Boeing (NYSE:BA) Raised to “Neutral” at Northcoast Research

Boeing (NYSE:BA) was upgraded by analysts at Northcoast Research from a “sell” rating to a “neutral” rating in a note issued to investors on Thursday, Marketbeat reports.

Other equities research analysts have also issued research reports about the company. Citigroup reduced their price target on Boeing from $224.00 to $209.00 and set a “buy” rating on the stock in a research report on Tuesday, October 15th. Wells Fargo & Company decreased their target price on shares of Boeing from $86.00 to $85.00 and set an “underweight” rating for the company in a research report on Monday, November 4th. TD Cowen reduced their price objective on shares of Boeing from $200.00 to $190.00 and set a “buy” rating on the stock in a research note on Monday, October 14th. UBS Group lowered their target price on shares of Boeing from $215.00 to $195.00 and set a “buy” rating for the company in a research note on Thursday, October 24th. Finally, Robert W. Baird cut their price target on shares of Boeing from $240.00 to $200.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Boeing has a consensus rating of “Hold” and an average price target of $190.11.

Boeing Stock Up 1.1 %

BA opened at $169.63 on Thursday. The company has a 50-day simple moving average of $152.49 and a 200 day simple moving average of $166.16. The stock has a market capitalization of $104.87 billion, a price-to-earnings ratio of -13.01 and a beta of 1.56. Boeing has a twelve month low of $137.03 and a twelve month high of $267.54.

Boeing (NYSE:BA) last posted its earnings results on Wednesday, October 23rd. The aircraft producer reported ($10.44) EPS for the quarter, missing analysts’ consensus estimates of ($10.34) by ($0.10). The firm had revenue of $17.84 billion for the quarter, compared to analysts’ expectations of $17.81 billion. The company’s revenue was down 1.5% on a year-over-year basis. During the same period in the prior year, the business earned ($3.26) earnings per share. Sell-side analysts anticipate that Boeing will post -16.18 EPS for the current fiscal year.

Hedge Funds Weigh In On Boeing

Several hedge funds have recently bought and sold shares of the company. RPg Family Wealth Advisory LLC bought a new stake in shares of Boeing during the 3rd quarter valued at about $28,000. Cedar Wealth Management LLC purchased a new stake in Boeing in the third quarter valued at approximately $30,000. Kiely Wealth Advisory Group Inc. bought a new stake in Boeing during the second quarter valued at approximately $33,000. Hobbs Group Advisors LLC purchased a new position in Boeing in the 2nd quarter worth approximately $34,000. Finally, Harel Insurance Investments & Financial Services Ltd. raised its position in shares of Boeing by 351.1% during the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 212 shares of the aircraft producer’s stock valued at $39,000 after buying an additional 165 shares in the last quarter. 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.