Boeing (NYSE:BA) Earns Sell (D-) Rating from Weiss Ratings

Key Points

• Boeing's stock has been reaffirmed with a "sell (D-)" rating by Weiss Ratings, while other research firms like Vertical Research and UBS Group have upgraded their ratings to "buy".
• The company reported a quarterly earnings miss with ($1.24) earnings per share, although revenue increased by 34.9% year-over-year.
• Boeing's stock saw a 1.5% increase on a recent trading day, closing at $221.13, despite the stock having a significant year-over-year range from a low of $128.88 to a high of $242.69.

Boeing (NYSE:BA - Get Free Report)'s stock had its "sell (d-)" rating reaffirmed by equities researchers at Weiss Ratings in a report issued on Friday,Weiss Ratings reports.

A number of other research firms have also weighed in on BA. Vertical Research upgraded shares of Boeing from a "hold" rating to a "buy" rating and boosted their price target for the stock from $242.00 to $270.00 in a research report on Monday, September 8th. UBS Group set a $280.00 price target on shares of Boeing and gave the stock a "buy" rating in a research report on Wednesday, July 30th. Morgan Stanley restated an "equal weight" rating on shares of Boeing in a research report on Monday, July 28th. KGI Securities upgraded shares of Boeing from a "hold" rating to a "strong-buy" rating in a research report on Thursday, July 24th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Boeing from $230.00 to $251.00 and gave the company an "overweight" rating in a report on Wednesday, July 30th. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, two have assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $242.32.

Boeing Stock Up 1.5%

Shares of NYSE BA traded up $3.36 during trading on Friday, hitting $221.13. The company had a trading volume of 5,212,614 shares, compared to its average volume of 8,162,378. The firm has a market capitalization of $167.21 billion, a price-to-earnings ratio of -13.39 and a beta of 1.47. Boeing has a fifty-two week low of $128.88 and a fifty-two week high of $242.69. The stock has a fifty day simple moving average of $221.97 and a two-hundred day simple moving average of $209.45.

Boeing (NYSE:BA - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The aircraft producer reported ($1.24) earnings per share for the quarter, missing analysts' consensus estimates of ($0.92) by ($0.32). The company had revenue of $22.75 billion for the quarter, compared to analysts' expectations of $20.13 billion. The company's revenue was up 34.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($2.90) EPS. On average, analysts anticipate that Boeing will post -2.58 earnings per share for the current year.

Insider Activity

In related news, Director Mortimer J. Buckley purchased 2,200 shares of Boeing stock in a transaction dated Tuesday, August 19th. The shares were acquired at an average cost of $226.10 per share, with a total value of $497,420.00. Following the purchase, the director owned 2,200 shares of the company's stock, valued at approximately $497,420. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP David Christopher Raymond sold 3,771 shares of the business's stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $229.94, for a total transaction of $867,103.74. Following the completion of the sale, the executive vice president directly owned 35,873 shares in the company, valued at $8,248,637.62. This trade represents a 9.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.09% of the company's stock.

Institutional Investors Weigh In On Boeing

Several large investors have recently added to or reduced their stakes in BA. Revolve Wealth Partners LLC purchased a new stake in Boeing during the 4th quarter worth approximately $201,000. GAMMA Investing LLC grew its position in Boeing by 13.9% during the 1st quarter. GAMMA Investing LLC now owns 5,851 shares of the aircraft producer's stock worth $998,000 after purchasing an additional 716 shares during the last quarter. Pure Financial Advisors LLC grew its position in Boeing by 43.0% during the 1st quarter. Pure Financial Advisors LLC now owns 9,430 shares of the aircraft producer's stock worth $1,608,000 after purchasing an additional 2,837 shares during the last quarter. Sequoia Financial Advisors LLC grew its position in Boeing by 35.0% during the 1st quarter. Sequoia Financial Advisors LLC now owns 33,436 shares of the aircraft producer's stock worth $5,702,000 after purchasing an additional 8,676 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. grew its position in Boeing by 101.1% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 13,929 shares of the aircraft producer's stock worth $2,376,000 after purchasing an additional 7,002 shares during the last quarter. 64.82% of the stock is owned by hedge funds and other institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.