BNP Paribas Exane Begins Coverage on Boeing (NYSE:BA)

Investment analysts at BNP Paribas Exane started coverage on shares of Boeing (NYSE:BA) in a research report issued to clients and investors on Tuesday. The brokerage set an “underperform” rating and a $150.00 price target on the aircraft producer’s stock. BNP Paribas Exane’s target price points to a potential downside of 21.05% from the stock’s current price.

Several other equities research analysts also recently weighed in on BA. Bank of America upped their target price on shares of Boeing from $260.00 to $270.00 and gave the stock a “buy” rating in a research note on Friday, August 1st. Loop Capital set a $223.00 price objective on Boeing in a research note on Monday, November 3rd. KGI Securities upgraded Boeing from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 24th. Sanford C. Bernstein restated an “outperform” rating and set a $267.00 price target on shares of Boeing in a report on Friday. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $250.00 price target on shares of Boeing in a research report on Monday, September 29th. Three research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, three have assigned a Hold rating and five have assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $236.00.

Boeing Price Performance

Shares of BA stock traded down $1.82 on Tuesday, hitting $190.00. The stock had a trading volume of 1,597,403 shares, compared to its average volume of 8,200,289. The firm has a market capitalization of $144.41 billion, a P/E ratio of -13.89 and a beta of 1.44. Boeing has a 1 year low of $128.88 and a 1 year high of $242.69. The company’s 50 day moving average price is $212.07 and its 200-day moving average price is $214.96.

Boeing (NYSE:BA) last announced its earnings results on Wednesday, October 29th. The aircraft producer reported ($7.47) EPS for the quarter, missing analysts’ consensus estimates of ($0.51) by ($6.96). The company had revenue of $23.27 billion during the quarter, compared to the consensus estimate of $21.61 billion. Boeing’s revenue for the quarter was up 30.4% compared to the same quarter last year. During the same period last year, the business earned ($10.44) EPS. On average, equities analysts forecast that Boeing will post -2.58 EPS for the current year.

Insider Activity at Boeing

In other news, EVP Uma M. Amuluru sold 1,366 shares of the firm’s stock in a transaction dated Thursday, November 6th. The stock was sold at an average price of $197.66, for a total transaction of $270,003.56. Following the sale, the executive vice president owned 14,656 shares of the company’s stock, valued at approximately $2,896,904.96. This trade represents a 8.53% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.09% of the company’s stock.

Hedge Funds Weigh In On Boeing

Hedge funds have recently added to or reduced their stakes in the stock. Kingstone Capital Partners Texas LLC purchased a new position in shares of Boeing in the 2nd quarter valued at $378,459,000. Vanguard Group Inc. boosted its stake in Boeing by 1.9% in the first quarter. Vanguard Group Inc. now owns 65,655,044 shares of the aircraft producer’s stock valued at $11,197,468,000 after acquiring an additional 1,212,327 shares in the last quarter. Ninety One UK Ltd purchased a new position in shares of Boeing during the third quarter worth about $192,734,000. Amundi increased its position in shares of Boeing by 75.5% during the second quarter. Amundi now owns 1,776,634 shares of the aircraft producer’s stock worth $376,700,000 after purchasing an additional 764,236 shares in the last quarter. Finally, Newport Trust Company LLC lifted its holdings in shares of Boeing by 2.5% in the 3rd quarter. Newport Trust Company LLC now owns 29,198,446 shares of the aircraft producer’s stock valued at $6,301,901,000 after purchasing an additional 707,490 shares during 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.