Barclays Upgrades Boeing (NYSE:BA) to “Overweight”

Barclays upgraded shares of Boeing (NYSE:BA) from an equal weight rating to an overweight rating in a research note released on Monday morning, MarketBeat reports. Barclays currently has $210.00 price objective on the aircraft producer’s stock, up from their prior price objective of $190.00.

Several other research analysts also recently weighed in on the stock. The Goldman Sachs Group dropped their target price on shares of Boeing from $232.00 to $202.00 and set a “buy” rating for the company in a report on Tuesday, September 24th. Benchmark reiterated a “buy” rating and set a $250.00 target price on shares of Boeing in a research report on Thursday, October 24th. Northcoast Research upgraded Boeing from a “sell” rating to a “neutral” rating in a research note on Thursday, December 12th. Jefferies Financial Group reduced their price objective on shares of Boeing from $270.00 to $240.00 and set a “buy” rating on the stock in a research report on Monday, September 23rd. Finally, Sanford C. Bernstein lowered shares of Boeing from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $195.00 to $169.00 in a research report on Wednesday, October 30th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Boeing currently has an average rating of “Moderate Buy” and a consensus price target of $192.21.

Boeing Stock Performance

NYSE BA opened at $170.87 on Monday. The business’s fifty day moving average is $159.83 and its 200 day moving average is $165.30. The company has a market capitalization of $105.63 billion, a PE ratio of -13.25 and a beta of 1.52. Boeing has a fifty-two week low of $137.03 and a fifty-two week high of $233.85.

Boeing (NYSE:BA) last announced its quarterly earnings data on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($10.34) by ($0.10). The company had revenue of $17.84 billion during the quarter, compared to the consensus estimate of $17.81 billion. During the same period in the previous year, the business posted ($3.26) EPS. The company’s revenue for the quarter was down 1.5% compared to the same quarter last year. On average, sell-side analysts forecast that Boeing will post -16.18 EPS for the current year.

Institutional Trading of Boeing

Large investors have recently made changes to their positions in the stock. IMS Capital Management raised its position in Boeing by 0.4% in the second quarter. IMS Capital Management now owns 16,032 shares of the aircraft producer’s stock worth $2,759,000 after acquiring an additional 62 shares in the last quarter. Peoples Financial Services CORP. grew its stake in shares of Boeing by 0.8% during the 3rd quarter. Peoples Financial Services CORP. now owns 8,893 shares of the aircraft producer’s stock worth $1,352,000 after purchasing an additional 67 shares during the period. Altus Wealth Group LLC grew its stake in shares of Boeing by 5.7% during the 3rd quarter. Altus Wealth Group LLC now owns 1,325 shares of the aircraft producer’s stock worth $201,000 after purchasing an additional 71 shares during the period. Hancock Whitney Corp increased its holdings in shares of Boeing by 1.0% in the 2nd quarter. Hancock Whitney Corp now owns 7,582 shares of the aircraft producer’s stock valued at $1,380,000 after purchasing an additional 72 shares in the last quarter. Finally, Kowal Investment Group LLC lifted its stake in shares of Boeing by 4.3% in the third quarter. Kowal Investment Group LLC now owns 1,758 shares of the aircraft producer’s stock valued at $267,000 after purchasing an additional 72 shares during the period. 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.