Boeing (NYSE:BA) Rating Increased to Outperform at Sanford C. Bernstein

Boeing (NYSE:BA) was upgraded by research analysts at Sanford C. Bernstein from a “market perform” rating to an “outperform” rating in a research report issued on Monday,Briefing.com Automated Import reports. The brokerage currently has a $218.00 target price on the aircraft producer’s stock. Sanford C. Bernstein’s price target indicates a potential upside of 22.52% from the company’s current price.

Several other brokerages have also commented on BA. Citigroup raised their price objective on Boeing from $210.00 to $220.00 and gave the company a “buy” rating in a research report on Thursday. Royal Bank of Canada reiterated an “outperform” rating and issued a $200.00 price objective on shares of Boeing in a report on Wednesday, April 23rd. Melius upgraded Boeing from a “hold” rating to a “buy” rating in a research note on Monday, March 24th. Susquehanna boosted their price objective on shares of Boeing from $200.00 to $205.00 and gave the company a “positive” rating in a research report on Wednesday, January 29th. Finally, Benchmark lowered their target price on Boeing from $250.00 to $215.00 and set a “buy” rating for the company in a research report on Monday, April 21st. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $200.90.

Boeing Stock Performance

Shares of Boeing stock opened at $177.92 on Monday. Boeing has a 52-week low of $128.88 and a 52-week high of $196.95. The company has a fifty day moving average of $164.87 and a 200-day moving average of $164.82. The stock has a market capitalization of $134.15 billion, a price-to-earnings ratio of -9.71 and a beta of 1.24.

Boeing (NYSE:BA) last released its quarterly earnings data on Wednesday, April 23rd. The aircraft producer reported ($0.49) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.39) by $0.90. The company had revenue of $19.50 billion for the quarter, compared to analysts’ expectations of $19.57 billion. On average, equities research analysts forecast that Boeing will post -2.58 earnings per share for the current fiscal year.

Insider Transactions at Boeing

In related news, EVP Uma M. Amuluru sold 3,159 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $180.69, for a total transaction of $570,799.71. Following the completion of the transaction, the executive vice president now owns 19,213 shares in the company, valued at $3,471,596.97. The trade was a 14.12 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.09% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Sierra Ocean LLC acquired a new stake in shares of Boeing during the fourth quarter worth about $26,000. American National Bank & Trust boosted its position in Boeing by 474.1% during the first quarter. American National Bank & Trust now owns 155 shares of the aircraft producer’s stock worth $26,000 after purchasing an additional 128 shares in the last quarter. Sugar Maple Asset Management LLC acquired a new stake in Boeing in the 4th quarter valued at $27,000. Fiduciary Advisors Inc. acquired a new position in shares of Boeing during the 4th quarter worth about $28,000. Finally, HighMark Wealth Management LLC increased its position in shares of Boeing by 121.6% during the fourth quarter. HighMark Wealth Management LLC now owns 164 shares of the aircraft producer’s stock worth $29,000 after purchasing an additional 90 shares in the last quarter. 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.