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

Boeing (NYSE:BA) had its price target increased by equities research analysts at Citigroup from $220.00 to $270.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has a “buy” rating on the aircraft producer’s stock. Citigroup’s price objective would suggest a potential upside of 17.41% from the stock’s previous close.

Several other research analysts have also weighed in on BA. Morgan Stanley set a $200.00 price objective on shares of Boeing and gave the stock an “equal weight” rating in a report on Thursday, June 12th. Cowen restated a “buy” rating on shares of Boeing in a report on Wednesday, May 7th. Melius Research set a $204.00 price target on Boeing in a research note on Monday, March 24th. Sanford C. Bernstein upgraded Boeing from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $181.00 to $218.00 in a report on Monday, April 28th. Finally, Benchmark decreased their target price on Boeing from $250.00 to $215.00 and set a “buy” rating for the company in a report on Monday, April 21st. Four investment analysts have rated the stock with a sell rating, three have issued a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $218.59.

Boeing Price Performance

Shares of BA stock opened at $229.97 on Monday. The business’s fifty day moving average price is $207.90 and its 200 day moving average price is $183.67. The firm has a market capitalization of $173.40 billion, a PE ratio of -12.83 and a beta of 1.41. Boeing has a 1-year low of $128.88 and a 1-year high of $233.61.

Boeing (NYSE:BA) last issued its earnings results on Wednesday, April 23rd. The aircraft producer reported ($0.49) earnings per share for the quarter, topping the consensus estimate of ($1.39) by $0.90. The company had revenue of $19.50 billion for the quarter, compared to analyst estimates of $19.57 billion. During the same quarter in the previous year, the company posted ($1.13) earnings per share. The company’s quarterly revenue was up 17.7% compared to the same quarter last year. Equities research analysts expect that Boeing will post -2.58 earnings per share for the current fiscal year.

Insider Buying and Selling at Boeing

In related news, EVP Jeffrey S. Shockey sold 3,205 shares of the stock in a transaction dated 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 owned 20,513 shares in the company, valued at $4,161,472.31. This trade represents a 13.51% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP David Christopher Raymond sold 3,899 shares of the business’s stock in a transaction 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 transaction, the executive vice president directly owned 42,513 shares in the company, valued at approximately $7,950,356.13. This represents a 8.40% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 7,744 shares of company stock worth $1,511,370 over the last 90 days. Insiders own 0.09% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. American National Bank & Trust increased its stake in Boeing by 474.1% during the 1st quarter. American National Bank & Trust now owns 155 shares of the aircraft producer’s stock worth $26,000 after purchasing an additional 128 shares in the last quarter. Piscataqua Savings Bank grew its stake in Boeing by 1,712.5% in the second quarter. Piscataqua Savings Bank now owns 145 shares of the aircraft producer’s stock valued at $30,000 after purchasing an additional 137 shares in the last quarter. REAP Financial Group LLC increased its holdings in Boeing by 60.2% during the fourth quarter. REAP Financial Group LLC now owns 173 shares of the aircraft producer’s stock worth $31,000 after buying an additional 65 shares during the last quarter. Dogwood Wealth Management LLC grew its holdings in Boeing by 167.2% during the fourth quarter. Dogwood Wealth Management LLC now owns 179 shares of the aircraft producer’s stock worth $32,000 after purchasing an additional 112 shares during the period. Finally, Solstein Capital LLC bought a new stake in Boeing in the fourth quarter valued at approximately $33,000. 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.