Boeing (NYSE:BA) Stock Price Expected to Rise, Bank of America Analyst Says

Key Points

• Bank of America has raised its price target for Boeing from $260 to $270, reflecting a potential upside of 21.69% from the current share price. This comes alongside a "buy" rating for the stock.
• Other analysts, including Susquehanna and JPMorgan, have also increased their price targets for Boeing, indicating a general positive sentiment toward the company's stock.
• Boeing's latest earnings report revealed a decline in earnings per share of ($1.24), missing estimates, but also showed significant revenue growth of 34.9% year-over-year.

Boeing (NYSE:BA - Get Free Report) had its target price increased by investment analysts at Bank of America from $260.00 to $270.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has a "buy" rating on the aircraft producer's stock. Bank of America's target price would indicate a potential upside of 21.65% from the stock's previous close.

A number of other equities analysts have also recently issued reports on the company. KGI Securities upgraded Boeing from a "hold" rating to a "strong-buy" rating in a report on Thursday, July 24th. UBS Group set a $280.00 price objective on Boeing and gave the company a "buy" rating in a research note on Wednesday. Royal Bank Of Canada reissued an "outperform" rating and set a $250.00 price objective on shares of Boeing in a report on Wednesday. Citigroup reiterated a "buy" rating on shares of Boeing in a research report on Monday, July 28th. Finally, Susquehanna upped their price target on Boeing from $265.00 to $270.00 and gave the stock a "positive" rating in a research note on Wednesday. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating, seventeen have given a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $228.90.

Boeing Price Performance

BA traded up $0.10 on Friday, hitting $221.94. 8,556,620 shares of the stock were exchanged, compared to its average volume of 7,665,790. The firm has a market capitalization of $167.82 billion, a price-to-earnings ratio of -13.44 and a beta of 1.48. Boeing has a 12 month low of $128.88 and a 12 month high of $242.69. The business has a 50-day moving average of $215.23 and a two-hundred day moving average of $188.83.

Boeing (NYSE:BA - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The aircraft producer reported ($1.24) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.92) by ($0.32). The firm had revenue of $22.75 billion during the quarter, compared to the consensus estimate of $20.13 billion. Boeing's revenue for the quarter was up 34.9% compared to the same quarter last year. During the same period in the prior year, the company earned ($2.90) earnings per share. Equities research analysts expect that Boeing will post -2.58 earnings per share for the current fiscal year.

Insider Activity

In other Boeing news, EVP Jeffrey S. Shockey sold 3,205 shares of the firm's stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $202.87, for a total transaction of $650,198.35. Following the completion of the transaction, the executive vice president owned 20,513 shares in the company, valued at $4,161,472.31. This trade represents a 13.51% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Brendan J. Nelson sold 640 shares of Boeing stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $206.28, for a total value of $132,019.20. Following the completion of the transaction, the senior vice president owned 13,258 shares of the company's stock, valued at approximately $2,734,860.24. This trade represents a 4.60% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.09% of the company's stock.

Institutional Trading of Boeing

Large investors have recently added to or reduced their stakes in the company. Revolve Wealth Partners LLC acquired a new stake in shares of Boeing in the fourth quarter valued at approximately $201,000. Bank Pictet & Cie Europe AG acquired a new stake in shares of Boeing during the fourth quarter worth about $7,837,000. Schroder Investment Management Group increased its position in Boeing by 3.0% in the 4th quarter. Schroder Investment Management Group now owns 63,105 shares of the aircraft producer's stock valued at $11,141,000 after acquiring an additional 1,853 shares during the period. World Investment Advisors increased its position in Boeing by 62.4% during the 4th quarter. World Investment Advisors now owns 8,741 shares of the aircraft producer's stock worth $1,547,000 after purchasing an additional 3,360 shares during the period. Finally, Arete Wealth Advisors LLC increased its position in Boeing by 29.2% during the 4th quarter. Arete Wealth Advisors LLC now owns 9,363 shares of the aircraft producer's stock worth $1,656,000 after purchasing an additional 2,117 shares during the period. 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.