Cowen and Company Reaffirms Buy Rating for Boeing Company (The) (NYSE:BA)

Boeing Company (The) (NYSE:BA)‘s stock had its “buy” rating reissued by equities researchers at Cowen and Company in a note issued to investors on Monday, July 17th. They presently have a $255.00 target price on the aircraft producer’s stock. Cowen and Company’s target price would suggest a potential upside of 8.57% from the stock’s previous close.

A number of other equities research analysts also recently issued reports on the company. Vetr downgraded Boeing Company (The) from a “buy” rating to a “hold” rating and set a $202.94 price target for the company. in a research note on Thursday, June 15th. Zacks Investment Research downgraded Boeing Company (The) from a “buy” rating to a “hold” rating in a research note on Thursday, July 13th. ValuEngine upgraded Boeing Company (The) from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. Canaccord Genuity reiterated a “hold” rating and set a $170.00 price objective on shares of Boeing Company (The) in a research note on Sunday, July 9th. Finally, Robert W. Baird boosted their price objective on Boeing Company (The) from $208.00 to $240.00 and gave the company an “outperform” rating in a research note on Monday, July 10th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $228.31.

Boeing Company (NYSE:BA) traded up 0.86% during midday trading on Monday, reaching $234.88. 3,461,663 shares of the company’s stock traded hands. The firm has a market cap of $138.83 billion, a price-to-earnings ratio of 20.58 and a beta of 1.16. The stock’s 50 day moving average price is $217.15 and its 200 day moving average price is $189.10. Boeing Company has a 1-year low of $126.31 and a 1-year high of $246.49.

Boeing Company (The) (NYSE:BA) last issued its earnings results on Wednesday, July 26th. The aircraft producer reported $2.55 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.32 by $0.23. Boeing Company (The) had a return on equity of 2,185.10% and a net margin of 7.84%. The business had revenue of $22.74 billion during the quarter, compared to analyst estimates of $22.97 billion. During the same quarter in the previous year, the firm earned ($0.44) EPS. Boeing Company (The)’s revenue was down 8.1% on a year-over-year basis. Equities research analysts anticipate that Boeing Company will post $9.95 EPS for the current year.

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In related news, SVP Thomas J. Downey sold 134 shares of the company’s stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $241.20, for a total value of $32,320.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Gregory D. Smith sold 19,757 shares of the company’s stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $245.42, for a total value of $4,848,762.94. Following the completion of the sale, the chief financial officer now directly owns 152,195 shares of the company’s stock, valued at $37,351,696.90. The disclosure for this sale can be found here. Insiders have sold a total of 83,468 shares of company stock valued at $20,353,814 over the last three months. 0.28% of the stock is currently owned by insiders.

A number of hedge funds have recently bought and sold shares of the stock. Veritable L.P. increased its stake in Boeing Company (The) by 2.7% in the second quarter. Veritable L.P. now owns 22,432 shares of the aircraft producer’s stock valued at $4,436,000 after buying an additional 582 shares in the last quarter. Spears Abacus Advisors LLC acquired a new position in shares of Boeing Company (The) during the second quarter worth about $445,000. Evercore Wealth Management LLC increased its position in shares of Boeing Company (The) by 6.7% in the second quarter. Evercore Wealth Management LLC now owns 3,804 shares of the aircraft producer’s stock worth $753,000 after buying an additional 240 shares during the period. Ally Financial Inc. acquired a new position in shares of Boeing Company (The) during the second quarter worth about $2,966,000. Finally, Dimensional Fund Advisors LP increased its position in shares of Boeing Company (The) by 2.2% in the second quarter. Dimensional Fund Advisors LP now owns 1,425,813 shares of the aircraft producer’s stock worth $281,955,000 after buying an additional 30,471 shares during the period. 74.47% of the stock is owned by hedge funds and other institutional investors.

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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