Boeing (NYSE:BA) Upgraded at Vertical Research

Key Points

• Boeing was upgraded from a "hold" to a "buy" rating by Vertical Research, with an increased price target of $270.00, suggesting a potential upside of 17.11% from the previous close.
• Bank of America and Susquehanna also raised their price targets to $270.00, while the consensus rating for Boeing remains a "Moderate Buy" with an average target price of $230.77.
• Despite reporting a larger-than-expected loss of ($1.24) earnings per share, Boeing posted a revenue of $22.75 billion for the quarter, exceeding consensus estimates by $2.62 billion.

Boeing (NYSE:BA - Get Free Report) was upgraded by research analysts at Vertical Research from a "hold" rating to a "buy" rating in a research report issued on Monday, Marketbeat.com reports. The firm currently has a $270.00 price objective on the aircraft producer's stock, up from their previous price objective of $242.00. Vertical Research's price target would indicate a potential upside of 16.94% from the stock's previous close.

BA has been the topic of several other research reports. TD Securities lowered shares of Boeing to a "cautious" rating in a report on Thursday, May 22nd. Wells Fargo & Company reissued an "underweight" rating on shares of Boeing in a report on Thursday, May 22nd. Morgan Stanley reissued an "equal weight" rating on shares of Boeing in a report on Monday, July 28th. Sanford C. Bernstein reaffirmed an "outperform" rating on shares of Boeing in a report on Monday, July 14th. Finally, Wall Street Zen lowered shares of Boeing from a "hold" rating to a "sell" rating in a report on Saturday, May 17th. Three analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat, Boeing has a consensus rating of "Moderate Buy" and an average price target of $230.77.

Boeing Price Performance

Shares of Boeing stock opened at $230.89 on Monday. The firm has a market capitalization of $174.59 billion, a PE ratio of -13.99 and a beta of 1.48. The company's fifty day moving average price is $227.96 and its two-hundred day moving average price is $198.26. Boeing has a 52-week low of $128.88 and a 52-week high of $242.69.

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

Insider Activity

In related news, EVP David Christopher Raymond sold 3,771 shares of the company's stock in a transaction dated Friday, August 8th. The shares were 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 $8,248,637.62. This represents a 9.51% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Mortimer J. Buckley purchased 2,200 shares of Boeing stock in a transaction that occurred on Tuesday, August 19th. The shares were bought at an average price of $226.10 per share, for a total transaction of $497,420.00. Following the transaction, the director owned 2,200 shares in the company, valued at $497,420. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.09% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in BA. Revolve Wealth Partners LLC acquired a new position in Boeing during the 4th quarter worth about $201,000. Bank Pictet & Cie Europe AG acquired a new position in Boeing during the 4th quarter worth about $7,837,000. Triumph Capital Management lifted its position in Boeing by 12.8% during the 4th quarter. Triumph Capital Management now owns 9,557 shares of the aircraft producer's stock worth $1,692,000 after buying an additional 1,084 shares in the last quarter. Ethic Inc. lifted its position in Boeing by 51.5% during the 4th quarter. Ethic Inc. now owns 8,655 shares of the aircraft producer's stock worth $1,532,000 after buying an additional 2,942 shares in the last quarter. Finally, Investor s Fiduciary Advisor Network LLC acquired a new position in Boeing during the 4th quarter worth about $263,000. 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.