Boeing (NYSE:BA) Cut to Sell at Wall Street Zen

Wall Street Zen lowered shares of Boeing (NYSE:BA) from a hold rating to a sell rating in a research report report published on Saturday morning,Wall Street Zen reports.

Several other research firms also recently issued reports on BA. UBS Group reaffirmed a “buy” rating on shares of Boeing in a report on Tuesday, September 29th. The Goldman Sachs Group downgraded shares of Boeing from a “buy” rating to a “hold” rating in a report on Tuesday, August 11th. JPMorgan Chase & Co. reissued a “buy” rating on shares of Boeing in a research report on Sunday, September 27th. Argus upgraded shares of Boeing from a “hold” rating to a “buy” rating and set a $265.00 price target for the company in a report on Tuesday, August 11th. Finally, Sanford C. Bernstein lowered their price target on Boeing from $298.00 to $278.00 and set an “outperform” rating on the stock in a research report on Monday, October 12th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, three have given a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $266.96.

Boeing Stock Down 0.3%

Shares of Boeing stock opened at $187.78 on Friday. Boeing has a 12-month low of $176.77 and a 12-month high of $254.35. The company has a quick ratio of 0.33, a current ratio of 1.14 and a debt-to-equity ratio of 6.77. The stock has a 50 day moving average price of $201.13 and a two-hundred day moving average price of $218.67. The stock has a market capitalization of $148.41 billion, a P/E ratio of 81.29 and a beta of 1.26.

Boeing (NYSE:BA) last released its quarterly earnings results on Tuesday, July 28th. The aircraft producer reported ($0.76) EPS for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.42). Boeing had a net margin of 2.41% and a negative return on equity of 346.82%. The firm had revenue of $24.56 billion during the quarter, compared to the consensus estimate of $24.26 billion. During the same period in the prior year, the business earned ($1.24) EPS. The company’s revenue for the quarter was up 8.0% compared to the same quarter last year. Equities analysts expect that Boeing will post -1.08 earnings per share for the current year.

Institutional Investors Weigh In On Boeing

Several hedge funds have recently modified their holdings of BA. Highland Investment Advisors LLC bought a new position in shares of Boeing during the 2nd quarter worth about $26,000. Strategic Wealth Advisors LLC bought a new stake in shares of Boeing in the second quarter valued at about $27,000. Retirement Wealth Solutions LLC lifted its stake in shares of Boeing by 3,575.0% in the third quarter. Retirement Wealth Solutions LLC now owns 147 shares of the aircraft producer’s stock valued at $27,000 after buying an additional 143 shares during the period. Bell Investment Advisors Inc acquired a new stake in Boeing during the second quarter worth about $29,000. Finally, Security National Bank of SO Dak acquired a new stake in Boeing during the second quarter worth about $30,000. 64.82% of the stock is owned by institutional investors.

More Boeing News

Here are the key news stories impacting Boeing this week:

• Positive Sentiment: The FAA certification of Boeing’s 737 MAX 10 removes a significant regulatory overhang and could support future deliveries, customer confidence and the company’s commercial-aircraft backlog. Boeing’s 737 MAX-10 certification removes key overhang ahead of earnings
• Positive Sentiment: Boeing’s defense business received a boost from work on the FQ-42 Vengeance Collaborative Combat Aircraft, while broader military-drone demand and a large order backlog provide potential long-term growth catalysts. What Does Boeing Need To Prove After Its 777F Halt And Defense Win?
• Neutral Sentiment: Analysts expect Boeing to report another quarterly loss, although the loss is forecast to narrow. Investors will focus on aircraft deliveries, production rates, free cash flow, management’s outlook and whether recent wins represent a sustainable turnaround. Boeing forecast to post small quarterly loss despite recent wins
• Negative Sentiment: A supplier dispute halted 777 Freighter assembly for nearly two months and disrupted related 767 freighter and KC-46 tanker production. The stoppage raises concerns about near-term deliveries, revenue timing, costs and Boeing’s ability to convert its backlog into cash. Boeing’s 777 Freighter Line Has Been Idle for Two Months
• Negative Sentiment: Bearish technical patterns and expectations for another loss are limiting enthusiasm before the report. Investors are demanding clear evidence that production problems are easing and that Boeing can generate positive free cash flow. Boeing Q3 Preview

Boeing Company Profile

The Boeing Company (NYSE: BA) is a global aerospace company that designs, manufactures and supports commercial airplanes, military aircraft, satellites, space systems and related products and services. Its offerings serve airlines, government agencies, defense organizations and other customers worldwide.

Boeing operates through three principal business areas: Commercial Airplanes, which develops and produces passenger and cargo aircraft; Defense, Space & Security, which provides military aircraft, weapons systems, satellites and space-related platforms; and Global Services, which offers parts, maintenance, training, engineering and other lifecycle support.

Founded in 1916 by William Boeing, the company has grown into one of the world’s major aerospace manufacturers.