Boeing (NYSE:BA) Stock Rating Upgraded by Barclays

Boeing (NYSE:BA) was upgraded by analysts at Barclays from an “equal weight” rating to an “overweight” rating in a research report issued on Monday, MarketBeat reports. The brokerage currently has a $210.00 price target on the aircraft producer’s stock, up from their previous price target of $190.00. Barclays‘s target price would suggest a potential upside of 21.65% from the stock’s previous close.

Other analysts have also issued research reports about the company. Deutsche Bank Aktiengesellschaft upped their target price on Boeing from $184.00 to $215.00 and gave the stock a “buy” rating in a report on Thursday, January 2nd. Royal Bank of Canada reiterated an “outperform” rating and set a $200.00 price objective on shares of Boeing in a research note on Wednesday, October 30th. Wells Fargo & Company decreased their target price on shares of Boeing from $86.00 to $85.00 and set an “underweight” rating for the company in a research note on Monday, November 4th. Northcoast Research raised shares of Boeing from a “sell” rating to a “neutral” rating in a research report on Thursday, December 12th. Finally, JPMorgan Chase & Co. cut their price target on shares of Boeing from $195.00 to $190.00 and set an “overweight” rating for the company in a research note on Monday, November 25th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Boeing has a consensus rating of “Moderate Buy” and a consensus target price of $192.21.

Boeing Stock Performance

NYSE:BA opened at $172.63 on Monday. The stock has a 50-day simple moving average of $160.22 and a 200 day simple moving average of $165.27. Boeing has a 52-week low of $137.03 and a 52-week high of $233.85. The company has a market cap of $106.72 billion, a PE ratio of -13.38 and a beta of 1.52.

Boeing (NYSE:BA) last announced its quarterly earnings data 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 firm had revenue of $17.84 billion for the quarter, compared to analyst estimates of $17.81 billion. The firm’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($3.26) earnings per share. On average, research analysts predict that Boeing will post -16.18 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Boeing

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. One Wealth Capital Management LLC bought a new stake in shares of Boeing during the 4th quarter worth approximately $270,000. Diversified Trust Co raised its position in Boeing by 109.1% during the fourth quarter. Diversified Trust Co now owns 5,097 shares of the aircraft producer’s stock valued at $902,000 after purchasing an additional 2,659 shares in the last quarter. Bangor Savings Bank raised its position in Boeing by 1,159.3% during the fourth quarter. Bangor Savings Bank now owns 5,478 shares of the aircraft producer’s stock valued at $970,000 after purchasing an additional 5,043 shares in the last quarter. Doliver Advisors LP lifted its stake in Boeing by 62.9% during the fourth quarter. Doliver Advisors LP now owns 5,397 shares of the aircraft producer’s stock worth $955,000 after purchasing an additional 2,083 shares during the last quarter. Finally, CWA Asset Management Group LLC boosted its holdings in shares of Boeing by 37.1% in the 4th quarter. CWA Asset Management Group LLC now owns 3,009 shares of the aircraft producer’s stock valued at $533,000 after purchasing an additional 815 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.