Boeing (NYSE:BA) Raised to Strong Sell at BNP Paribas

Boeing (NYSE:BA) was upgraded by investment analysts at BNP Paribas to a “strong sell” rating in a note issued to investors on Tuesday,Zacks.com reports.

Several other research firms have also issued reports on BA. KGI Securities raised Boeing from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 24th. Vertical Research upgraded shares of Boeing from a “hold” rating to a “buy” rating and raised their price target for the stock from $242.00 to $270.00 in a research report on Monday, September 8th. BNP Paribas Exane assumed coverage on shares of Boeing in a research report on Tuesday. They set an “underperform” rating and a $150.00 price objective for the company. Susquehanna dropped their price objective on shares of Boeing from $270.00 to $255.00 and set a “positive” rating on the stock in a research note on Wednesday, November 12th. Finally, JPMorgan Chase & Co. decreased their target price on Boeing from $251.00 to $240.00 and set an “overweight” rating for the company in a research note on Thursday, October 30th. Three research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, three have given a Hold rating and six have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $232.09.

Boeing Stock Performance

Shares of Boeing stock traded down $1.98 during trading on Tuesday, reaching $183.72. The company had a trading volume of 3,159,055 shares, compared to its average volume of 8,228,913. Boeing has a fifty-two week low of $128.88 and a fifty-two week high of $242.69. The firm’s fifty day moving average is $210.44 and its 200-day moving average is $214.79. The company has a market cap of $139.65 billion, a price-to-earnings ratio of -13.46 and a beta of 1.44.

Boeing (NYSE:BA) last announced its quarterly earnings data on Wednesday, October 29th. The aircraft producer reported ($7.47) earnings per share for the quarter, missing the consensus estimate of ($0.51) by ($6.96). The company had revenue of $23.27 billion during the quarter, compared to analysts’ expectations of $21.61 billion. During the same period in the prior year, the company posted ($10.44) earnings per share. The firm’s revenue was up 30.4% compared to the same quarter last year. On average, research analysts anticipate that Boeing will post -2.58 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Uma M. Amuluru sold 1,366 shares of the stock in a transaction that occurred on Thursday, November 6th. The shares were sold at an average price of $197.66, for a total value of $270,003.56. Following the completion of the transaction, the executive vice president directly owned 14,656 shares in the company, valued at $2,896,904.96. This trade represents a 8.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.09% of the stock is owned by insiders.

Institutional Investors Weigh In On Boeing

A number of institutional investors have recently added to or reduced their stakes in BA. Measured Wealth Private Client Group LLC acquired a new stake in shares of Boeing in the third quarter valued at $25,000. Harbor Asset Planning Inc. bought a new stake in Boeing in the second quarter worth about $25,000. Piscataqua Savings Bank lifted its holdings in Boeing by 1,712.5% in the 2nd quarter. Piscataqua Savings Bank now owns 145 shares of the aircraft producer’s stock valued at $30,000 after acquiring an additional 137 shares during the last quarter. Reyes Financial Architecture Inc. bought a new position in shares of Boeing during the 3rd quarter valued at about $32,000. Finally, Davis Capital Management bought a new position in shares of Boeing during the 3rd quarter valued at about $33,000. 64.82% of the stock is currently 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.