Boeing (NYSE:BA) Upgraded by Barclays to Overweight Rating

Boeing (NYSE:BA) was upgraded by stock analysts at Barclays from an “equal weight” rating to an “overweight” rating in a research report issued on Monday,Finviz reports. The brokerage currently has a $210.00 price target on the aircraft producer’s stock, up from their prior price target of $190.00. Barclays‘s target price suggests a potential upside of 23.60% from the stock’s current price.

Other research analysts have also recently issued reports about the stock. 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 report on Monday, November 25th. TD Cowen cut their price target on shares of Boeing from $200.00 to $190.00 and set a “buy” rating for the company in a report on Monday, October 14th. Benchmark reaffirmed a “buy” rating and set a $250.00 price objective on shares of Boeing in a report on Thursday, October 24th. Citigroup dropped their price objective on shares of Boeing from $224.00 to $209.00 and set a “buy” rating for the company in a research note on Tuesday, October 15th. Finally, UBS Group lowered their price target on shares of Boeing from $215.00 to $195.00 and set a “buy” rating for the company in a report on Thursday, October 24th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $192.21.

Boeing Stock Performance

Shares of NYSE:BA opened at $169.90 on Monday. The stock has a market capitalization of $105.03 billion, a price-to-earnings ratio of -13.17 and a beta of 1.52. Boeing has a one year low of $137.03 and a one year high of $250.19. The company has a 50-day simple moving average of $159.43 and a 200-day simple moving average of $165.34.

Boeing (NYSE:BA) last posted 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 for the quarter, compared to analysts’ expectations of $17.81 billion. Boeing’s revenue was down 1.5% compared to the same quarter last year. During the same quarter last year, the business posted ($3.26) EPS. As a group, research analysts forecast that Boeing will post -16.18 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. RPg Family Wealth Advisory LLC acquired a new position in shares of Boeing during the third quarter worth approximately $28,000. Cedar Wealth Management LLC bought a new position in shares of Boeing in the third quarter worth $30,000. Kiely Wealth Advisory Group Inc. acquired a new position in shares of Boeing during the second quarter valued at $33,000. Strategic Financial Concepts LLC bought a new stake in shares of Boeing during the second quarter valued at about $41,000. Finally, Planning Capital Management Corp grew its position in Boeing by 741.0% in the 3rd quarter. Planning Capital Management Corp now owns 328 shares of the aircraft producer’s stock valued at $50,000 after buying an additional 289 shares in the last quarter. Institutional investors and hedge funds own 64.82% of the company’s stock.

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.