Boeing (NYSE:BA) Stock Price Expected to Rise, Barclays Analyst Says

Boeing (NYSE:BA) had its price target lifted by Barclays from $210.00 to $255.00 in a research note released on Tuesday,Benzinga reports. Barclays currently has an overweight rating on the aircraft producer’s stock.

Several other equities research analysts have also weighed in on BA. The Goldman Sachs Group set a $212.00 price objective on Boeing and gave the stock a “buy” rating in a research note on Thursday, June 12th. Royal Bank Of Canada reissued a “cautious” rating on shares of Boeing in a research note on Thursday, June 12th. Redburn Atlantic raised Boeing from a “hold” rating to a “strong-buy” rating and raised their price objective for the stock from $180.00 to $275.00 in a research note on Friday, June 27th. Rothschild & Co Redburn raised Boeing from a “neutral” rating to a “buy” rating and set a $275.00 target price for the company in a research report on Friday, June 27th. Finally, Wall Street Zen cut Boeing from a “hold” rating to a “sell” rating in a research report on Saturday, May 17th. Four investment analysts have rated the stock with a sell rating, three have issued a hold rating, seventeen have given a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Boeing currently has an average rating of “Moderate Buy” and an average target price of $223.59.

Boeing Stock Performance

Shares of BA stock opened at $226.45 on Tuesday. Boeing has a 1 year low of $128.88 and a 1 year high of $242.69. The stock has a market cap of $170.74 billion, a PE ratio of -12.64 and a beta of 1.41. The business’s fifty day moving average is $214.01 and its 200-day moving average is $187.68.

Boeing (NYSE:BA) last issued its quarterly earnings results on Tuesday, July 29th. The aircraft producer reported ($1.24) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.92) by ($0.32). The firm had revenue of $22.75 billion during the quarter, compared to the consensus estimate of $20.13 billion. The business’s revenue for the quarter was up 34.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($2.90) EPS. Equities research analysts predict that Boeing will post -2.58 earnings per share for the current year.

Insider Activity at Boeing

In related news, EVP David Christopher Raymond sold 3,899 shares of the business’s stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $187.01, for a total transaction of $729,151.99. Following the transaction, the executive vice president directly owned 42,513 shares in the company, valued at $7,950,356.13. The trade was a 8.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Jeffrey S. Shockey sold 3,205 shares of Boeing stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $202.87, for a total value of $650,198.35. Following the sale, the executive vice president directly owned 20,513 shares in the company, valued at $4,161,472.31. The trade was a 13.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 7,744 shares of company stock worth $1,511,370 over the last three months. Company insiders own 0.09% of the company’s stock.

Institutional Inflows and Outflows

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

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.