Price Action Alert: Is Boeing Co a Buy? The Stock Reaches 52-Week High Today

Price Action Alert: Is Boeing Co a Buy? The Stock Reaches 52 Week High Today

The stock of Boeing Co (NYSE:BA) hit a new 52-week high and has $157.63 target or 4.00% above today’s $151.57 share price. The 6 months bullish chart indicates low risk for the $93.38 billion company. The 1-year high was reported on Nov, 29 by Barchart.com. If the $157.63 price target is reached, the company will be worth $3.74 billion more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 1.59 million shares traded hands. Boeing Co (NYSE:BA) has risen 12.41% since April 26, 2016 and is uptrending. It has outperformed by 7.15% the S&P500.

Analysts await Boeing Co (NYSE:BA) to report earnings on January, 25. They expect $2.32 earnings per share, up 45.00% or $0.72 from last year’s $1.6 per share. BA’s profit will be $1.43 billion for 16.33 P/E if the $2.32 EPS becomes a reality. After $3.51 actual earnings per share reported by Boeing Co for the previous quarter, Wall Street now forecasts -33.90% negative EPS growth.

Boeing Co (NYSE:BA) Ratings Coverage

Out of 14 analysts covering Boeing (NYSE:BA), 7 rate it a “Buy”, 2 “Sell”, while 5 “Hold”. This means 50% are positive. $180 is the highest target while $125 is the lowest. The $152 average target is 0.28% above today’s ($151.57) stock price. Boeing has been the topic of 24 analyst reports since August 26, 2015 according to StockzIntelligence Inc. The rating was maintained by RBC Capital Markets with “Sector Perform” on Thursday, September 3. Buckingham Research upgraded the shares of BA in a report on Thursday, February 18 to “Neutral” rating. The rating was maintained by Cowen & Co on Thursday, September 17 with “Outperform”. The rating was downgraded by Bank of America on Wednesday, April 20 to “Underperform”. Standpoint Research downgraded Boeing Co (NYSE:BA) rating on Wednesday, October 26. Standpoint Research has “Sell” rating and $125 price target. The stock of Boeing Co (NYSE:BA) earned “Buy” rating by Citigroup on Monday, September 19. The rating was maintained by RBC Capital Markets with “Sector Perform” on Friday, February 12. Standpoint Research downgraded Boeing Co (NYSE:BA) on Monday, November 2 to “Hold” rating. The stock of Boeing Co (NYSE:BA) has “Neutral” rating given on Friday, February 12 by JP Morgan. The stock of Boeing Co (NYSE:BA) earned “Market Perform” rating by Wells Fargo on Friday, December 18.

According to Zacks Investment Research, “The Boeing Company is one of the world’s major aerospace firms. The company operates in three principal segments: commercial airplanes; military aircraft and missiles; and space and communications.”

Insitutional Activity: The institutional sentiment increased to 0.9 in Q2 2016. Its up 0.19, from 0.71 in 2016Q1. The ratio improved, as 88 funds sold all Boeing Co shares owned while 523 reduced positions. 59 funds bought stakes while 373 increased positions. They now own 456.77 million shares or 9.02% less from 502.06 million shares in 2016Q1.
State Street last reported 0.37% of its portfolio in the stock. Umb Bancorp N A Mo holds 0.81% or 147,847 shares in its portfolio. Rh Dinel Invest Counsel Incorporated has 20,900 shares for 3.18% of their US portfolio. The Massachusetts-based Babson Mgmt Ltd Liability Co has invested 0.19% in Boeing Co (NYSE:BA). Moreover, Ally Fincl Incorporated has 0.54% invested in Boeing Co (NYSE:BA) for 25,000 shares. Burke Herbert Fincl Bank Trust owns 6,782 shares or 0.8% of their US portfolio. Winton Cap Group Ltd last reported 216,143 shares in the company. Moreover, Kempner Management has 3.64% invested in Boeing Co (NYSE:BA) for 43,681 shares. Beck Cap Management Lc last reported 0.55% of its portfolio in the stock. Catawba Management Va has 0.73% invested in the company for 23,177 shares. Cibc Ww Mkts Inc last reported 0.02% of its portfolio in the stock. Eagleclaw Capital Managment Llc accumulated 2.23% or 25,835 shares. Deutsche Bancshares Ag, a Germany-based fund reported 3.05 million shares. Moreover, Bnp Paribas Arbitrage has 0.05% invested in Boeing Co (NYSE:BA) for 83,032 shares. Moreover, Budros Ruhlin And Roe Inc has 0.3% invested in Boeing Co (NYSE:BA) for 6,894 shares.

Insider Transactions: Since August 1, 2016, the stock had 1 insider buy, and 7 selling transactions for $45.29 million net activity. 14,151 shares were sold by Sands Diana L, worth $1.88M on Monday, August 1. The insider Smith Gregory D sold $2.87M. Verbeck Robert E sold $519,008 worth of stock or 3,894 shares. 51,024 shares were sold by Muilenburg Dennis A, worth $7.25M on Tuesday, November 1. LUTTIG J MICHAEL also sold $28.60 million worth of Boeing Co (NYSE:BA) on Monday, October 31. STEPHENSON RANDALL L also bought $250,508 worth of Boeing Co (NYSE:BA) shares. $1.96 million worth of Boeing Co (NYSE:BA) was sold by Conner Raymond L. on Friday, November 4.

More notable recent Boeing Co (NYSE:BA) news were published by: Marketwatch.com which released: “Boeing benefited from an illegal tax break, WTO says” on November 28, 2016, also Foxbusiness.com with their article: “Boeing Co. Gets Serious About Services” published on November 22, 2016, Reuters.com published: “BRIEF-Boeing Co issues statement on WTO ruling on Washington state tax inc…” on November 28, 2016. More interesting news about Boeing Co (NYSE:BA) were released by: Fool.com and their article: “5 Things Boeing Co. Management Wants You to Know” published on November 01, 2016 as well as Latimes.com‘s news article titled: “Boeing will move 1600 Huntington Beach jobs to Los Angeles County” with publication date: November 15, 2016.

BA Company Profile

The Boeing Company, incorporated on July 19, 1934, is an aerospace firm. The Firm operates in five divisions: Commercial airplanes; Defense, Space & Security (BDS), such as Boeing Military Aircraft (BMA), Network & Space Systems (N&SS) and Global Services & Support (GS&S), and Boeing Capital (BCC). The Company’s unallocated activities are Engineering, Operations & Technology (EO&T) and Shared Services Group (SSG). The Company’s EO&T provides Boeing with technical and functional capabilities, which include information technology, research and development, test and evaluation, technology strategy development, environmental remediation management and intellectual property management.

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