Boeing (NYSE:BA) Earns Buy Rating from Analysts at Citigroup

Investment analysts at Citigroup initiated coverage on shares of Boeing (NYSE:BA) in a report issued on Thursday, Marketbeat.com reports. The firm set a “buy” rating on the aircraft producer’s stock.

Several other research analysts have also recently issued reports on BA. BNP Paribas Exane initiated coverage on Boeing in a research note on Tuesday, November 18th. They issued an “underperform” rating and a $150.00 price objective for the company. Vertical Research raised shares of Boeing from a “hold” rating to a “buy” rating and raised their price target for the stock from $242.00 to $270.00 in a research report on Monday, September 8th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Boeing in a report on Tuesday. Deutsche Bank Aktiengesellschaft lowered shares of Boeing from a “buy” rating to a “hold” rating and set a $240.00 price objective on the stock. in a research note on Thursday, October 30th. Finally, UBS Group restated a “buy” rating on shares of Boeing in a research report on Wednesday. Three analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, three have issued a Hold rating and five have given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $232.96.

Boeing Trading Up 1.8%

NYSE BA opened at $204.33 on Thursday. Boeing has a 12-month low of $128.88 and a 12-month high of $242.69. The company has a fifty day simple moving average of $202.82 and a two-hundred day simple moving average of $214.03. The stock has a market cap of $155.31 billion, a P/E ratio of -14.94 and a beta of 1.18.

Boeing (NYSE:BA) last released its earnings results on Wednesday, October 29th. The aircraft producer reported ($7.47) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.51) by ($6.96). The company had revenue of $23.27 billion during the quarter, compared to analysts’ expectations of $21.61 billion. During the same quarter last year, the firm posted ($10.44) earnings per share. Boeing’s revenue for the quarter was up 30.4% compared to the same quarter last year. As a group, sell-side analysts forecast that Boeing will post -2.58 earnings per share for the current year.

Insider Buying and Selling at Boeing

In other news, SVP Dana S. Deasy bought 554 shares of the stock in a transaction dated Monday, November 24th. The shares were acquired at an average cost of $178.88 per share, with a total value of $99,099.52. Following the purchase, the senior vice president directly owned 28,442 shares in the company, valued at $5,087,704.96. The trade was a 1.99% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Uma M. Amuluru sold 1,366 shares of Boeing stock in a transaction dated Thursday, November 6th. The shares were sold at an average price of $197.66, for a total value of $270,003.56. Following the completion of the transaction, the executive vice president owned 14,656 shares of the company’s stock, valued at approximately $2,896,904.96. This represents a 8.53% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.09% of the stock is currently owned by company insiders.

Institutional Trading of Boeing

Several institutional investors have recently bought and sold shares of the business. Harbor Asset Planning Inc. acquired a new position in shares of Boeing during the 2nd quarter worth approximately $25,000. Measured Wealth Private Client Group LLC purchased a new stake in Boeing in the 3rd quarter worth $25,000. Piscataqua Savings Bank raised its position in Boeing by 1,712.5% during the second quarter. Piscataqua Savings Bank now owns 145 shares of the aircraft producer’s stock worth $30,000 after acquiring an additional 137 shares during the period. Reyes Financial Architecture Inc. purchased a new position in Boeing during the third quarter valued at $32,000. Finally, Davis Capital Management acquired a new stake in shares of Boeing in the third quarter valued at about $33,000. 64.82% of the stock is 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.