Boeing (NYSE:BA) Price Target Raised to $282.00

Key Points

• Analysts at Sanford C. Bernstein raised Boeing's price target from $249.00 to $282.00, indicating a potential upside of 29.35% from its previous close.
• Boeing's stock gained 1.3% during trading hours, reaching $218.01, as the company continues to receive positive ratings from various analysts.
• The company reported earnings per share of ($1.24), missing expectations, but achieved a revenue of $22.75 billion, up 34.9% compared to the previous year.

Boeing (NYSE:BA - Get Free Report) had its price objective upped by analysts at Sanford C. Bernstein from $249.00 to $282.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has an "outperform" rating on the aircraft producer's stock. Sanford C. Bernstein's price target would suggest a potential upside of 29.35% from the company's previous close.

A number of other equities analysts also recently commented on the company. Rothschild & Co Redburn upgraded Boeing from a "neutral" rating to a "buy" rating and set a $275.00 price objective on the stock in a report on Friday, June 27th. Citigroup reiterated a "buy" rating on shares of Boeing in a report on Monday, July 28th. Redburn Atlantic upgraded Boeing from a "hold" rating to a "strong-buy" rating and boosted their price objective for the company from $180.00 to $275.00 in a research report on Friday, June 27th. Susquehanna restated a "positive" rating and set a $270.00 price objective on shares of Boeing in a research report on Monday, September 15th. Finally, UBS Group set a $280.00 price objective on Boeing and gave the company a "buy" rating in a research report on Wednesday, July 30th. Three investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, three have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, Boeing currently has a consensus rating of "Moderate Buy" and an average price target of $233.91.

Boeing Stock Up 1.3%

Shares of BA traded up $2.81 during trading hours on Thursday, reaching $218.01. 4,198,868 shares of the company traded hands, compared to its average volume of 8,260,766. The stock has a market capitalization of $164.85 billion, a PE ratio of -13.22 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 $225.67 and a 200 day simple moving average of $204.00.

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

Insiders Place Their Bets

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

Institutional Trading of Boeing

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Kingstone Capital Partners Texas LLC acquired a new position in Boeing in the 2nd quarter valued at approximately $378,459,000. Vanguard Group Inc. raised its holdings in Boeing by 1.9% in the 1st quarter. Vanguard Group Inc. now owns 65,655,044 shares of the aircraft producer's stock valued at $11,197,468,000 after acquiring an additional 1,212,327 shares in the last quarter. Amundi raised its holdings in Boeing by 75.5% in the 2nd quarter. Amundi now owns 1,776,634 shares of the aircraft producer's stock valued at $376,700,000 after acquiring an additional 764,236 shares in the last quarter. Bessemer Group Inc. raised its holdings in Boeing by 3,581.5% in the 2nd quarter. Bessemer Group Inc. now owns 711,824 shares of the aircraft producer's stock valued at $149,149,000 after acquiring an additional 692,489 shares in the last quarter. Finally, Rovida Advisors Inc. acquired a new position in Boeing in the 2nd quarter valued at approximately $129,231,000. Institutional investors and hedge funds own 64.82% of the company's stock.

Boeing Company Profile

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.

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