Barclays Reiterates $255.00 Price Target for Boeing (NYSE:BA)

Key Points

• Barclays raised Boeing's target price from $210.00 to $255.00, indicating a potential upside of 12.61% based on the current stock price.
• Institutional investors now hold 64.82% of Boeing's stock, with significant recent purchases increasing their positions.
• Boeing reported a loss of ($1.24) EPS for the last quarter, missing the consensus estimate of ($0.92) by ($0.32), despite a year-over-year revenue increase of 34.9%.

Boeing (NYSE:BA - Get Free Report) has been given a $255.00 price objective by stock analysts at Barclays in a report released on Tuesday, Marketbeat Ratings reports. The brokerage currently has an "overweight" rating on the aircraft producer's stock. Barclays's price target indicates a potential upside of 14.93% from the company's previous close.

Other analysts also recently issued research reports about the stock. Wall Street Zen downgraded shares of Boeing from a "hold" rating to a "sell" rating in a report on Saturday, May 17th. Cowen reiterated a "buy" rating on shares of Boeing in a research note on Wednesday, May 7th. Morgan Stanley reaffirmed an "equal weight" rating on shares of Boeing in a research note on Monday. Redburn Atlantic upgraded Boeing from a "hold" rating to a "strong-buy" rating and boosted their target price for the stock from $180.00 to $275.00 in a research report on Friday, June 27th. Finally, UBS Group increased their target price on shares of Boeing from $207.00 to $226.00 and gave the company a "buy" rating in a report on Friday, May 9th. Three investment analysts have rated the stock with a sell rating, three have given a hold rating, eighteen have issued a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $228.73.

Boeing Stock Performance

Shares of NYSE:BA traded down $3.98 during trading on Tuesday, reaching $221.87. The stock had a trading volume of 4,508,840 shares, compared to its average volume of 8,605,120. The firm's fifty day moving average is $214.47 and its 200 day moving average is $187.94. Boeing has a 52 week low of $128.88 and a 52 week high of $242.69. The stock has a market cap of $167.29 billion, a price-to-earnings ratio of -13.43 and a beta of 1.41.

Boeing (NYSE:BA - Get Free Report) last released its earnings results on Tuesday, July 29th. The aircraft producer reported ($1.24) earnings per share (EPS) 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 the consensus estimate of $20.13 billion. During the same quarter in the previous year, the firm earned ($2.90) EPS. The firm's revenue for the quarter was up 34.9% compared to the same quarter last year. On average, research analysts forecast that Boeing will post -2.58 earnings per share for the current fiscal year.

Insider Activity at Boeing

In other Boeing news, SVP Brendan J. Nelson sold 640 shares of the firm's stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $206.28, for a total transaction of $132,019.20. Following the sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Jeffrey S. Shockey sold 3,205 shares of Boeing stock in a transaction on Tuesday, May 13th. The shares were 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 approximately $4,161,472.31. This trade represents a 13.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 7,744 shares of company stock valued at $1,511,370. 0.09% of the stock is owned by company insiders.

Institutional Investors Weigh In On Boeing

Institutional investors have recently made changes to their positions in the stock. Leelyn Smith LLC increased its stake in shares of Boeing by 1.4% during the 2nd quarter. Leelyn Smith LLC now owns 22,841 shares of the aircraft producer's stock valued at $4,786,000 after acquiring an additional 311 shares during the last quarter. Pinnacle Wealth Management Group Inc. acquired a new position in shares of Boeing during the 2nd quarter valued at about $710,000. Sage Mountain Advisors LLC increased its stake in shares of Boeing by 42.9% during the 2nd quarter. Sage Mountain Advisors LLC now owns 4,407 shares of the aircraft producer's stock valued at $923,000 after acquiring an additional 1,322 shares during the last quarter. Lee Danner & Bass Inc. increased its position in Boeing by 2.3% during the 2nd quarter. Lee Danner & Bass Inc. now owns 28,723 shares of the aircraft producer's stock worth $6,018,000 after purchasing an additional 643 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. increased its position in Boeing by 2.3% during the 2nd quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,014,928 shares of the aircraft producer's stock worth $422,188,000 after purchasing an additional 46,180 shares in the last quarter. 64.82% of the stock is currently 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.