Boeing Company (The) (NYSE:BA) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Thursday, July 13th.
According to Zacks, “Boeing is the largest aircraft manufacturer in the world in terms of revenue, orders and deliveries, and one of the largest aerospace and defense contractors. Demand for its commercial airplanes is on the rise due to a steady improvement in passenger and freight traffic. Recently, the company released 20-year market outlook, as per which it forecasts jetliner demand to increase by 3.6%. The single-aisle jets are expected to be the major driver behind demand growth. Further, the company’s defense business stands out among its peers by virtue of its broadly diversified programs, strong order bookings and order backlog. Boeing’s share price has outperformed the Zacks categorized Aerospace/Defense industry price over the last one year. However, the company continues to face challenges from the uncertain fate of high-cost programs, order cancellations, stiff competition as well as falling delivery numbers.”
BA has been the subject of several other reports. Wells Fargo & Company reaffirmed a “market perform” rating on shares of Boeing Company (The) in a report on Monday, July 10th. Cowen and Company reaffirmed an “outperform” rating and set a $215.00 price objective on shares of Boeing Company (The) in a report on Thursday, May 11th. Vetr raised Boeing Company (The) from a “buy” rating to a “strong-buy” rating and set a $199.85 price objective for the company in a report on Thursday, May 18th. Canaccord Genuity reaffirmed a “hold” rating and set a $170.00 price objective on shares of Boeing Company (The) in a report on Thursday, April 27th. Finally, Deutsche Bank AG lifted their price objective on Boeing Company (The) from $205.00 to $210.00 and gave the stock a “buy” rating in a report on Friday, April 28th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. Boeing Company (The) presently has an average rating of “Hold” and an average price target of $228.31.
Boeing Company (NYSE BA) opened at 239.50 on Thursday. Boeing Company has a 52 week low of $126.31 and a 52 week high of $246.49. The stock’s 50 day moving average price is $211.74 and its 200 day moving average price is $186.31. The firm has a market capitalization of $141.56 billion, a P/E ratio of 20.98 and a beta of 1.16.
Boeing Company (The) (NYSE:BA) last posted its quarterly earnings results on Wednesday, July 26th. The aircraft producer reported $2.55 EPS for the quarter, beating the consensus estimate of $2.32 by $0.23. The business had revenue of $22.74 billion during the quarter, compared to analysts’ expectations of $22.97 billion. Boeing Company (The) had a return on equity of 2,185.10% and a net margin of 7.84%. The company’s quarterly revenue was down 8.1% compared to the same quarter last year. During the same period last year, the firm earned ($0.44) EPS. On average, equities analysts expect that Boeing Company will post $9.95 EPS for the current year.
In other news, SVP Robert E. Verbeck sold 2,522 shares of the company’s stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $244.45, for a total value of $616,502.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Heidi B. Capozzi sold 4,217 shares of the company’s stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $241.51, for a total value of $1,018,447.67. The disclosure for this sale can be found here. In the last three months, insiders have sold 83,334 shares of company stock valued at $20,321,493. 0.28% of the stock is owned by company insiders.
Large investors have recently modified their holdings of the company. Northwest Quadrant Wealth Management LLC bought a new stake in shares of Boeing Company (The) during the fourth quarter valued at $440,000. Diligent Investors LLC bought a new stake in shares of Boeing Company (The) during the fourth quarter valued at $336,000. Smith Shellnut Wilson LLC ADV bought a new stake in shares of Boeing Company (The) during the fourth quarter valued at $336,000. Meridian Wealth Management LLC bought a new stake in shares of Boeing Company (The) during the fourth quarter valued at $4,167,000. Finally, Lyell Wealth Management LP bought a new stake in shares of Boeing Company (The) during the fourth quarter valued at $3,256,000. 74.47% of the stock is owned by institutional investors.
About Boeing Company (The)
The Boeing Company is an aerospace company. The Company’s segments include Commercial Airplanes; Defense, Space & Security (BDS), such as Boeing Military Aircraft (BMA), Network & Space Systems (N&SS) and Global Services & Support (GS&S), and Boeing Capital (BCC). The Commercial Airplanes segment develops, produces and markets commercial jet aircraft and provides related support services, to the commercial airline industry.
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