Boeing Company (The) (BA) Lifted to Buy at Zacks Investment Research

Boeing Company (The) (NYSE:BA) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Tuesday. The firm presently has a $289.00 price objective on the aircraft producer’s stock. Zacks Investment Research‘s price target suggests a potential upside of 11.85% from the company’s current price.

According to Zacks, “Boeing's share has outperformed the industry's rally over the last one year. Boeing is the largest aircraft manufacturer in the world in terms of revenue, orders and deliveries, and one of the largest aerospace and defense contractors. The company’s 20-year market outlook, forecasts commercial jetliner demand to increase by 3.6%. The single-aisle jets are expected to be the major driver behind demand growth. Further, the company’s defense business stands out among its peers by virtue of its broadly diversified programs and strong order bookings. However, the company continues to face challenges from order cancellations, stiff competition as well as falling delivery numbers. Boeing’s 787 Dreamliner's deferred production cost also remains a cause of concern for the company. For its 747 model, weak demand for large commercial passenger and freighter aircraft also adds to the woes.”

A number of other research firms also recently issued reports on BA. Canaccord Genuity reissued a “hold” rating and issued a $215.00 price target (up from $200.00) on shares of Boeing Company (The) in a research note on Sunday, July 30th. Argus reaffirmed a “buy” rating and set a $270.00 target price on shares of Boeing Company (The) in a research note on Tuesday, August 1st. Buckingham Research raised shares of Boeing Company (The) from an “underperform” rating to a “neutral” rating in a research note on Friday, July 28th. Vetr raised shares of Boeing Company (The) from a “hold” rating to a “buy” rating and set a $253.33 target price on the stock in a research note on Monday, August 7th. Finally, Wells Fargo & Company reaffirmed a “market perform” rating on shares of Boeing Company (The) in a research note on Monday, July 10th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and thirteen have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $241.33.

Shares of Boeing Company (NYSE BA) traded up 0.33% during trading on Tuesday, reaching $259.25. 884,320 shares of the company’s stock were exchanged. Boeing Company has a 12-month low of $131.39 and a 12-month high of $259.93. The company has a 50 day moving average of $246.82 and a 200 day moving average of $210.28. The stock has a market cap of $153.24 billion, a P/E ratio of 22.71 and a beta of 1.21.

Boeing Company (The) (NYSE:BA) last released its quarterly earnings results on Wednesday, July 26th. The aircraft producer reported $2.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.32 by $0.23. The business had revenue of $22.74 billion for the quarter, compared to the consensus estimate of $22.97 billion. Boeing Company (The) had a net margin of 7.84% and a return on equity of 2,185.10%. The business’s revenue was down 8.1% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.44) EPS. Equities research analysts anticipate that Boeing Company will post $10.02 EPS for the current year.

TRADEMARK VIOLATION NOTICE: This news story was first reported by Community Financial News and is the property of of Community Financial News. If you are accessing this news story on another publication, it was copied illegally and reposted in violation of U.S. and international trademark and copyright laws. The legal version of this news story can be read at https://www.com-unik.info/2017/10/10/boeing-company-the-ba-lifted-to-buy-at-zacks-investment-research.html.

In related news, SVP Thomas J. Downey sold 134 shares of the stock in a transaction dated Monday, August 7th. The shares were 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 SEC, which is available through this hyperlink. Also, CFO Gregory D. Smith sold 19,757 shares of the stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $245.42, for a total transaction of $4,848,762.94. Following the completion of the sale, the chief financial officer now directly owns 152,195 shares in the company, valued at $37,351,696.90. The disclosure for this sale can be found here. Over the last three months, insiders sold 83,468 shares of company stock worth $20,353,814. 0.28% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Clear Perspective Advisors LLC grew its stake in Boeing Company (The) by 31.0% in the 2nd quarter. Clear Perspective Advisors LLC now owns 571 shares of the aircraft producer’s stock valued at $113,000 after acquiring an additional 135 shares during the last quarter. Proficio Capital Partners LLC grew its stake in Boeing Company (The) by 181.9% in the 1st quarter. Proficio Capital Partners LLC now owns 623 shares of the aircraft producer’s stock valued at $115,000 after acquiring an additional 402 shares during the last quarter. Vantage Investment Advisors LLC grew its stake in Boeing Company (The) by 11.1% in the 2nd quarter. Vantage Investment Advisors LLC now owns 841 shares of the aircraft producer’s stock valued at $123,000 after acquiring an additional 84 shares during the last quarter. MCF Advisors LLC grew its stake in Boeing Company (The) by 9.5% in the 1st quarter. MCF Advisors LLC now owns 712 shares of the aircraft producer’s stock valued at $126,000 after acquiring an additional 62 shares during the last quarter. Finally, SRS Capital Advisors Inc. grew its stake in Boeing Company (The) by 16.9% in the 1st quarter. SRS Capital Advisors Inc. now owns 742 shares of the aircraft producer’s stock valued at $131,000 after acquiring an additional 107 shares during the last quarter. 72.17% of the stock is currently owned by hedge funds and other institutional investors.

About Boeing Company (The)

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.

Analyst Recommendations for Boeing Company (The) (NYSE:BA)

What are top analysts saying about Boeing Company (The)? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Boeing Company (The) and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit