Boeing Co. (BA) Stock Rating Upgraded by Zacks Investment Research
Boeing Co. (NYSE:BA) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Wednesday. The firm currently has a $147.00 price objective on the aircraft producer’s stock. Zacks Investment Research’s price target would suggest a potential upside of 12.19% from the stock’s previous close.
According to Zacks, “Boeing is the largest aircraft manufacturer in the world in terms of revenues, orders and deliveries, and is one of the largest defense contractors. Boeing’s recently released China Current Market Outlook estimates a $1.03 trillion market in the country for new commercial airplanes over the next 20 years. Further Boeing sold 28 wide-body jets to Saudi Arabian Airlines, for a total deal value of $8 billion. These developments reflect this company’s latest expansion in the international front, apart from the strong foray it already enjoys in the domestic aviation market. Meanwhile, defense budget request for fiscal 2017 includes major programs that will aid Boeing in registering higher top-line growth. That said, it continues to face challenges such as declining backlog, uncertainty surrounding high-cost programs, lower delivery numbers, risks related to key project executions, order cancellations as well as stiff competition.”
Several other analysts have also recently commented on the stock. Credit Suisse Group AG reissued a “neutral” rating and set a $148.00 price target on shares of Boeing in a research note on Friday, September 23rd. Jefferies Group reissued a “buy” rating and set a $165.00 price target on shares of Boeing in a research note on Thursday, September 22nd. Citigroup Inc. decreased their price target on shares of Boeing from $168.00 to $160.00 and set a “buy” rating on the stock in a research note on Monday, September 19th. Vetr raised shares of Boeing from a “sell” rating to a “hold” rating and set a $126.07 price target on the stock in a research note on Wednesday, August 31st. Finally, Goldman Sachs Group Inc. set a $107.00 price objective on shares of Boeing and gave the company a “sell” rating in a report on Tuesday, August 30th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and thirteen have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $147.18.
Boeing (NYSE:BA) opened at 131.03 on Wednesday. Boeing has a 12-month low of $102.10 and a 12-month high of $150.59. The stock has a market capitalization of $81.74 billion, a PE ratio of 23.59 and a beta of 1.06. The stock’s 50 day moving average is $131.56 and its 200 day moving average is $131.01.
Boeing (NYSE:BA) last released its quarterly earnings results on Wednesday, July 27th. The aircraft producer reported ($0.44) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.92) by $0.48. Boeing had a net margin of 3.84% and a return on equity of 82.66%. The business had revenue of $24.80 million for the quarter, compared to analysts’ expectations of $23.22 million. During the same period in the prior year, the firm earned $1.62 earnings per share. Boeing’s revenue was up .9% compared to the same quarter last year. Analysts forecast that Boeing will post $6.29 EPS for the current year.
In other news, SVP Diana L. Sands sold 14,151 shares of the firm’s stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $133.06, for a total transaction of $1,882,932.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Randall L. Stephenson bought 1,871 shares of the business’s stock in a transaction dated Monday, August 1st. The shares were bought at an average price of $133.89 per share, with a total value of $250,508.19. Following the purchase, the director now owns 3,721 shares in the company, valued at approximately $498,204.69. The disclosure for this purchase can be found here. Insiders own 0.58% of the company’s stock.
Several hedge funds have recently bought and sold shares of the company. Capital World Investors boosted its stake in shares of Boeing by 8.8% in the second quarter. Capital World Investors now owns 47,676,799 shares of the aircraft producer’s stock valued at $6,191,786,000 after buying an additional 3,866,637 shares during the period. Capital Research Global Investors boosted its stake in shares of Boeing by 15.8% in the second quarter. Capital Research Global Investors now owns 19,728,620 shares of the aircraft producer’s stock valued at $2,562,156,000 after buying an additional 2,690,120 shares during the period. Geode Capital Management LLC boosted its stake in shares of Boeing by 5.8% in the first quarter. Geode Capital Management LLC now owns 5,524,347 shares of the aircraft producer’s stock valued at $699,957,000 after buying an additional 304,674 shares during the period. Franklin Resources Inc. boosted its stake in shares of Boeing by 67.9% in the first quarter. Franklin Resources Inc. now owns 4,906,313 shares of the aircraft producer’s stock valued at $622,808,000 after buying an additional 1,984,650 shares during the period. Finally, BlackRock Group LTD boosted its stake in shares of Boeing by 5.9% in the first quarter. BlackRock Group LTD now owns 4,481,880 shares of the aircraft producer’s stock valued at $568,928,000 after buying an additional 248,233 shares during the period. Institutional investors own 75.46% of the company’s stock.
Boeing Company Profile
The Boeing Company is an aerospace firm. The Company operates in five segments: Commercial airplanes; Defense, Space & Security (BDS) business, such as Boeing Military Aircraft (BMA), Network & Space Systems (N&SS) and Global Services & Support (GS&S), and Boeing Capital (BCC). Its Commercial Airplanes segment develops, produces and markets commercial jet aircraft, which provides related support services to the commercial airline industry.
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