Boeing (NYSE:BA – Get Free Report)‘s stock had its “buy” rating reissued by research analysts at Bank of America in a research report issued to clients and investors on Friday, Benzinga reports. They currently have a $270.00 price target on the aircraft producer’s stock. Bank of America‘s price target suggests a potential upside of 36.18% from the stock’s previous close.
BA has been the subject of several other reports. Royal Bank Of Canada dropped their target price on Boeing from $275.00 to $265.00 and set an “outperform” rating for the company in a research report on Wednesday, July 29th. Robert W. Baird set a $300.00 price objective on shares of Boeing in a report on Wednesday, July 29th. Argus upgraded shares of Boeing from a “hold” rating to a “buy” rating and set a $265.00 target price on the stock in a report on Tuesday, August 11th. UBS Group began coverage on shares of Boeing in a research note on Tuesday, August 11th. They issued a “buy” rating for the company. Finally, Cantor Fitzgerald lowered Boeing to a “neutral” rating in a research report on Tuesday, August 11th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, six have assigned a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $272.45.
Check Out Our Latest Stock Analysis on BA
Boeing Price Performance
Boeing (NYSE:BA – Get Free Report) last posted its quarterly earnings results on Tuesday, July 28th. The aircraft producer reported ($0.76) EPS for the quarter, missing the consensus estimate of ($0.34) by ($0.42). The company had revenue of $24.56 billion for the quarter, compared to analysts’ expectations of $24.26 billion. Boeing had a negative return on equity of 346.82% and a net margin of 2.41%.The firm’s revenue was up 8.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($1.24) EPS. Equities analysts forecast that Boeing will post -0.91 EPS for the current fiscal year.
Hedge Funds Weigh In On Boeing
Several institutional investors have recently added to or reduced their stakes in the stock. Newport Trust Company LLC increased its stake in shares of Boeing by 1.0% during the 4th quarter. Newport Trust Company LLC now owns 29,485,294 shares of the aircraft producer’s stock worth $6,401,847,000 after purchasing an additional 286,848 shares in the last quarter. Geode Capital Management LLC grew its holdings in Boeing by 3.2% during the 4th quarter. Geode Capital Management LLC now owns 17,025,435 shares of the aircraft producer’s stock valued at $3,679,592,000 after buying an additional 533,753 shares during the last quarter. Fisher Asset Management LLC increased its position in Boeing by 2.5% during the fourth quarter. Fisher Asset Management LLC now owns 5,640,900 shares of the aircraft producer’s stock worth $1,224,752,000 after buying an additional 135,860 shares in the last quarter. Jupiter Topco LLC purchased a new position in Boeing during the second quarter worth $911,878,000. Finally, Janus Henderson Group PLC raised its holdings in shares of Boeing by 43.1% in the fourth quarter. Janus Henderson Group PLC now owns 3,907,876 shares of the aircraft producer’s stock worth $840,204,000 after acquiring an additional 1,176,074 shares during the last quarter. Institutional investors and hedge funds own 64.82% of the company’s stock.
Trending Headlines about Boeing
Here are the key news stories impacting Boeing this week:
- Positive Sentiment: Boeing secured a record Korean Air order for 103 aircraft, reinforcing its commercial backlog and supporting longer-term revenue visibility. Korean Air finalizes record Boeing order for 103 jets
- Positive Sentiment: The FAA authorized Boeing to sell 35 additional 777F freighters after 2028, extending the 777 program’s commercial runway while the replacement 777-8F is not expected until around 2029. FAA waives emissions rules to let Boeing sell 35 additional 777F freighters
- Positive Sentiment: Bank of America said the selloff may be excessive, arguing Boeing’s turnaround will be uneven. Other coverage highlights potential upside from rising production, defense contracts, backlog conversion and improving cash generation, with analyst targets well above the current level. Boeing selloff overdone despite CEO’s production comments
- Neutral Sentiment: GE Aerospace offered a reassuring outlook regarding the engine fix for the 777X, but the aircraft still faces certification and timing uncertainties. GE Aerospace delivers crucial news for Boeing 777X investors
- Negative Sentiment: Ortberg’s comments on 737 MAX production delays are the primary catalyst for the decline. Slower output could defer deliveries, increase costs and delay cash-flow improvement; the 787 ramp and 777X certification are also facing headwinds. Boeing CEO says it is taking longer to stabilize 737 MAX output
- Negative Sentiment: Management tempered expectations for a major China order, saying Boeing did not receive the widely anticipated order for 200 aircraft. That removes a potential near-term catalyst. Boeing CEO tempers China order hopes
Boeing Company Profile
The Boeing Company is a global aerospace company that designs, manufactures and services commercial airplanes, military aircraft, satellites, space systems and other aerospace products. Its principal business areas include commercial airplanes, defense and security, and aftermarket services that support aircraft operations throughout their life cycles.
Boeing’s commercial portfolio includes the 737, 767, 777 and 787 families of jetliners, while its defense and space operations provide products and services for the U.S.
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