Boeing (NYSE:BA) Cut to “Neutral” at UBS Group

Boeing (NYSE:BA) was downgraded by investment analysts at UBS Group from a “buy” rating to a “neutral” rating in a note issued to investors on Monday, MarketBeat Ratings reports. They currently have a $375.00 price target on the aircraft producer’s stock, down from their prior price target of $470.00. UBS Group’s price objective indicates a potential upside of 11.28% from the stock’s previous close.

A number of other equities analysts also recently issued reports on the stock. Goldman Sachs Group reissued a “neutral” rating and issued a $375.00 price objective on shares of Boeing in a report on Friday, July 12th. Cowen set a $460.00 price objective on shares of Boeing and gave the stock a “buy” rating in a report on Friday, October 11th. JPMorgan Chase & Co. dropped their price objective on shares of Boeing from $430.00 to $425.00 and set an “overweight” rating on the stock in a report on Thursday, July 25th. Morgan Stanley set a $500.00 price objective on shares of Boeing and gave the stock a “buy” rating in a report on Thursday, September 12th. Finally, Citigroup set a $430.00 price objective on shares of Boeing and gave the stock a “buy” rating in a report on Monday, July 15th. Three analysts have rated the stock with a sell rating, twelve have given a hold rating and ten have given a buy rating to the company’s stock. Boeing currently has a consensus rating of “Hold” and an average target price of $388.79.

BA opened at $337.00 on Monday. The company has a current ratio of 1.03, a quick ratio of 0.29 and a debt-to-equity ratio of 48.98. The company has a market cap of $193.57 billion, a price-to-earnings ratio of 21.05, a PEG ratio of 12.08 and a beta of 1.25. The company’s 50 day moving average is $371.21 and its 200 day moving average is $361.49. Boeing has a 12-month low of $292.47 and a 12-month high of $446.01.

Boeing (NYSE:BA) last posted its quarterly earnings data on Wednesday, July 24th. The aircraft producer reported $2.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.85 by $1.07. The company had revenue of $15.75 billion for the quarter, compared to the consensus estimate of $15.05 billion. Boeing had a net margin of 5.42% and a negative return on equity of 632.24%. The firm’s revenue was down 35.1% compared to the same quarter last year. During the same quarter last year, the firm posted $3.33 earnings per share. As a group, analysts predict that Boeing will post 3.26 EPS for the current fiscal year.

Several institutional investors have recently added to or reduced their stakes in the company. Vanguard Capital Wealth Advisors boosted its stake in Boeing by 0.4% during the third quarter. Vanguard Capital Wealth Advisors now owns 6,730 shares of the aircraft producer’s stock worth $2,560,000 after buying an additional 29 shares during the period. Pflug Koory LLC boosted its stake in shares of Boeing by 0.6% during the third quarter. Pflug Koory LLC now owns 5,398 shares of the aircraft producer’s stock valued at $2,054,000 after purchasing an additional 30 shares during the period. CFO4Life Group LLC boosted its stake in shares of Boeing by 5.2% during the second quarter. CFO4Life Group LLC now owns 627 shares of the aircraft producer’s stock valued at $228,000 after purchasing an additional 31 shares during the period. Scott & Selber Inc. boosted its stake in shares of Boeing by 0.4% during the third quarter. Scott & Selber Inc. now owns 7,140 shares of the aircraft producer’s stock valued at $2,717,000 after purchasing an additional 31 shares during the period. Finally, Accredited Investors Inc. boosted its stake in shares of Boeing by 2.0% during the second quarter. Accredited Investors Inc. now owns 1,607 shares of the aircraft producer’s stock valued at $585,000 after purchasing an additional 32 shares during the period. Hedge funds and other institutional investors own 67.91% of the company’s stock.

About Boeing

The Boeing Company, together with its subsidiaries, designs, develops, manufactures, sales, services, and supports commercial jetliners, military aircraft, satellites, missile defense, human space flight and launch systems, and services worldwide. The company operates in four segments: Commercial Airplanes; Defense, Space & Security; Global Services; and Boeing Capital.

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