Boeing (NYSE:BA) Upgraded at Northcoast Research

Boeing (NYSE:BA) was upgraded by stock analysts at Northcoast Research from a “sell” rating to a “neutral” rating in a report released on Thursday, MarketBeat Ratings reports.

BA has been the subject of several other reports. Deutsche Bank Aktiengesellschaft dropped their target price on Boeing from $225.00 to $195.00 and set a “buy” rating for the company in a report on Thursday, October 3rd. Sanford C. Bernstein lowered Boeing from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $195.00 to $169.00 in a research note on Wednesday, October 30th. Royal Bank of Canada reiterated an “outperform” rating and set a $200.00 price target on shares of Boeing in a report on Wednesday, October 30th. Citigroup cut their price target on shares of Boeing from $224.00 to $209.00 and set a “buy” rating on the stock in a report on Tuesday, October 15th. Finally, Benchmark reaffirmed a “buy” rating and set a $250.00 price objective on shares of Boeing in a research note on Thursday, October 24th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $190.11.

Boeing Price Performance

Shares of NYSE BA opened at $169.63 on Thursday. The stock has a market capitalization of $104.87 billion, a P/E ratio of -13.01 and a beta of 1.56. Boeing has a one year low of $137.03 and a one year high of $267.54. The firm’s 50 day simple moving average is $152.49 and its two-hundred day simple moving average is $166.16.

Boeing (NYSE:BA) last issued its earnings results on Wednesday, October 23rd. The aircraft producer reported ($10.44) EPS for the quarter, missing analysts’ consensus estimates of ($10.34) by ($0.10). The company had revenue of $17.84 billion for the quarter, compared to the consensus estimate of $17.81 billion. During the same quarter in the previous year, the firm posted ($3.26) EPS. The firm’s revenue for the quarter was down 1.5% compared to the same quarter last year. As a group, equities analysts expect that Boeing will post -16.18 earnings per share for the current fiscal year.

Institutional Trading of Boeing

A number of hedge funds have recently made changes to their positions in BA. RPg Family Wealth Advisory LLC bought a new stake in Boeing during the 3rd quarter valued at about $28,000. Cedar Wealth Management LLC bought a new stake in shares of Boeing during the third quarter valued at approximately $30,000. Kiely Wealth Advisory Group Inc. purchased a new position in Boeing in the 2nd quarter worth approximately $33,000. Hobbs Group Advisors LLC bought a new position in Boeing in the 2nd quarter valued at approximately $34,000. Finally, Harel Insurance Investments & Financial Services Ltd. boosted its stake in Boeing by 351.1% during the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 212 shares of the aircraft producer’s stock valued at $39,000 after purchasing an additional 165 shares during the last quarter. 64.82% of the stock is owned by institutional investors.

About Boeing

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.