Boeing (NYSE:BA) Upgraded to Neutral at Northcoast Research

Northcoast Research upgraded shares of Boeing (NYSE:BA) from a sell rating to a neutral rating in a report published on Thursday, MarketBeat reports.

Other equities research analysts have also issued reports about the company. Citigroup decreased their price target on Boeing from $224.00 to $209.00 and set a “buy” rating on the stock in a research report on Tuesday, October 15th. Jefferies Financial Group decreased their target price on Boeing from $270.00 to $240.00 and set a “buy” rating on the stock in a report on Monday, September 23rd. UBS Group cut their price target on Boeing from $215.00 to $195.00 and set a “buy” rating for the company in a report on Thursday, October 24th. Morgan Stanley decreased their price objective on shares of Boeing from $195.00 to $170.00 and set an “equal weight” rating on the stock in a report on Thursday, October 24th. Finally, Wells Fargo & Company dropped their target price on shares of Boeing from $86.00 to $85.00 and set an “underweight” rating for the company in a research note on Monday, November 4th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Boeing presently has a consensus rating of “Hold” and a consensus target price of $190.11.

Boeing Stock Performance

Shares of NYSE BA opened at $169.65 on Thursday. Boeing has a 52-week low of $137.03 and a 52-week high of $267.54. The business has a fifty day moving average of $152.79 and a two-hundred day moving average of $166.06. The stock has a market cap of $104.88 billion, a PE ratio of -13.15 and a beta of 1.56.

Boeing (NYSE:BA) last announced its quarterly earnings results on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share (EPS) for the quarter, missing the consensus estimate of ($10.34) by ($0.10). The company had revenue of $17.84 billion for the quarter, compared to analysts’ expectations of $17.81 billion. The firm’s revenue was down 1.5% compared to the same quarter last year. During the same period in the prior year, the company earned ($3.26) earnings per share. Analysts predict that Boeing will post -16.18 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. RPg Family Wealth Advisory LLC acquired a new position in shares of Boeing during the 3rd quarter worth about $28,000. Cedar Wealth Management LLC acquired a new position in Boeing during the third quarter valued at approximately $30,000. Kiely Wealth Advisory Group Inc. bought a new position in Boeing in the second quarter valued at approximately $33,000. Hobbs Group Advisors LLC acquired a new position in shares of Boeing during the 2nd quarter worth approximately $34,000. Finally, Harel Insurance Investments & Financial Services Ltd. raised its stake in shares of Boeing by 351.1% during the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 212 shares of the aircraft producer’s stock worth $39,000 after purchasing an additional 165 shares in the last quarter. 64.82% of the stock is owned by institutional investors and hedge funds.

About Boeing

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.