3 ways to play Boeing's turbulence

It's been a challenging week for leading airplane maker Boeing. But CNBC's "Fast Money" traders possess a long-term view on the stock.

Shares of Boeing fell 12 percent this week after the company reported Thursday it was the target of a regulatory investigation into the program accounting of its 787 Dreamliner and 747 jumbo aircraft.

But here's what the traders are considering.

747 Lufthansa aircraft
Source: Boeing
747 Lufthansa aircraft

An SEC investigation is bottom of the list when it comes to concerns about Boeing, said trader David Seaburg, who defended the stock amid the pullback. A long-term investor since the mid-'90s, trader Steve Grasso contends that it's just slow global growth environment that's weighing on the stock.

But trader Tim Seymour finds something troubling about the stock: not the investigation, but the level of communication from the company. He said they need to have a more consistent message to investors.

To be sure, Boeing's not the only aviation industry company drawing the eye of "Fast Money" traders. Guy Adami has similar concerns about the credibility of Delta Air Lines, shares of which have dropped 15 percent so far this year.

For Adami, Boeing needs to go from its current share price of $108.63 to $120 — and he doesn't see that happening any time soon.

Disclosures

Tim Seymour

Tim Seymour is long AAPL, BAC, DO, F, FCX, GM, GOOGL, INTC, JCP, NKE, SINA, T, TWTR, VZ, XOM. Tim's firm is long BABA, BIDU, KO, MCD, PEP, SAVE, SBUX, VALE, WMT,YHOO, short HYG, IWM.

David Seaburg

Opinions expressed by David Seaburg are solely his own and do not reflect the views and opinions of Cowen Group, Inc

Steve Grasso

Steve is Long AAPL, AEO, BA, BAC, CC, DD, DIS, DECK, EVGN, KBH, MJNA, MU, OLN, PFE, PHM, T, TWTR, GDX firm is long AMZN, CXO, OXY, BP, CVX, RIG kids own EFA, EFG, EWJ, IJR, SPY

Guy Adami

Guy Adami is long CELG, EXAS, GDX, INTC, Guy Adami's wife, Linda Snow, works at Merck.