Boeing (NYSE:BA) Upgraded to Outperform at Sanford C. Bernstein

Boeing (NYSE:BA - Get Free Report) was upgraded by equities research analysts at Sanford C. Bernstein from a "market perform" rating to an "outperform" rating in a note issued to investors on Monday, MarketBeat Ratings reports. The firm currently has a $218.00 price objective on the aircraft producer's stock, up from their previous price objective of $181.00. Sanford C. Bernstein's price objective indicates a potential upside of 18.98% from the stock's previous close.

A number of other brokerages have also recently issued reports on BA. Benchmark lowered their price objective on Boeing from $250.00 to $215.00 and set a "buy" rating for the company in a research note on Monday, April 21st. Deutsche Bank Aktiengesellschaft upped their target price on shares of Boeing from $184.00 to $215.00 and gave the stock a "buy" rating in a research note on Thursday, January 2nd. Morgan Stanley lifted their target price on Boeing from $175.00 to $185.00 and gave the stock an "equal weight" rating in a report on Thursday, April 24th. Royal Bank of Canada reiterated an "outperform" rating and issued a $200.00 price objective on shares of Boeing in a report on Wednesday, April 23rd. Finally, Melius raised shares of Boeing from a "hold" rating to a "buy" rating in a report on Monday, March 24th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $200.90.

Boeing Stock Performance

Shares of BA traded up $1.22 on Monday, reaching $183.22. The stock had a trading volume of 6,254,686 shares, compared to its average volume of 9,048,370. The firm has a market capitalization of $138.15 billion, a price-to-earnings ratio of -10.00 and a beta of 1.24. The company has a 50-day simple moving average of $164.82 and a 200-day simple moving average of $165.16. Boeing has a 12-month low of $128.88 and a 12-month high of $196.95.

Boeing (NYSE:BA - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The aircraft producer reported ($0.49) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($1.39) by $0.90. The business had revenue of $19.50 billion for the quarter, compared to analysts' expectations of $19.57 billion. During the same period last year, the business earned ($1.13) earnings per share. The company's revenue was up 17.7% on a year-over-year basis. On average, analysts expect that Boeing will post -2.58 EPS for the current fiscal year.

Insider Buying and Selling

In other news, EVP Uma M. Amuluru sold 3,159 shares of the stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $180.69, for a total transaction of $570,799.71. Following the completion of the sale, the executive vice president now owns 19,213 shares in the company, valued at approximately $3,471,596.97. This represents a 14.12 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.09% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Sierra Ocean LLC purchased a new position in shares of Boeing in the 4th quarter valued at approximately $26,000. Sugar Maple Asset Management LLC acquired a new position in shares of Boeing in the fourth quarter valued at about $27,000. American National Bank & Trust raised its position in Boeing by 474.1% during the 1st quarter. American National Bank & Trust now owns 155 shares of the aircraft producer's stock worth $26,000 after buying an additional 128 shares during the last quarter. Fiduciary Advisors Inc. acquired a new stake in Boeing during the 4th quarter valued at approximately $28,000. Finally, HighMark Wealth Management LLC boosted its holdings in shares of Boeing by 121.6% in the 4th quarter. HighMark Wealth Management LLC now owns 164 shares of the aircraft producer's stock valued at $29,000 after acquiring an additional 90 shares during the last quarter. 64.82% of the stock is owned by institutional investors and hedge funds.

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.