Morgan Stanley Forecasts Strong Price Appreciation for Boeing (NYSE:BA) Stock

Boeing (NYSE:BA) had its price objective boosted by Morgan Stanley from $185.00 to $200.00 in a research note issued to investors on Friday morning,Benzinga reports. Morgan Stanley currently has an equal weight rating on the aircraft producer’s stock.

Several other brokerages have also recently weighed in on BA. StockNews.com upgraded Boeing from a “sell” rating to a “hold” rating in a research report on Friday, May 9th. Cowen reiterated a “buy” rating on shares of Boeing in a research report on Wednesday, May 7th. Benchmark reduced their price target on Boeing from $250.00 to $215.00 and set a “buy” rating for the company in a research report on Monday, April 21st. Melius Research set a $204.00 target price on Boeing in a research report on Monday, March 24th. Finally, Wells Fargo & Company restated an “underweight” rating and set a $140.00 target price (up from $111.00) on shares of Boeing in a research report on Wednesday, April 23rd. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $204.35.

Boeing Stock Performance

Shares of NYSE BA opened at $205.88 on Friday. The stock has a market cap of $155.23 billion, a PE ratio of -11.24 and a beta of 1.41. Boeing has a fifty-two week low of $128.88 and a fifty-two week high of $209.66. The stock has a fifty day moving average of $171.81 and a 200-day moving average of $168.78.

Boeing (NYSE:BA) last announced its quarterly earnings results on Wednesday, April 23rd. The aircraft producer reported ($0.49) earnings per share for the quarter, beating the consensus estimate of ($1.39) by $0.90. The company had revenue of $19.50 billion during the quarter, compared to analysts’ expectations of $19.57 billion. Boeing’s revenue for the quarter was up 17.7% compared to the same quarter last year. During the same quarter last year, the firm posted ($1.13) earnings per share. On average, sell-side analysts predict that Boeing will post -2.58 EPS for the current year.

Insiders Place Their Bets

In other Boeing news, EVP Jeffrey S. Shockey sold 3,205 shares of the company’s stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $202.87, for a total transaction of $650,198.35. Following the transaction, the executive vice president now owns 20,513 shares in the company, valued at approximately $4,161,472.31. This represents a 13.51% 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 David Christopher Raymond sold 3,899 shares of the company’s stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $187.01, for a total value of $729,151.99. Following the completion of the sale, the executive vice president now owns 42,513 shares in the company, valued at $7,950,356.13. The trade was a 8.40% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 10,263 shares of company stock worth $1,950,150. Company insiders own 0.09% of the company’s stock.

Institutional Trading of Boeing

Several hedge funds and other institutional investors have recently made changes to their positions in BA. Sierra Ocean LLC purchased a new stake in shares of Boeing in the 4th quarter worth approximately $26,000. American National Bank & Trust grew its stake in shares of Boeing by 474.1% in 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. Sugar Maple Asset Management LLC purchased a new stake in shares of Boeing in the 4th quarter worth approximately $27,000. Fiduciary Advisors Inc. purchased a new stake in shares of Boeing in the 4th quarter worth approximately $28,000. Finally, HighMark Wealth Management LLC grew its stake 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 worth $29,000 after buying an additional 90 shares during the last quarter. Hedge funds and other institutional investors own 64.82% of the company’s stock.

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.