With Boeing (NYSE: BA) stock down by nearly a third this year, it's natural that value investors will, at least, start considering buying in. Indeed, there's a compelling case for buying the stock because it still has a multiyear backlog and a significant business moat. Is it enough to make the stock a buy?

Boeing's path to recovery is intricately tied to its management's actions. Its ability to increase delivery rates on the 737 MAX and 787 and resolve the manufacturing quality issues will be crucial in turning the company's fortunes around.

However, that's not the only operational issue that needs addressing. The defense segment poses a challenge, as management needs to restore profitability to Boeing's defense, space, and security (BDS) segment while aiming for the medium-term target of high-single-digit profit margins.

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Source Fool.com