Wells Fargo & Company Issues Positive Forecast for Boeing (NYSE:BA) Stock Price

Boeing (NYSE:BA) had its price target increased by analysts at Wells Fargo & Company from $103.00 to $113.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has an “underweight” rating on the aircraft producer’s stock. Wells Fargo & Company‘s price target suggests a potential downside of 30.06% from the company’s previous close.

Other equities research analysts have also recently issued reports about the company. JPMorgan Chase & Co. upped their price target on Boeing from $190.00 to $200.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. Citigroup upped their price target on Boeing from $207.00 to $210.00 and gave the company a “buy” rating in a research report on Monday, February 10th. Northcoast Research upgraded Boeing from a “sell” rating to a “neutral” rating in a research report on Thursday, December 12th. Susquehanna upped their price target on Boeing from $200.00 to $205.00 and gave the company a “positive” rating in a research report on Wednesday, January 29th. Finally, StockNews.com upgraded Boeing to a “sell” rating in a research report on Wednesday, March 12th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $195.68.

Boeing Stock Down 0.2 %

NYSE BA opened at $161.57 on Monday. The company has a market cap of $121.19 billion, a PE ratio of -8.82 and a beta of 1.53. Boeing has a 52 week low of $137.03 and a 52 week high of $196.95. The firm’s 50-day simple moving average is $172.83 and its two-hundred day simple moving average is $163.41.

Boeing (NYSE:BA) last released its quarterly earnings data on Tuesday, January 28th. The aircraft producer reported ($5.90) EPS for the quarter, missing the consensus estimate of ($1.60) by ($4.30). During the same quarter last year, the firm earned ($0.47) EPS. As a group, equities research analysts anticipate that Boeing will post -2.58 EPS for the current year.

Insider Activity

In related news, EVP Uma M. Amuluru sold 3,159 shares of the firm’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $180.69, for a total value of $570,799.71. Following the completion of the sale, the executive vice president now owns 19,213 shares of the company’s stock, valued at $3,471,596.97. This trade represents a 14.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.16% of the company’s stock.

Institutional Trading of Boeing

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BA. Assetmark Inc. lifted its stake in Boeing by 65.2% in the third quarter. Assetmark Inc. now owns 1,057 shares of the aircraft producer’s stock worth $161,000 after acquiring an additional 417 shares during the period. Empowered Funds LLC raised its holdings in Boeing by 3.5% in the third quarter. Empowered Funds LLC now owns 15,006 shares of the aircraft producer’s stock worth $2,282,000 after purchasing an additional 505 shares in the last quarter. Claro Advisors LLC raised its holdings in Boeing by 203.2% in the third quarter. Claro Advisors LLC now owns 4,585 shares of the aircraft producer’s stock worth $697,000 after purchasing an additional 3,073 shares in the last quarter. Aljian Capital Management LLC bought a new position in Boeing in the third quarter worth $256,000. Finally, First Western Trust Bank bought a new position in Boeing in the third quarter worth $261,000. Hedge funds and other institutional investors own 64.82% of the company’s stock.

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.