Boeing (NYSE:BA) Price Target Raised to $235.00

Boeing (NYSE:BA) had its target price upped by Stifel Nicolaus from $230.00 to $235.00 in a report released on Thursday morning, Benzinga reports. The firm currently has a buy rating on the aircraft producer’s stock.

Several other brokerages also recently issued reports on BA. Northcoast Research downgraded Boeing from a neutral rating to a sell rating and set a $140.00 price objective for the company. in a research report on Wednesday, April 17th. StockNews.com downgraded shares of Boeing from a hold rating to a sell rating in a research report on Friday, April 26th. Morgan Stanley lowered their price objective on shares of Boeing from $235.00 to $180.00 and set an equal weight rating for the company in a research report on Wednesday, April 10th. Barclays reduced their target price on shares of Boeing from $235.00 to $190.00 and set an equal weight rating on the stock in a research report on Monday, April 22nd. Finally, Baird R W raised shares of Boeing to a strong-buy rating in a report on Monday, June 3rd. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Boeing has an average rating of Moderate Buy and an average price target of $215.18.

Boeing Stock Performance

BA opened at $162.35 on Thursday. The firm has a market cap of $100.04 billion, a price-to-earnings ratio of -45.42 and a beta of 1.56. The firm’s 50-day simple moving average is $181.87 and its 200-day simple moving average is $187.17. Boeing has a twelve month low of $159.70 and a twelve month high of $267.54.

Boeing (NYSE:BA) last issued its quarterly earnings data on Wednesday, July 31st. The aircraft producer reported ($2.90) earnings per share for the quarter, missing the consensus estimate of ($1.00) by ($1.90). The business had revenue of $16.87 billion for the quarter, compared to analysts’ expectations of $17.35 billion. The company’s revenue was down 14.6% on a year-over-year basis. During the same quarter last year, the company earned ($0.82) earnings per share. As a group, sell-side analysts anticipate that Boeing will post -2.38 EPS for the current fiscal year.

Hedge Funds Weigh In On Boeing

Institutional investors and hedge funds have recently modified their holdings of the business. Bordeaux Wealth Advisors LLC increased its holdings in Boeing by 4,880.6% during the 2nd quarter. Bordeaux Wealth Advisors LLC now owns 103,098 shares of the aircraft producer’s stock worth $18,765,000 after purchasing an additional 101,028 shares in the last quarter. Crumly & Associates Inc. grew its holdings in shares of Boeing by 9.3% during the second quarter. Crumly & Associates Inc. now owns 7,630 shares of the aircraft producer’s stock worth $1,389,000 after buying an additional 651 shares in the last quarter. SouthState Corp raised its position in Boeing by 4.5% in the 2nd quarter. SouthState Corp now owns 2,395 shares of the aircraft producer’s stock valued at $436,000 after buying an additional 104 shares during the last quarter. First Dallas Securities Inc. boosted its position in Boeing by 1.8% during the 2nd quarter. First Dallas Securities Inc. now owns 17,226 shares of the aircraft producer’s stock worth $3,135,000 after acquiring an additional 300 shares during the last quarter. Finally, Nicholas Hoffman & Company LLC. grew its stake in shares of Boeing by 38.9% during the 2nd quarter. Nicholas Hoffman & Company LLC. now owns 5,355 shares of the aircraft producer’s stock worth $975,000 after acquiring an additional 1,500 shares in the last quarter. 64.82% of the stock is currently 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.