Boeing Co. (NYSE:BA) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Monday.
According to Zacks, “Boeing is the world’s largest aircraft manufacturer in terms of revenues, orders and deliveries, and is one of the largest defense contractors. Boeing’s recently released China Current Market Outlook estimates a $1.03 trillion market in the country for new commercial airplanes over the next 20 years. Further Boeing sold 28 wide-body jets to Saudi Arabian Airlines, for $8 billion. These developments reflect this company’s latest expansion in the international front, apart from the strong foray it already enjoys in the domestic aviation market. However, the company is losing important contracts for aircraft and satellites to overseas rivals due to a stand-off in Congress over the future of the U.S Export-Import (Ex-Im) Bank. That said, it continues to face challenges such as declining backlog, uncertainty surrounding high-cost programs, lower delivery numbers, risks related to key project executions and stiff competition.”
Other research analysts have also issued reports about the stock. Jefferies Group reissued a “positive” rating and issued a $165.00 target price on shares of Boeing in a research note on Friday, September 30th. Credit Suisse Group AG reissued a “neutral” rating and issued a $148.00 target price on shares of Boeing in a research note on Friday, September 23rd. Citigroup Inc. decreased their target price on shares of Boeing from $168.00 to $160.00 and set a “buy” rating on the stock in a research note on Monday, September 19th. Vetr raised shares of Boeing from a “sell” rating to a “hold” rating and set a $126.07 target price on the stock in a research note on Wednesday, August 31st. Finally, Goldman Sachs Group Inc. set a $107.00 target price on shares of Boeing and gave the stock a “sell” rating in a research note on Tuesday, August 30th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and twelve have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $147.18.
Boeing (NYSE:BA) opened at 132.25 on Monday. Boeing has a 52 week low of $102.10 and a 52 week high of $150.59. The company has a market cap of $82.50 billion, a PE ratio of 23.81 and a beta of 1.03. The company has a 50-day moving average price of $131.43 and a 200 day moving average price of $131.10.
Boeing (NYSE:BA) last posted its quarterly earnings data on Wednesday, July 27th. The aircraft producer reported ($0.44) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.92) by $0.48. Boeing had a return on equity of 82.66% and a net margin of 3.84%. The company had revenue of $24.80 million for the quarter, compared to analysts’ expectations of $23.22 million. During the same period in the previous year, the firm posted $1.62 EPS. Boeing’s revenue was up .9% compared to the same quarter last year. On average, equities research analysts forecast that Boeing will post $6.29 EPS for the current fiscal year.
In other news, SVP Diana L. Sands sold 14,151 shares of the company’s stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $133.06, for a total value of $1,882,932.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Randall L. Stephenson bought 1,871 shares of Boeing stock in a transaction dated Monday, August 1st. The stock was acquired at an average cost of $133.89 per share, with a total value of $250,508.19. Following the completion of the acquisition, the director now directly owns 3,721 shares of the company’s stock, valued at approximately $498,204.69. The disclosure for this purchase can be found here. 0.58% of the stock is currently owned by insiders.
Several large investors have recently made changes to their positions in BA. Nisa Investment Advisors L.L.C. boosted its stake in shares of Boeing by 6.2% in the first quarter. Nisa Investment Advisors L.L.C. now owns 230,514 shares of the aircraft producer’s stock worth $29,261,000 after buying an additional 13,450 shares during the last quarter. Community Bank & Trust Waco Texas boosted its position in Boeing by 30.4% in the first quarter. Community Bank & Trust Waco Texas now owns 9,140 shares of the aircraft producer’s stock valued at $1,160,000 after buying an additional 2,130 shares in the last quarter. Mn Services Vermogensbeheer B.V. purchased a new position in Boeing during the first quarter valued at about $1,777,000. VNBTrust National Association boosted its position in Boeing by 1.4% in the first quarter. VNBTrust National Association now owns 4,424 shares of the aircraft producer’s stock valued at $562,000 after buying an additional 59 shares in the last quarter. Finally, Commonwealth Equity Services Inc boosted its position in Boeing by 8.3% in the first quarter. Commonwealth Equity Services Inc now owns 219,331 shares of the aircraft producer’s stock valued at $27,842,000 after buying an additional 16,806 shares in the last quarter. 75.46% of the stock is owned by institutional investors and hedge funds.
The Boeing Company is an aerospace firm. The Company operates in five segments: Commercial airplanes; Defense, Space & Security (BDS) business, such as Boeing Military Aircraft (BMA), Network & Space Systems (N&SS) and Global Services & Support (GS&S), and Boeing Capital (BCC). Its Commercial Airplanes segment develops, produces and markets commercial jet aircraft, which provides related support services to the commercial airline industry.
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