Boeing (NYSE:BA) Stock Rating Upgraded by Argus

Key Points

• Argus has upgraded Boeing to a "hold" while the analyst consensus remains a Moderate Buy with a $247.39 average price target; several firms updated targets recently, including JPMorgan raising its target to $270 and maintaining an "overweight" view.
• Boeing beat quarterly expectations, reporting $9.92 EPS (vs. a -$0.40 estimate) and $23.95B in revenue (up 57.1% YoY), though analysts still forecast -2.58 EPS for the current year.
• Shares opened at $233.04 (1‑year range $128.88–$254.35) with a market cap of about $177.1B, a P/E around 115.9, and roughly 64.8% of the stock held by institutional investors.

Boeing (NYSE:BA - Get Free Report) was upgraded by equities researchers at Argus to a "hold" rating in a research note issued on Monday,Zacks.com reports.

Several other equities research analysts also recently weighed in on the stock. New Street Research set a $257.00 price target on shares of Boeing in a research note on Tuesday, December 9th. Loop Capital set a $223.00 target price on Boeing in a research report on Monday, November 3rd. JPMorgan Chase & Co. increased their price target on Boeing from $245.00 to $270.00 and gave the stock an "overweight" rating in a report on Wednesday, January 28th. Tigress Financial reaffirmed a "buy" rating and set a $275.00 target price on shares of Boeing in a research report on Monday, December 29th. Finally, Zacks Research upgraded Boeing from a "strong sell" rating to a "hold" rating in a report on Tuesday, December 2nd. Two research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, four have assigned a Hold rating and four have given a Sell rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $247.39.

Boeing Stock Down 0.3%

Shares of NYSE:BA opened at $233.04 on Monday. Boeing has a 1 year low of $128.88 and a 1 year high of $254.35. The company has a debt-to-equity ratio of 8.37, a current ratio of 1.19 and a quick ratio of 0.40. The business's 50-day moving average is $220.70 and its 200-day moving average is $218.73. The company has a market capitalization of $177.13 billion, a price-to-earnings ratio of 115.94, a P/E/G ratio of 12.18 and a beta of 1.15.

Boeing (NYSE:BA - Get Free Report) last issued its earnings results on Tuesday, January 27th. The aircraft producer reported $9.92 earnings per share for the quarter, topping analysts' consensus estimates of ($0.40) by $10.32. The business had revenue of $23.95 billion during the quarter, compared to the consensus estimate of $22.41 billion. The company's revenue for the quarter was up 57.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($5.90) earnings per share. Equities research analysts predict that Boeing will post -2.58 earnings per share for the current year.

Insider Activity

In other news, EVP Uma M. Amuluru sold 1,366 shares of the stock in a transaction dated Thursday, November 6th. The shares were sold at an average price of $197.66, for a total value of $270,003.56. Following the completion of the sale, the executive vice president owned 14,656 shares in the company, valued at $2,896,904.96. This represents a 8.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Dana S. Deasy purchased 554 shares of the business's stock in a transaction that occurred on Monday, November 24th. The shares were purchased at an average price of $178.88 per share, for a total transaction of $99,099.52. Following the completion of the acquisition, the senior vice president owned 28,442 shares of the company's stock, valued at $5,087,704.96. The trade was a 1.99% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 0.09% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Measured Wealth Private Client Group LLC purchased a new stake in Boeing during the third quarter worth about $25,000. Harbor Asset Planning Inc. purchased a new stake in shares of Boeing during the 2nd quarter worth approximately $25,000. Ares Financial Consulting LLC bought a new stake in shares of Boeing in the 4th quarter worth approximately $26,000. Kohmann Bosshard Financial Services LLC purchased a new position in Boeing in the fourth quarter valued at approximately $28,000. Finally, American National Bank & Trust grew its holdings in Boeing by 124.2% during the fourth quarter. American National Bank & Trust now owns 139 shares of the aircraft producer's stock valued at $30,000 after purchasing an additional 77 shares during the period. Hedge funds and other institutional investors own 64.82% of the company's stock.

About Boeing

Boeing Company NYSE: BA is an American multinational corporation that designs, manufactures and services commercial airplanes, defense systems, and space and security technologies. Founded in 1916 by William E. Boeing in Seattle, the company today operates as an integrated aerospace and defense contractor with a global customer base. Boeing relocated its corporate headquarters to Arlington, Virginia in 2022 and maintains extensive engineering, manufacturing and service operations across the United States and around the world.

Boeing's principal lines of business include Commercial Airplanes, which produces and supports a range of jetliners used by airlines globally; Defense, Space & Security, which develops military aircraft, rotorcraft, surveillance and reconnaissance systems, satellites, and launch and missile systems; and Boeing Global Services, which provides aftermarket maintenance, training, spare parts, digital analytics and logistics support.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.