777X. Further schedule setbacks could postpone deliveries and revenue. Boeing Stock Slips as Emirates Gets Concerned

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on BA shares. TD Cowen lowered their target price on Boeing from $240.00 to $210.00 and set a “buy” rating on the stock in a research note on Wednesday, October 28th. Argus upgraded Boeing from a “hold” rating to a “buy” rating and set a $265.00 price target for the company in a research note on Tuesday, August 11th. UBS Group decreased their price target on Boeing from $275.00 to $240.00 and set a “buy” rating for the company in a report on Wednesday, October 28th. Bank of America reiterated a “buy” rating and issued a $270.00 price objective on shares of Boeing in a research report on Friday, September 18th. Finally, Wells Fargo & Company dropped their price objective on shares of Boeing from $250.00 to $210.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 28th. One analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, eight have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, Boeing has a consensus rating of “Moderate Buy” and an average target price of $247.88.

Boeing Stock Up 2.1%

The company has a quick ratio of 0.34, a current ratio of 1.13 and a debt-to-equity ratio of 6.31. The firm has a fifty day moving average price of $193.91 and a 200 day moving average price of $216.17.

Boeing (NYSE:BA) last announced its quarterly earnings data on Tuesday, October 27th. The aircraft producer reported ($0.34) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.09). The business had revenue of $24.19 billion for the quarter, compared to analyst estimates of $23.95 billion. Boeing had a negative return on equity of 42.40% and a net margin of 7.98%. The company’s revenue was up 3.9% on a year-over-year basis. During the same period in the prior year, the company earned ($7.47) EPS. As a group, research analysts forecast that The Boeing Company will post -1.72 EPS for the current fiscal year.

Insider Transactions at Boeing

In related news, Director Steven Mollenkopf purchased 2,950 shares of the business’s stock in a transaction dated Friday, October 30th. The stock was acquired at an average price of $173.03 per share, for a total transaction of $510,438.50. Following the acquisition, the director directly owned 6,717 shares of the company’s stock, valued at $1,162,242.51. This trade represents a 78.31% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mortimer Buckley acquired 5,820 shares of Boeing stock in a transaction that occurred on Friday, October 30th. The stock was bought at an average price of $171.55 per share, with a total value of $998,421.00. Following the purchase, the director directly owned 10,250 shares of the company’s stock, valued at approximately $1,758,387.50. This trade represents a 131.38% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Company insiders own 0.10% of the company’s stock.

Institutional Investors Weigh In On Boeing

Several institutional investors have recently modified their holdings of BA. Jupiter Topco LLC purchased a new position in shares of Boeing in the second quarter valued at $911,878,000. Bank of New York Mellon Corp purchased a new stake in shares of Boeing in the 2nd quarter worth about $747,763,000. Legal & General Group Plc purchased a new stake in shares of Boeing in the 2nd quarter worth about $710,816,000. Deutsche Bank AG purchased a new stake in shares of Boeing in the 2nd quarter worth about $539,456,000. Finally, Swiss National Bank grew its stake in Boeing by 7.6% in the 1st quarter. Swiss National Bank now owns 2,298,077 shares of the aircraft producer’s stock valued at $457,386,000 after acquiring an additional 163,000 shares during the last quarter. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Boeing Company Profile

The Boeing Company (NYSE: BA) is a global aerospace company that designs, manufactures and supports commercial airplanes, military aircraft, satellites, space systems and related products and services. Its offerings serve airlines, government agencies, defense organizations and other customers worldwide.

Boeing operates through three principal business areas: Commercial Airplanes, which develops and produces passenger and cargo aircraft; Defense, Space & Security, which provides military aircraft, weapons systems, satellites and space-related platforms; and Global Services, which offers parts, maintenance, training, engineering and other lifecycle support.

Founded in 1916 by William Boeing, the company has grown into one of the world’s major aerospace manufacturers.