Barclays Upgrades Boeing (NYSE:BA) to Overweight

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

A number of other research analysts have also issued reports on BA. JPMorgan Chase & Co. dropped their price objective on shares of Boeing from $195.00 to $190.00 and set an “overweight” rating for the company in a report on Monday, November 25th. Robert W. Baird dropped their price target on shares of Boeing from $240.00 to $200.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Royal Bank of Canada reissued an “outperform” rating and issued a $200.00 price objective on shares of Boeing in a research note on Wednesday, October 30th. The Goldman Sachs Group decreased their price objective on Boeing from $232.00 to $202.00 and set a “buy” rating for the company in a report on Tuesday, September 24th. Finally, Deutsche Bank Aktiengesellschaft lifted 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. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $192.21.

Boeing Price Performance

Shares of Boeing stock opened at $172.63 on Monday. The company’s 50 day moving average price is $160.22 and its two-hundred day moving average price is $165.27. The firm has a market capitalization of $106.72 billion, a P/E ratio of -13.38 and a beta of 1.52. Boeing has a fifty-two week low of $137.03 and a fifty-two week high of $233.85.

Boeing (NYSE:BA) last issued its quarterly earnings data on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share for the quarter, missing analysts’ consensus estimates of ($10.34) by ($0.10). The company had revenue of $17.84 billion during the quarter, compared to analyst estimates of $17.81 billion. The firm’s revenue was down 1.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($3.26) EPS. On average, analysts expect that Boeing will post -16.18 earnings per share for the current year.

Institutional Investors Weigh In On Boeing

Large investors have recently bought and sold shares of the stock. Lantz Financial LLC increased its holdings in shares of Boeing by 109.7% during the second quarter. Lantz Financial LLC now owns 2,695 shares of the aircraft producer’s stock valued at $491,000 after acquiring an additional 1,410 shares in the last quarter. Strategic Financial Concepts LLC bought a new stake in Boeing during the 2nd quarter valued at $41,000. Caprock Group LLC raised its holdings in Boeing by 40.0% during the second quarter. Caprock Group LLC now owns 9,982 shares of the aircraft producer’s stock worth $1,817,000 after buying an additional 2,854 shares during the last quarter. Ellis Investment Partners LLC lifted its stake in shares of Boeing by 74.1% in the second quarter. Ellis Investment Partners LLC now owns 2,307 shares of the aircraft producer’s stock valued at $420,000 after buying an additional 982 shares in the last quarter. Finally, Ballentine Partners LLC grew its holdings in shares of Boeing by 4.2% during the second quarter. Ballentine Partners LLC now owns 5,584 shares of the aircraft producer’s stock valued at $1,016,000 after buying an additional 223 shares during the last quarter. 64.82% of the stock is currently owned by institutional investors and hedge funds.

Boeing Company Profile

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.