Boeing (NYSE:BA) Upgraded to “Overweight” at Barclays

Barclays upgraded shares of Boeing (NYSE:BA) from an equal weight rating to an overweight rating in a report issued on Monday, Marketbeat Ratings reports. The firm currently has $210.00 target price on the aircraft producer’s stock, up from their previous target price of $190.00.

Several other equities analysts have also recently issued reports on BA. DZ Bank cut Boeing from a “buy” rating to a “hold” rating and set a $152.00 target price on the stock. in a research report on Tuesday, October 15th. Morgan Stanley cut their price target on shares of Boeing from $195.00 to $170.00 and set an “equal weight” rating for the company in a report on Thursday, October 24th. Jefferies Financial Group lowered their target price on shares of Boeing from $270.00 to $240.00 and set a “buy” rating on the stock in a research report on Monday, September 23rd. UBS Group reduced their price target on shares of Boeing from $215.00 to $195.00 and set a “buy” rating for the company in a research report on Thursday, October 24th. Finally, Benchmark restated a “buy” rating and issued a $250.00 price target on shares of Boeing in a report on Thursday, October 24th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Boeing has an average rating of “Moderate Buy” and a consensus price target of $192.21.

Boeing Stock Performance

Shares of BA opened at $172.04 on Monday. The company has a market capitalization of $106.36 billion, a price-to-earnings ratio of -13.34 and a beta of 1.52. Boeing has a fifty-two week low of $137.03 and a fifty-two week high of $231.61. The firm has a 50-day simple moving average of $160.58 and a 200-day simple moving average of $165.32.

Boeing (NYSE:BA) last issued its quarterly earnings results on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share for the quarter, missing the consensus estimate of ($10.34) by ($0.10). The company had revenue of $17.84 billion during the quarter, compared to analysts’ expectations of $17.81 billion. Boeing’s revenue for the quarter was down 1.5% on a year-over-year basis. During the same period in the previous year, the company posted ($3.26) earnings per share. Equities research analysts forecast that Boeing will post -16.18 EPS for the current year.

Institutional Investors Weigh In On Boeing

A number of institutional investors have recently added to or reduced their stakes in the company. RPg Family Wealth Advisory LLC acquired a new stake in Boeing in the third quarter valued at approximately $28,000. Kiely Wealth Advisory Group Inc. acquired a new position in Boeing in the 2nd quarter worth $33,000. Cedar Wealth Management LLC purchased a new position in Boeing in the 3rd quarter valued at about $30,000. Meeder Asset Management Inc. grew its stake in shares of Boeing by 325.4% during the second quarter. Meeder Asset Management Inc. now owns 302 shares of the aircraft producer’s stock valued at $55,000 after acquiring an additional 231 shares in the last quarter. Finally, Fairscale Capital LLC purchased a new stake in shares of Boeing during the second quarter worth about $59,000. Hedge funds and other institutional investors own 64.82% of the company’s stock.

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.