Boeing (NYSE:BA) Upgraded by Argus to Buy Rating

Key Points

• Argus upgraded Boeing to “Buy” from “Hold” and set a $265 price target, implying 13.75% upside. Analysts overall rate the stock “Moderate Buy,” with an average target of $272.58.
• Boeing’s shares opened at $232.97, while its latest quarterly results showed a $0.76-per-share loss versus expectations for a $0.34 loss; revenue of $24.56 billion exceeded estimates.
• The company is transferring Wisk Aero and related businesses to Archer for nearly a 20% Archer stake, retaining access to autonomous-flight technology but giving up direct ownership of its air-taxi operations.

Boeing (NYSE:BA - Get Free Report) was upgraded by equities research analysts at Argus from a "hold" rating to a "buy" rating in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has a $265.00 price objective on the aircraft producer's stock. Argus' target price suggests a potential upside of 13.75% from the company's current price.

BA has been the subject of several other reports. Btg Pactual set a $260.00 price target on shares of Boeing in a report on Tuesday, July 14th. Tigress Financial boosted their target price on shares of Boeing from $295.00 to $305.00 and gave the company a "buy" rating in a research report on Thursday, August 6th. Morgan Stanley increased their target price on shares of Boeing from $245.00 to $250.00 and gave the stock an "equal weight" rating in a research note on Thursday, April 23rd. Citigroup lifted their price target on shares of Boeing from $256.00 to $260.00 and gave the company a "buy" rating in a research note on Monday, May 18th. Finally, BNP Paribas Exane upgraded Boeing from an "underperform" rating to an "outperform" rating and raised their target price for the company from $230.00 to $300.00 in a research note on Monday, August 3rd. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $272.58.

Boeing Price Performance

Boeing stock opened at $232.97 on Tuesday. The company has a debt-to-equity ratio of 6.77, a quick ratio of 0.33 and a current ratio of 1.14. Boeing has a 52 week low of $176.77 and a 52 week high of $254.35. The stock has a market capitalization of $184.13 billion, a P/E ratio of 100.85 and a beta of 1.21. The stock has a fifty day moving average of $220.41 and a 200-day moving average of $223.33.

Boeing (NYSE:BA - Get Free Report) last released its earnings results on Tuesday, July 28th. The aircraft producer reported ($0.76) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.34) by ($0.42). The business had revenue of $24.56 billion during the quarter, compared to the consensus estimate of $24.26 billion. Boeing had a net margin of 2.41% and a negative return on equity of 346.82%. The business's revenue was up 8.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($1.24) EPS. On average, sell-side analysts expect that Boeing will post -0.88 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Bradley D. Tilden acquired 1,370 shares of the stock in a transaction dated Wednesday, May 20th. The stock was purchased at an average cost of $218.50 per share, with a total value of $299,345.00. Following the completion of the purchase, the director directly owned 1,370 shares in the company, valued at $299,345. This trade represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.10% of the company's stock.

Institutional Trading of Boeing

Institutional investors have recently made changes to their positions in the company. Revolve Wealth Partners LLC bought a new stake in Boeing in the 4th quarter worth about $201,000. Sivia Capital Partners LLC boosted its stake in shares of Boeing by 16.5% in the 2nd quarter. Sivia Capital Partners LLC now owns 1,529 shares of the aircraft producer's stock worth $320,000 after buying an additional 217 shares during the last quarter. AXA S.A. grew its holdings in shares of Boeing by 1,225.7% in the second quarter. AXA S.A. now owns 34,655 shares of the aircraft producer's stock valued at $7,261,000 after acquiring an additional 32,041 shares in the last quarter. Ieq Capital LLC increased its position in shares of Boeing by 243.8% during the second quarter. Ieq Capital LLC now owns 33,485 shares of the aircraft producer's stock valued at $7,016,000 after acquiring an additional 23,746 shares during the last quarter. Finally, Alliancebernstein L.P. lifted its holdings in Boeing by 4.2% during the second quarter. Alliancebernstein L.P. now owns 1,334,451 shares of the aircraft producer's stock worth $279,608,000 after acquiring an additional 53,736 shares during the period. Institutional investors own 64.82% of the company's stock.

Key Headlines Impacting Boeing

Here are the key news stories impacting Boeing this week:

• Positive Sentiment: Strategic monetization and equity upside: Boeing will transfer Wisk Aero, SkyGrid and Insitu to Archer in an all-stock transaction, receiving a stake of nearly 20% in Archer, plus board representation and warrants. The deal gives Boeing potential upside if Archer’s eVTOL business succeeds without requiring a large cash investment. Archer to acquire Boeing's Wisk and two subsidiaries for near 20% equity stake
• Positive Sentiment: Continued technology access: Boeing will retain access to Wisk’s autonomous-flight technology through a collaboration agreement, potentially allowing it to benefit from the technology while reducing the costs of owning and developing the business directly. Boeing sells eVTOL subsidiaries, takes stake in Archer
• Neutral Sentiment: Analyst sentiment remains favorable but not strongly bullish: Boeing received an average “Moderate Buy” recommendation, suggesting analysts see further potential but remain cautious given the company’s execution, leverage and profitability challenges. The Boeing Company Receives Average Recommendation of Moderate Buy from Analysts
• Negative Sentiment: Exit from air-taxi operations weighs on the narrative: Boeing is giving up direct ownership of Wisk and related air-taxi infrastructure, which may be viewed as a retreat from a potentially valuable growth market. Because the consideration is Archer equity rather than cash, the near-term financial benefit is less certain and depends on Archer’s future valuation and execution. Boeing Stock Slips After Revealing Plan to Sell Air Taxi Operations

Boeing Company Profile

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.

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