Morgan Stanley Reaffirms Equal Weight Rating for Boeing (NYSE:BA)

Morgan Stanley reissued their equal weight rating on shares of Boeing (NYSE:BA) in a research note published on Monday, Benzinga reports. They currently have a $235.00 price target on the aircraft producer’s stock.

Several other equities research analysts have also recently weighed in on BA. UBS Group lowered their target price on Boeing from $275.00 to $250.00 and set a buy rating for the company in a report on Thursday, March 21st. William Blair began coverage on Boeing in a report on Tuesday, December 12th. They issued an outperform rating for the company. TD Cowen lowered their target price on Boeing from $275.00 to $230.00 and set an outperform rating for the company in a report on Monday. Stifel Nicolaus started coverage on Boeing in a research report on Friday, December 1st. They issued a buy rating and a $265.00 price target for the company. Finally, JPMorgan Chase & Co. reduced their price target on Boeing from $270.00 to $230.00 and set an overweight rating for the company in a research report on Monday. Seven analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus target price of $242.65.

Boeing Stock Up 2.4 %

BA opened at $191.96 on Monday. The business has a fifty day moving average of $200.81 and a 200 day moving average of $209.96. Boeing has a 52-week low of $176.25 and a 52-week high of $267.54. The stock has a market cap of $117.12 billion, a P/E ratio of -51.89, a PEG ratio of 30.94 and a beta of 1.52.

Boeing (NYSE:BA) last posted its quarterly earnings data on Wednesday, January 31st. The aircraft producer reported ($0.47) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.72) by $0.25. The business had revenue of $22.02 billion for the quarter, compared to analysts’ expectations of $21.14 billion. During the same quarter in the previous year, the firm earned ($1.75) EPS. Boeing’s revenue was up 10.2% compared to the same quarter last year. Equities analysts anticipate that Boeing will post 1.55 EPS for the current fiscal year.

Institutional Investors Weigh In On Boeing

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. CNB Bank raised its stake in shares of Boeing by 106.5% in the third quarter. CNB Bank now owns 128 shares of the aircraft producer’s stock worth $25,000 after purchasing an additional 66 shares during the last quarter. Vermillion & White Wealth Management Group LLC purchased a new position in shares of Boeing in the fourth quarter worth about $26,000. Evolution Advisers Inc. purchased a new position in shares of Boeing in the fourth quarter worth about $28,000. DiNuzzo Private Wealth Inc. purchased a new position in shares of Boeing in the fourth quarter worth about $28,000. Finally, VisionPoint Advisory Group LLC purchased a new position in shares of Boeing in the second quarter worth about $32,000. 64.82% of the stock is currently owned by hedge funds and other institutional investors.

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.