Boeing (BA) Upgraded by Wolfe Research to “Outperform”

Boeing (NYSE:BA) was upgraded by equities researchers at Wolfe Research from a “market perform” rating to an “outperform” rating in a research report issued on Tuesday, The Fly reports.

Other analysts also recently issued reports about the company. Cowen reaffirmed an “outperform” rating and set a $415.00 price target (up from $320.00) on shares of Boeing in a report on Tuesday. Citigroup lifted their price target on Boeing to $380.00 and gave the stock a “buy” rating in a report on Tuesday. They noted that the move was a valuation call. Robert W. Baird reaffirmed an “outperform” rating and set a $433.00 price target (up from $380.00) on shares of Boeing in a report on Tuesday. They noted that the move was a valuation call. Credit Suisse Group reaffirmed an “outperform” rating and set a $375.00 price target (up from $310.00) on shares of Boeing in a report on Friday. They noted that the move was a valuation call. Finally, Vetr downgraded Boeing from a “sell” rating to a “strong sell” rating and set a $279.35 price target for the company. in a report on Wednesday, January 10th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and fourteen have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $297.58.

Shares of Boeing (NYSE BA) traded up $4.28 during midday trading on Tuesday, hitting $340.49. The stock had a trading volume of 4,977,454 shares, compared to its average volume of 3,940,000. Boeing has a twelve month low of $156.75 and a twelve month high of $347.73. The firm has a market capitalization of $202,200.00, a PE ratio of 31.32, a PEG ratio of 2.28 and a beta of 1.23. The company has a debt-to-equity ratio of 8.54, a current ratio of 1.18 and a quick ratio of 0.39.

Boeing (NYSE:BA) last released its earnings results on Wednesday, October 25th. The aircraft producer reported $2.72 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.65 by $0.07. Boeing had a return on equity of 12,064.25% and a net margin of 7.33%. The firm had revenue of $24.31 billion during the quarter, compared to analysts’ expectations of $24.09 billion. During the same period in the previous year, the firm posted $3.51 EPS. Boeing’s revenue for the quarter was up 1.7% on a year-over-year basis. analysts expect that Boeing will post 10.13 EPS for the current year.

Boeing announced that its board has approved a stock buyback plan on Monday, December 11th that authorizes the company to buyback $18.00 billion in shares. This buyback authorization authorizes the aircraft producer to purchase shares of its stock through open market purchases. Shares buyback plans are often an indication that the company’s leadership believes its shares are undervalued.

A number of institutional investors and hedge funds have recently bought and sold shares of BA. Riverpoint Wealth Management Holdings LLC increased its position in Boeing by 0.3% during the 2nd quarter. Riverpoint Wealth Management Holdings LLC now owns 1,438 shares of the aircraft producer’s stock worth $293,000 after purchasing an additional 4 shares during the period. Deroy & Devereaux Private Investment Counsel Inc. increased its position in Boeing by 0.3% during the 2nd quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 2,131 shares of the aircraft producer’s stock worth $421,000 after purchasing an additional 6 shares during the period. Accredited Investors Inc. increased its position in Boeing by 0.4% during the 2nd quarter. Accredited Investors Inc. now owns 1,643 shares of the aircraft producer’s stock worth $325,000 after purchasing an additional 6 shares during the period. Silicon Valley Capital Partners increased its position in Boeing by 0.7% during the 2nd quarter. Silicon Valley Capital Partners now owns 1,240 shares of the aircraft producer’s stock worth $245,000 after purchasing an additional 9 shares during the period. Finally, Arete Wealth Advisors LLC increased its position in Boeing by 0.4% during the 2nd quarter. Arete Wealth Advisors LLC now owns 2,404 shares of the aircraft producer’s stock worth $475,000 after purchasing an additional 9 shares during the period. 70.87% of the stock is owned by hedge funds and other institutional investors.

WARNING: “Boeing (BA) Upgraded by Wolfe Research to “Outperform”” was reported by Transcript Daily and is the sole property of of Transcript Daily. If you are accessing this article on another website, it was illegally stolen and reposted in violation of US and international trademark and copyright laws. The original version of this article can be viewed at https://transcriptdaily.com/2018/01/16/boeing-ba-upgraded-by-wolfe-research-to-outperform.html.

About Boeing

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.

The Fly

Analyst Recommendations for Boeing (NYSE:BA)

Receive News & Ratings for Boeing Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Boeing and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply