Boeing (NYSE:BA) Upgraded by Northcoast Research to “Neutral” Rating

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

Several other equities research analysts also recently issued reports on the company. Benchmark reiterated a “buy” rating and issued a $250.00 price objective on shares of Boeing in a report on Thursday, October 24th. Citigroup lowered their price objective on shares of Boeing from $224.00 to $209.00 and set a “buy” rating for the company in a research note on Tuesday, October 15th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $200.00 target price on shares of Boeing in a research note on Wednesday, October 30th. Wells Fargo & Company dropped their price target 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. Finally, Robert W. Baird reduced their price objective on Boeing from $240.00 to $200.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $190.11.

Boeing Stock Up 1.1 %

NYSE BA opened at $167.79 on Thursday. Boeing has a 12 month low of $137.03 and a 12 month high of $267.54. The firm’s 50-day moving average is $152.49 and its two-hundred day moving average is $166.16.

Boeing (NYSE:BA) last posted its quarterly earnings data on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share for the quarter, missing analysts’ consensus estimates 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 business’s revenue for the quarter was down 1.5% compared to the same quarter last year. During the same period in the prior year, the firm earned ($3.26) earnings per share. On average, equities analysts anticipate that Boeing will post -16.18 EPS for the current year.

Institutional Investors Weigh In On Boeing

A number of institutional investors and hedge funds have recently made changes to their positions in BA. Denver PWM LLC raised its stake in shares of Boeing by 728.9% during the third quarter. Denver PWM LLC now owns 5,487 shares of the aircraft producer’s stock worth $834,000 after purchasing an additional 4,825 shares during the last quarter. Inspire Trust Co. N.A. increased its stake in Boeing by 81.0% in the 3rd quarter. Inspire Trust Co. N.A. now owns 10,500 shares of the aircraft producer’s stock valued at $1,596,000 after buying an additional 4,700 shares during the period. Franklin Resources Inc. raised its position in Boeing by 1,296.3% during the 3rd quarter. Franklin Resources Inc. now owns 1,136,895 shares of the aircraft producer’s stock worth $169,386,000 after buying an additional 1,055,472 shares during the last quarter. Tidal Investments LLC lifted its stake in shares of Boeing by 2.1% in the 3rd quarter. Tidal Investments LLC now owns 38,230 shares of the aircraft producer’s stock worth $5,812,000 after acquiring an additional 804 shares during the period. Finally, Wilmington Savings Fund Society FSB boosted its holdings in shares of Boeing by 290.0% in the third quarter. Wilmington Savings Fund Society FSB now owns 17,053 shares of the aircraft producer’s stock valued at $2,593,000 after acquiring an additional 12,680 shares in the last quarter. 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.