Boeing (NYSE:BA) Hits New 52-Week Low – Should You Sell?

The Boeing Company (NYSE:BA) reached a new 52-week low during mid-day trading on Wednesday . The company traded as low as $141.77 and last traded at $142.68, with a volume of 4097379 shares. The stock had previously closed at $145.17.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Stifel Nicolaus raised their target price on shares of Boeing from $230.00 to $235.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Boeing from $225.00 to $195.00 and set a “buy” rating on the stock in a report on Thursday, October 3rd. Citigroup decreased their price target on shares of Boeing from $224.00 to $209.00 and set a “buy” rating on the stock in a report on Tuesday, October 15th. Susquehanna decreased their price target on shares of Boeing from $210.00 to $200.00 and set a “positive” rating on the stock in a report on Thursday, October 24th. Finally, UBS Group reduced their target price on shares of Boeing from $215.00 to $195.00 and set a “buy” rating on the stock in a report on Thursday, October 24th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $190.37.

Boeing Stock Performance

The stock has a market cap of $85.39 billion, a P/E ratio of -10.71 and a beta of 1.57. The company’s 50 day moving average price is $154.03 and its 200-day moving average price is $169.89.

Boeing (NYSE:BA) last posted its quarterly earnings results on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share for the quarter, missing the consensus estimate of ($10.34) by ($0.10). The company had revenue of $17.84 billion for the quarter, compared to the consensus estimate of $17.81 billion. The business’s revenue for the quarter was down 1.5% compared to the same quarter last year. During the same period in the prior year, the firm posted ($3.26) EPS. On average, analysts forecast that The Boeing Company will post -16.09 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Boeing

Institutional investors and hedge funds have recently modified their holdings of the company. Hobbs Group Advisors LLC purchased a new stake in Boeing in the second quarter valued at approximately $34,000. RPg Family Wealth Advisory LLC bought a new position in Boeing in the 3rd quarter worth about $28,000. Kiely Wealth Advisory Group Inc. bought a new position in Boeing in the 2nd quarter worth about $33,000. Cedar Wealth Management LLC purchased a new position in Boeing in the 3rd quarter worth about $30,000. Finally, Harel Insurance Investments & Financial Services Ltd. raised its position in Boeing by 351.1% in the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 212 shares of the aircraft producer’s stock worth $39,000 after buying an additional 165 shares during the last quarter. 64.82% of the stock is owned by hedge funds and other 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.