Boeing Company (The) (BA) Raised to Strong-Buy at Zacks Investment Research
Zacks Investment Research upgraded shares of Boeing Company (The) (NYSE:BA) from a hold rating to a strong-buy rating in a report issued on Tuesday morning. The brokerage currently has $271.00 target price on the aircraft producer’s stock.
According to Zacks, “Boeing is the largest aircraft manufacturer in the world in terms of revenue, orders and deliveries, and one of the largest aerospace and defense contractors. Demand for its commercial airplanes is on the rise due to a steady improvement in passenger and freight traffic. Recently, the company released 20-year market outlook, as per which it forecasts jetliner demand to increase by 3.6%. The single-aisle jets are expected to be the major driver behind demand growth. Further, the company’s defense business stands out among its peers by virtue of its broadly diversified programs, strong order bookings and order backlog. Boeing’s share price has outperformed the broader industry's price over the last one year. However, the company continues to face challenges from the uncertain fate of high-cost programs, order cancellations, stiff competition as well as falling delivery numbers.”
Other research analysts have also issued research reports about the company. Cowen and Company raised their price objective on Boeing Company (The) from $9.80 to $300.00 in a report on Wednesday, July 26th. TheStreet upgraded Boeing Company (The) from a c+ rating to a b rating in a report on Wednesday, July 26th. ValuEngine upgraded Boeing Company (The) from a hold rating to a buy rating in a report on Friday, June 2nd. Deutsche Bank AG lifted their price target on Boeing Company (The) from $205.00 to $210.00 and gave the stock a buy rating in a report on Friday, April 28th. Finally, Vetr upgraded Boeing Company (The) from a hold rating to a buy rating and set a $206.38 price target on the stock in a report on Thursday, June 29th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of Buy and a consensus price target of $232.08.
Boeing Company (NYSE BA) opened at 235.89 on Tuesday. Boeing Company has a one year low of $126.31 and a one year high of $246.49. The company has a market cap of $139.43 billion, a price-to-earnings ratio of 20.67 and a beta of 1.16. The stock has a 50 day moving average of $227.10 and a 200-day moving average of $194.29.
Boeing Company (The) (NYSE:BA) last announced its quarterly earnings data on Wednesday, July 26th. The aircraft producer reported $2.55 earnings per share for the quarter, beating analysts’ consensus estimates of $2.32 by $0.23. The company had revenue of $22.74 billion for the quarter, compared to analyst estimates of $22.97 billion. Boeing Company (The) had a return on equity of 2,185.10% and a net margin of 7.84%. The firm’s revenue for the quarter was down 8.1% on a year-over-year basis. During the same quarter last year, the firm posted ($0.44) EPS. On average, equities analysts predict that Boeing Company will post $9.99 EPS for the current fiscal year.
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The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Friday, August 11th will be paid a $1.42 dividend. This represents a $5.68 dividend on an annualized basis and a yield of 2.41%. The ex-dividend date of this dividend is Wednesday, August 9th. Boeing Company (The)’s dividend payout ratio is currently 49.74%.
In other Boeing Company (The) news, SVP Heidi B. Capozzi sold 4,217 shares of the business’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $241.51, for a total value of $1,018,447.67. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Thomas J. Downey sold 134 shares of the business’s stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $241.20, for a total value of $32,320.80. The disclosure for this sale can be found here. In the last quarter, insiders sold 83,468 shares of company stock valued at $20,353,814. 0.28% of the stock is owned by company insiders.
A number of large investors have recently modified their holdings of the stock. Lord Abbett & CO. LLC purchased a new stake in shares of Boeing Company (The) during the second quarter worth $17,402,000. Navellier & Associates Inc raised its position in Boeing Company (The) by 373.8% in the second quarter. Navellier & Associates Inc now owns 14,346 shares of the aircraft producer’s stock worth $2,837,000 after buying an additional 11,318 shares during the last quarter. Toronto Dominion Bank raised its position in Boeing Company (The) by 20.9% in the second quarter. Toronto Dominion Bank now owns 204,047 shares of the aircraft producer’s stock worth $40,346,000 after buying an additional 35,214 shares during the last quarter. Cookson Peirce & Co. Inc. raised its position in Boeing Company (The) by 4.8% in the second quarter. Cookson Peirce & Co. Inc. now owns 3,480 shares of the aircraft producer’s stock worth $688,000 after buying an additional 160 shares during the last quarter. Finally, EP Wealth Advisors LLC raised its position in Boeing Company (The) by 8.0% in the second quarter. EP Wealth Advisors LLC now owns 5,188 shares of the aircraft producer’s stock worth $1,026,000 after buying an additional 384 shares during the last quarter. Institutional investors own 74.44% of the company’s stock.
Boeing Company (The) Company Profile
The Boeing Company is an aerospace company. The Company’s segments include Commercial Airplanes; Defense, Space & Security (BDS), such as Boeing Military Aircraft (BMA), Network & Space Systems (N&SS) and Global Services & Support (GS&S), and Boeing Capital (BCC). The Commercial Airplanes segment develops, produces and markets commercial jet aircraft and provides related support services, to the commercial airline industry.
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