Boeing (NYSE:BA) Given a $280.00 Price Target by UBS Group Analysts

Key Points

• UBS Group has raised its price target for Boeing from $255.00 to $280.00, indicating a potential upside of 23.33% from the stock's last closing price.
• The company reported a quarterly loss of ($1.24) earnings per share, which was worse than analysts' expectations, despite achieving $22.75 billion in revenue, surpassing forecasts of $20.13 billion.
• Currently, Boeing holds a consensus rating of "Moderate Buy" with 18 buy ratings, 3 hold ratings, and 3 sell ratings from analysts.

UBS Group set a $280.00 price target on Boeing (NYSE:BA - Free Report) in a research report released on Wednesday, MarketBeat Ratings reports. The firm currently has a buy rating on the aircraft producer's stock.

Several other brokerages have also weighed in on BA. Cowen reissued a "buy" rating on shares of Boeing in a report on Wednesday, May 7th. Jefferies Financial Group upped their price objective on shares of Boeing from $230.00 to $250.00 and gave the company a "buy" rating in a research note on Wednesday, June 4th. Citigroup reaffirmed a "buy" rating on shares of Boeing in a research note on Monday. KGI Securities upgraded Boeing from a "hold" rating to a "strong-buy" rating in a research note on Thursday, July 24th. Finally, Wall Street Zen downgraded Boeing from a "hold" rating to a "sell" rating in a research note on Saturday, May 17th. Three investment analysts have rated the stock with a sell rating, three have given a hold rating, eighteen have given a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $229.18.

Boeing Trading Down 0.7%

Shares of BA traded down $1.62 during trading hours on Wednesday, reaching $220.22. The stock had a trading volume of 3,770,351 shares, compared to its average volume of 8,593,230. Boeing has a 12 month low of $128.88 and a 12 month high of $242.69. The firm has a 50-day simple moving average of $214.84 and a 200 day simple moving average of $188.30. The company has a market capitalization of $166.52 billion, a price-to-earnings ratio of -13.33 and a beta of 1.41.

Boeing (NYSE:BA - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The aircraft producer reported ($1.24) EPS for the quarter, missing analysts' consensus estimates of ($0.92) by ($0.32). The company had revenue of $22.75 billion during the quarter, compared to analyst estimates of $20.13 billion. The company's revenue for the quarter was up 34.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($2.90) EPS. On average, equities analysts forecast that Boeing will post -2.58 EPS for the current year.

Insiders Place Their Bets

In other news, SVP Brendan J. Nelson sold 640 shares of the company's stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $206.28, for a total value of $132,019.20. Following the sale, the senior vice president directly owned 13,258 shares of the company's stock, valued at $2,734,860.24. This represents a 4.60% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Jeffrey S. Shockey sold 3,205 shares of the company's stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $202.87, for a total transaction of $650,198.35. Following the completion of the sale, the executive vice president directly owned 20,513 shares in the company, valued at $4,161,472.31. This trade represents a 13.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.09% of the company's stock.

Institutional Trading of Boeing

Several large investors have recently made changes to their positions in BA. Harbor Asset Planning Inc. purchased a new position in shares of Boeing during the 2nd quarter valued at approximately $25,000. American National Bank & Trust lifted its position in shares of Boeing by 474.1% during the 1st quarter. American National Bank & Trust now owns 155 shares of the aircraft producer's stock valued at $26,000 after buying an additional 128 shares in the last quarter. Piscataqua Savings Bank lifted its position in shares of Boeing by 1,712.5% during the 2nd quarter. Piscataqua Savings Bank now owns 145 shares of the aircraft producer's stock valued at $30,000 after buying an additional 137 shares in the last quarter. REAP Financial Group LLC lifted its position in shares of Boeing by 60.2% during the 4th quarter. REAP Financial Group LLC now owns 173 shares of the aircraft producer's stock valued at $31,000 after buying an additional 65 shares in the last quarter. Finally, Dogwood Wealth Management LLC lifted its position in shares of Boeing by 167.2% during the 4th quarter. Dogwood Wealth Management LLC now owns 179 shares of the aircraft producer's stock valued at $32,000 after buying an additional 112 shares in the last quarter. 64.82% of the stock is owned by hedge funds and other institutional investors.

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.